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Cobalt Advises Project A on Investment in Contract Negotiating Start-Up Pactum

Cobalt Advises Project A on Investment in Contract Negotiating Start-Up Pactum

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Cobalt has advised Berlin-based early-stage investor Project A on its investment in Estonian start-up Pactum, an AI-based platform that enables global companies to automate personalized commercial negotiations on a massive scale.

The USD 3 million seed financing round that was led by Project A included investments by DocuSign and other previous Pactum investors.

According to Cobalt, "Pactum was founded in 2019 to help companies uncover hidden value in supplier contracts. Many Fortune Global 2000 companies have thousands of vendors with contracts that have been neglected for long periods of time because the value of the contracts are too small and too numerous to warrant proper procurement specialists’ time. Pactum autonomously negotiates these supplier contracts, which releases significant capital to the bottom line while also improving terms for vendors. Walmart is one of the first customers Pactum is able to disclose."

“We are convinced that AI-based systems will shape the future of commercial negotiations," said Uwe Horstmann, General Partner of Project A. "Pactum is well on its way to play an essential role in this future."

Cobalt's team consisted of Partner Peeter Kutman and Senior Associate Madis Reppo.

Cobalt did not reply to our inquiry on the matter.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.