PwC Legal has advised LimeWire on raising USD 10.4 million in a private sale of its native token, LMWR, in a round led by Kraken Ventures, Arrington XRP Capital, and GSR.

Pohla & Hallmagi has successfully represented Estonian official distributor of Electrolux professional industrial kitchen appliances Farwell Kaubandus before the Estonian Public Procurement Dispute Board.

PwC Legal has advised certification service provider SK ID Solutions on a five-year concession contract with the Estonian Information System Authority to continue the Mobile-ID service.

Sorainen has advised Livonia Partners and their joint venture with the target’s management on the acquisition of Stebby.

Triniti has advised Depo Ventures on leading a USD 1 million investment round in DriveX.

TGS Baltic has advised the Truffle Capital SAS fund on leading a EUR 5.5 million investment round into Cachet. Triniti and, reportedly, Ireland-based Mason Hayes & Curran advised Cachet on the round.

Pohla & Hallmagi has advised Restate on the sale of a loft-office commercial property in Tallinn to Infortar. The Luminor Bank provided transaction financing.

Pohla & Hallmagi has successfully represented UK company Steamship Mutual Underwriting Association in Marshall Island-registered oil tanker Advantage Pride arrest proceedings.

Sorainen has advised HydrogenOne Capital Growth on its EUR 24 million investment in Elcogen. Gowling WLG reportedly also advised HydrogenOne.

Sorainen has advised Reiterate on raising EUR 1.25 million in a pre-seed round led by Hummingbird Ventures. Cobalt advised Hummingbird on the deal.

Stratulat Albulescu has advised Al start-up Druid on its USD 15 million series A financing round led by Karma Ventures and Hoxton Ventures. Cobalt advised Karma Ventures. Orrick Herrington & Sutcliffe reportedly advised Druid as well. Hoxton was reportedly advised by Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.

A booming startup sector, unhampered by the war in the region, is the strongest suit of the Estonian market right now, while the country continues to focus on improving its regulation of FDI, crypto, and fintech businesses, according to Sorainen Senior Partner Aku Sorainen.

Lextal has advised Tuul Mobility on its EUR 3.1 million bond issuance and application for trading on the Nasdaq Baltic alternative market First North.

Sorainen has advised Punktid Technologies on its IPO and admission to trading on Nasdaq First North.

TGS Baltic has successfully represented AS Tartu Agro before the Supreme Court of Estonia.

TGS has successfully represented Marcel Vichmann’s Best Idea OU in filing a bankruptcy petition against Oliver Kruuda.

Cobalt has advised Avena Nordic Grain on the sale of its Estonian and Lithuanian grain trade businesses to the Scandagra Group. Walless advised Scandagra on the deal.

On March 9, 2022, four leading Estonian lawyers sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the current state of the startup environment in Estonia and analyze its main drivers, the local startup ecosystem, and the regulatory environment shaping it.