IT company Softneta, founded by Kaunas University of Technology (KTU) alumni received €1 million investment from the venture capital fund Practica Venture Capital, states press release from Startup Lithuania. Softneta, an award winning Lithuanian IT company providing software-based specialised health care solutions is based at KTU Santaka Valley.
“This investment will allow us to focus more on our long-term goals and make major improvements to our software products, rather than worrying about day-to-day problems. We also plan to improve our sales operations by hiring new highly qualified employees. It was a much needed push for us: we expect a long-term and successful collaboration with Practica Capital“, said Vytautas Baublys, CEO and one of the shareholders of Softneta.
Practica Venture Capital is being managed by Practica Capital. According to their representatives, Practica Capital has already got experience working with health care businesses, and the opportunity to share knowledge with such a fast-growing company as Softneta is exciting.
“Softneta has a big advantage – a low cost home market, which allows them to offer high-quality products for a competitive price. Their future is really promising: the company has everything needed to get noticed and to find long-term reliable strategic partners. We have prepared a detailed action plan and areready to work together”, stated Petras Mičiūnas, Partner at Practica Capital.
