Lithuanian aerospace startup WeSky raises €1.1M from Baltic investors
Vilnius-based aerospace startup WeSky has raised €1.1 million in a fresh funding round. Coinvest Capital, Baltic Sandbox Ventures, and Notarc Management Group participated in the round, along with LitBAN angel investors, Tech.eu reports.
- WeSky develops sustainable in-seat power systems for commercial aircrafts. The systems are lighter than competitors, thus they help lower overall aircraft weight and reduce CO2 emissions as well as airline operational costs. The company was founded by Vytis Petrusevicius.
“I want to express my deep gratitude to our investors, partners, and everyone who has supported us on this journey. Your belief in our mission fuels our passion to keep pushing the boundaries of technology. Let’s continue to redefine what’s possible in the world of cabin avionics. Together, we’re creating a brighter, more recharged future,”Vytis Petrusevicius, WeSky’s CEO, commented.
- The round includes investments from several VC funds and angel investors. The list includes: Coinvest Capital, a Vilnius-based VC firm investing in growth startups along with groups of business angels, Baltic Sandbox Ventures, also a Vilnius-based VC firm that invests in early-stage deep technology and life science solutions, and Notarc Management Group, a privately-held investment and asset management firm.
- Lithuanian business angels syndicate LitBAN also participated in the funding. In March 2023, LitBAN selected WeSky as a target during the Angel Schools, which led to the closing of the current round.