Capital funds Coinvest Capital and Baltic Sandbox Ventures and several accredited business angels have invested €825,000 in the Lithuanian aerospace and defence startup Airvolve. This investment will be used to develop a unique tactical transport aircraft.
The recent investment includes €510,000 from Coinvest Capital, a Vilnius-based venture capital firm managing €30 million in assets, with a focus on early-stage Lithuanian startups and the business angel ecosystem.
As stated by Viktorija Trimbel, the Director of Coinvest Capital, the idea of the project is very timely, hitting the emerging wave of autonomous systems and innovation in the transport and defence industries, so it has great prospects.
According to Airvolve representatives, the aircraft can be used for a variety of civil and defence missions, such as autonomous cargo delivery, casualty evacuation, search and rescue operations.
Founded in 2024 by Donatas Gendvilas and Antanas Ivancius, Airvolve is developing a heavy-lift aircraft designed for civil and defence missions, offering ten times lower operating costs than a helicopter. Capable of transporting large cargo over distances of more than 60 kilometres, it aims to revolutionize both industries with its cost-effective and versatile solution.
In this transaction, the TGS Baltic team—Dalia Tamašauskaitė-Žilienė, Aurelija Gamulka, Viktorija Jančiūraitė, Inesa Grybova, and Meda Stankutė—advised Coinvest Capital investors on all matters related to the investment.
