Practica Capital and Impellent Ventures invest in the startup Evergrowth

Venture capital companies Practica Capital and Impellent Ventures have invested in the Lithuania-based startup Evergrowth, which develops artificial intelligence (AI)-powered assistants for sales teams. Evergrowth, has attracted USD 2.2 million, marking one of the largest pre-seed investments in startups in the Baltic countries.

After securing the funding, Evergrowth transformed its business model by moving away from traditional B2B sales consulting and replacing it with an automated AI-driven platform for sales and marketing teams.

The platform developers say that this tool provides sales and marketing teams with detailed and personalised information about the most suitable customers and so enables professionals to reach target customers with greater ease and speed.

Practica Capital motivated its decision to invest in Evergrowth by the experience of the team built up by the startup. Founded in 2012, Practica Capital provides consulting services and is engaged in investment activities.

Founded in 2018, Impellent Ventures is a venture capital firm that invests in innovative technology companies.

In this transaction, COBALT Partner Akvilė Bosaitė represented Practica Capital and Impellent Ventures companies, advising them on all legal issues.