07/11/2022

LitCapital, a growth capital fund focusing on investments in high-growth enterprises, invested in Elinta Motors, which designs, develops, and manufactures turn-key powertrain components and battery systems for commercial vehicles.

Using their extensive background in engineering and electronics, ELINTA began working on the development of e-mobility solutions for electric vehicles in 2010, with the first prototypes of electric trucks introduced a few years later. In 2017, after receiving a positive response from the market participants, ELINTA transferred the invention’s intellectual property rights (IPRs) to the newly created company – ELINTA MOTORS. Ever since its inception, ELINTA MOTORS has been developing and improving its electric mobility offerings, not only enhancing the power and range but also showing extraordinary attention to the durability of its products. ELINTA MOTORS growth will be accelerated by the investment, which will further strengthen its position as an EV powertrain provider across multiple markets along with improving its current manufacturing capabilities.

“We believe that electric mobility is the way of the future, and the electric vehicles market offers plenty of opportunities for further developments and growth. By partnering up with our investors and making use of their knowledge and expertise in enterprise growth we’ll be able to further scale up the production and develop new products” said Laurynas Jokužis, CEO of ELINTA MOTORS.

Šarūnas Šiugžda, Founder and Managing Partner at LitCapital, commented: “The engineering talent of the ELINTA MOTORS and the innovative solutions that they have created astounded us from the very start. Furthermore, the increasing prominence of Electric Vehicles and the overall shift in mobility markets toward renewable energy have also played a key role in LitCapital’s decision to invest. We believe that the market is going to grow further and become more mature, with ELINTA MOTORS being positioned to utilize this opportunity to the fullest”.

ELINTA MOTORS is planning to triple its revenue in 2022 while at the same time maintaining a healthy double-digit EBITDA margin. Attracted funding will be invested in R&D, efficiency improvement solutions, and capacity expansion. The company has an ambitious business growth plan with the aim to become the market leader in selected market segments in the coming years.

Law Firm TGS Baltic advised the Investors and Trinity Jurex advised the Company during the investment process.