70V exits Lithuanian accounting services provider RoboLabs

Lithuanian fund 70V has exited from the Lithuanian accounting services provider and business management system for small and medium-sized enterprises RoboLabs. The startup's new owner is a Norwegian serial acquirer of business software company Hawk Infinity.  

70V invested €200K in RoboLabs in 2019. Since then, the company's revenue has grown more than tenfold.

Founded in Vilnius in 2016 by Daivaras Anuzis and Deividas Tumas, RoboLabs provides modern accounting, document processing, and business analytics services. With its help, it is possible to register a company and get a service of outsourced accounting, including consultation on tax-related questions. RoboLabs also offers processing and export of all primary documents - invoices, checks, or contracts - to Robo or other platforms used by its customers. Moreover, the startup can offer detailed financial and legal consultations. It works with 1,3K companies in Lithuania.

Founded in 2018 in Vilnius, 70V is a venture capital fund and accelerator. It manages two funds - 70Ventures Accel and Seed fund. 70V focuses on startups from the Nordic and Baltic regions. The fund provides milestone-based financing up to €400K. Partners in the fund are Per Moller, JB Daguené, and Gytenis Galkis.