We advised biotech laser startup Oxipit on attracting EUR 3.5 million in investment from the Taiwanese venture capital company Taiwania Capital.
This is the second investment in a Lithuanian company from this USD 200 million fund dedicated to Taiwanese investment in Central and Eastern Europe.
Creating AI solutions for radiology
“Last year, we received regulatory approval to use artificial intelligence to provide radiologists’ findings without needing a doctor. The product is highly accurate and has undergone clinical trials in many countries. This investment will allow us to expand the team, the number of clients, and the company’s overall growth”, says Gediminas Pekšys, CEO of Oxipit.
In this round, together with investments from other investors, including venture capital fund Practica Capital, the startup plans to raise EUR 4.8 million in total.
About the fund
The Taiwanese investment fund Taiwania Capital is one of Taiwan’s measures to develop economic relations with Lithuania, following economic pressure from China. The finances are dedicated to creating joint ventures, investment projects and startups in the field of high technology: for semiconductors, lasers and biotechnologies.
In 2022, we advised Lithuanian laser company Litilit on attracting EUR 3.5 million, which was the first investment by the fund in Central and Eastern Europe.
Our services and project team
Our team, consisting of partner Mantas Petkevičius, senior associate Matas Mačiulaitis, associates Izabelė Petrikaitė and Goda Jakubauskaitė, as well as assistant lawyers Nedas Tamašauskas, Barbora Bernatonytė and Greta Lebedeva, advised Oxipit on all investment-related matters.
