CityStorage raised €1,2M from Lithuanian Business Angels Fund and other investors

Vilnius-based startup CityStorage, which offers to rent a room or a unit for personal belongings and company goods, raised €1,2M from Lithuanian Business Angels Fund and other investors from Lithuania. 

CityStorage was founded in 2021 by Mindaugas Butnorius. The startup is a fully automated self-storage company for individuals and companies. Its storage units and rooms allow for keeping personal belongings like skis, bicycles, snowboards, non-daily items, and, also, business documents, seasonal goods and stock, and others. The customer has contactless access to the facility and storage and can share it with the people he would choose. The software will send notifications about the door status.

The minimum storage size starts from 1 M3, and the customer can change it with time. The premises are available for one month and a longer rental period. The startup offers various types of security for belongings, like CCTV, alarm, access control, fire safety, and insurance. 

According to the company, the facility for storage of belongings and goods will be completed in a couple of months. It will occupy almost 4K M2 with approximately 600 self-storage units. Besides, the startup plans to build another facility in Vilnius.

Business Angels Fund is a Lithuanian fund for supporting early-stage Lithuanian startups. The CEO of the fund is Daiva Rakauskaitė. The core investor of the fund is the Lithuanian state-owned company INVEGA. It co-invests with a business angel(s) on an equal basis with a ticket size of up to €600K. The latest investments are Lithuanian charging solutions for smart electric cars Inbalance Grid, open data service Okredo, and fintech Spenfi.