Croatian start-up Orqa has raised €5.8 million in its first round of seed financing. The first round was led by Lightspeed Venture Partners (‘Lightspeed’), with participation from additional funders Radius Capital and Decisive Point, as well as existing investor Day One Capital. Lightspeed was comprehensively advised on all legal aspects of the transaction by Taylor Wessing, with a team from Ireland and Germany led by Berlin-based VC partner Dr Norman Röchert. VUKMIR + ASSOCIATES’ team led by Managing Partner Tomislav Pedišić advised on all Croatian aspects of the transaction.
Founded in 2017 in Osijek, technology company Orqa develops autonomous drone solutions, including avionics components, radio systems, drones, pilot goggles and controls. With the raised capital, the start-up intends to scale its development, production capacities and sales worldwide to meet the increasing demand for cost-effective and advanced autonomous drone technologies. The company is benefiting from a favourable market situation: demand for drone systems is increasing in the military sector due to the challenges posed by the ongoing conflict in Ukraine, but demand in the commercial sector is also growing. At the same time, Orqa is benefiting from the instability of global supply chains and meeting the demand for reliable and complete end-to-end drone solutions made in Europe.
Lightspeed is a multi-stage venture capital firm focusing on supporting innovation and trends in the enterprise, consumer and healthcare sectors with an emphasis on category-defining businesses that change the way we interact today and enable a visionary tomorrow. The firm has supported hundreds of founders and helped build more than 500 extraordinary companies worldwide.
VUKMIR + ASSOCIATES team on this project included Partners Tomislav Pedišić and Ivan Ćuk, Senior Attorneys Andrea Kožul Pedišić and Tea Cerinski, as well as Associates Luka Gubić and Antonio Straga.
We would like to congratulate the parties on successful closing and thank our colleagues from Taylor Wessing for seamless coordination and cooperation.