Lithuanian WeSky raises €1,36M from Coinvest Capital and business angels

Lithuanian avionics startup WeSky has raised €1.36M from venture capital fund Coinvest Capital and a group of business angels. Coinvest Capital's share in this investment is €777K.

Vilnius-based startup WeSky, founded by Vytis Petrusevičius, is developing a smart USB charging solution embedded in airplane passenger seats, enabling commercial airlines to improve passenger experience and operational efficiency by reducing airplane weight and fuel consumption. WeSky's solution is already in use in current Airbus 330 commercial airplanes. 

According to Vytis Petrusevičius, the funds raised in the new round will be used to increase brand awareness, boost sales and prepare for the next stage of growth.

In 2023 startup WeSky raised €1,1M from Lithuanian Coinvest Capital, Lithuanian accelerator and investor Baltic Sandbox Ventures (now BSV Ventures), and a syndicate of business angels LitBAN. 

Coinvest Capital, an early stage venture capital fund established in 2018 by the national development bank ILTE, invests EU and Republic of Lithuania public funds, in promising Lithuanian startups. The managing director of Coinvest Capital is Viktorija Trimbel.