COBALT advised Karma Ventures and byFounders on investment in Lucinity

COBALT advised Karma Ventures and byFounders on investment in Icelandic startup Lucinity which develops an AI technology based anti-money laundering (AML) software. The 6.1 million dollars funding round was co-led by Karma Ventures and byFounders, with co-investments from existing investors Crowberry Capital and Preceptor Capital.

Karma Ventures is an early-stage venture capital firm, specialised in late seed and A-round investments in Europe’s most promising tech startups. COBALT has previously advised several of their investments, such as Wirepas, Commsignia, Xolo, Infermedica, MeetFrank, Realeyes, AppGyver, Minut, Sonarworks, CGTrader, Plumbr, SpectX and Adaptive Simulations.

byFounders is an early-stage venture fund actively investing in tech startups across the Nordics and Baltics.

The funds were advised by partner Kristel Raidla-Talur and senior associate Greete-Kristiine Kuru.