Cobalt Vilnius has advised Interactio, a Lithuanian start-up that developed a smart interpretation system, on attracting an investment of EUR 435,000 from business angels and the Co-Investment Fund.
The start-up attracted EUR 174,000 from business angels and EUR 261,000 from Lithuania's Co-Investment Fund.
According to Cobalt, the intelligent interpretation app developed by Interactio is on the top 40 list of the world’s best mobile solutions and has been used in 38 countries for several years. Business giants such as Microsoft, Google, and Amazon are among the company's clients.
This mobile system replaces simultaneous interpretation equipment used during conferences. According to Cobalt, "In addition, this solution enables a conference interpreter to work from any part of the world. During an event, it is sufficient for a participant to have a smart device: mobile phone, computer or tablet, headphones, and access to the Internet. This saves the time and money spent in distributing and collecting conference equipment during events."
The Cobalt team consisted of Associate Partner Eva Suduiko and Associate Viktorija Dusajeva.
