Lithuanian avionics startup WeSky, which develops USB In-Seat Power systems for airlines, has raised €1.036 million to expand internationally. The funding came from Coinvest Capital and several business angels, as Vestbee was told.
- Established in 2021, WeSky develops in-seat charging systems that provide USB power to passengers’ electronic devices.
- Their primary product, the 60W USB system, weighing just 110g per passenger, integrates directly into the passenger seats, allowing passengers to charge their electronic devices during flights.
- The company has received certification from the European Union Aviation Safety Agency (EASA) with the EASA Form 1 certificate, and their technology is already in use on retrofitted Airbus A330 aircraft.
Details of the deal
- Coinvest Capital, a Lithuanian early-stage venture capital firm managing €25.5 million in assets, participated in the round with an investment of €777,000. The firm has built a portfolio of over 36 companies, including two successful exits.
“This is Coinvest Capital's second investment in WeSky, and we can confidently say that the team's professionalism, their ability to identify opportunities even in the narrowest market niches, and their global ambitions have paid off. We are delighted with WeSky's progress and look forward to using their solution on the go," Managing Director of Coinvest Capital, Viktorija Trimbel, commented in a press release.
- The investment also saw support from several business angels.
- WeSky will use the funding to increase brand awareness through marketing efforts and expand its sales team.
- Additionally, the company will focus on product certification to meet the line-fit requirements of a major aircraft manufacturer, allowing its USB In-Seat Power systems to be installed during aircraft production.
“The main goal of this investment is to accelerate WeSky growth in the global market. We aim to strengthen brand awareness by continuing our active marketing efforts and participating in key aviation exhibitions and conferences, positioning ourselves as the world’s most advanced USB In-Seat Power systems provider," claims Vytis Petrusevičius, founder of WeSky.
