WeSky attracts investment from Coinvest Capital and Business Angels: accelerates expansion in the globalaviation market

Avionics startup WeSky has received a new round of investment from the venture capital fund Coinvest Capital and a group of business angels. The funds will be used to increase brand awareness, boost sales, and prepare for the next phase of growth. The 1.036 million euros investment includes participation from Coinvest Capital and an accredited group of business angels affiliated with the fund.

WeSky develops innovative USB In-Seat Power systems designed for airlines. These are in-seat charging solutions for portable electronic devices, integrated into aircraft passenger seats, enhancing the passenger flight experience and improving operational efficiency for airlines by reducing fuel consumption.

“The main goal of this investment is to accelerate WeSky growth in the global market. We will pursue this through three strategic directions. 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. In addition, we are expanding our sales team in anticipation of revenue growth. We have planned a new investment round focused on product certification to meet linefit requirements of one of the major aircraft manufacturers – this would allow our solution to be installed directly on the aircraft production line”, – said Vytis Petrusevičius, founder of WeSky.

“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. Have a great flight!”, – said Viktorija Trimbel, Managing Director of Coinvest Capital .

Coinvest Capital share in this investment totals 777,000 euros.

“We see an ambitious team that not only identifies niches but is also capable of conquering them. WeSky solution, lighter and smarter than competitors’, has already been recognized in the aviation market. We are proud to support the growth of this company”, – said Šarūnas Račkauskas, one of WeSky investors.

WeSky 60W USB system is the lightest on the market, weighing just 110g per passenger. The company successfully completed the certification process and received the EASA Form 1 certificate, confirming that a specific aircraft component meets all technical requirements and is suitable for use in civil aviation.

WeSky product is already being used in currently operating “Airbus 330” commercial aircraft (retrofit). In the next development phase, the company plans to implement its solution during the aircraft production process (line-fit).

About WeSky

WeSky develops a smart USB charging solution integrated into aircraft passenger seats, called recharge™️, enabling commercial airlines to deliver an enhanced passenger experience and operational efficiency by reducing aircraft weight and fuel consumption.

Our mission: to foster innovation in aviation technology and avionics systems that drive positive change in the industry. We believe that by helping traditional industries achieve sustainability goals, we play a vital role in protecting the future of our planet and ensuring our survival.

WeSky is committed to creating a sustainable and efficient future for aviation.

Apie „Coinvest Capital“

Coinvest Capital is an early-stage venture capital fund established by the national development bank ILTE. The fund invests EU and Republic of Lithuania public funds entrusted to it, alongside contributions from business angels and other venture capital funds, in promising start-ups that create value for Lithuania. The fund's portfolio now includes 44 start-ups, with €45.8million co-invested, of which €20.2 million is Coinvest Capital’s share. Private co-investors contributed €11.8 million under the profit-sharing model and €13.8 million under the pari-passu model

The fund offers a unique profit-sharing programme, limiting its return on investment to between 4% and 8% per year. In the event of a successful sale of an investment, the fund distributes profits exceeding this limit to accredited private co-investors. Of the €44.3 million of committed capital held in trust for the fund, the available capital for new investments, following this transaction, amounts to €17.85 million.

More information:

Vytis Petrusevičius

Founder of WeSky

Mob.: +370 669 25875

Mail.: vytis@wesky.aero