TGS Baltic has advised Lendurai on a EUR 5.5 million investment round led by Expeditions Fund, HCVC, and Vsquared Ventures. Ellex advised the investors.
Lendurai is an Estonian dual-use startup specializing in autonomous drone technology. According to TGS Baltic, Lendurai is developing drone systems that function in contested environments where GPS signals may be jammed or blocked, addressing a strategic capability gap for European defense and industrial resilience.
The TGS Baltic team included Partner Kadri Kallas, Associate Partner Indrek Ergma, Counsel Mirko Kikkamagi, and Associates Ingeri-Helena Kakko and Joonas Kartsep.
The Ellex team included Partner Antti Perli, Counsels Gerd Laub and Merlin Liis-Toomela, and Senior Associate Hanna Pahk.