Lithuania’s office technology startup Table Air has attracted an investment from Denmark’s furniture company Midform Holding.
The value of the deal and the number of shares purchased are not disclosed due to a confidentiality agreement with the investor, it added.
“Now we have two interesting projects, one of which is with the local authority of Amsterdam, where we are installing our solutions in several hundred workplaces,” Lukas Lukosevicius, Table Air’s CEO and founder, told the paper. “If we receive several more such orders, I think we’ll start generating positive cash flow. The goal is that we no longer need large investments, but we’ll see how it goes,” he said.
The company says that it had raised 700,000 euros before the deal with Midiorm Holding. Its investors include the venture capital fund manager Practica Capital and Romualdas Beksta, the owner of the office furniture manufacturer Ergolain.
