Practica Capital finishes a EUR 1 million pre-seed funding round into CTO2B

IISUTIB Practica Venture Capital III KŪB, with participation from FIRSTPICK and several business angels, recently completed a significant pre-seed funding round of EUR 1 million into CTO2B, a Lithuanian startup offering a Software-as-a-Service (SaaS) platform.

CTO2B’s platform eliminates the need for specialised cloud infrastructure skills, freeing up engineering teams from infrastructure management. This allows them to dedicate their time and resources to developing the core features and functionalities that truly differentiate their businesses. It further optimises cloud costs, ensures high availability and scalability for reliable service, and simplifies security and compliance adherence.

According to Practica Capital, “We’re excited to be part of CTO2B’s journey and look forward to seeing how they continue to innovate!“.

COBALT advised Practica Capital on all matters related to the signing and closing of the investment, prepared the required investment documentation and represented Practica Capital in the negotiations with the startup.

The project was led by COBALT Partner Akvilė Bosaitė and Senior Associate Vytautas Vosylius.