Bankrupt JAV The capital information technology startup Raydiant, which promised to create more than 130 jobs in Vilnius, has filed for bankruptcy with the company's then-director Siamak Khajehpour Tadavani, Verslo Žinios reported on Friday.
As of March 31, the company's payables and other liabilities amounted to 206 thousand euros, and the debt to employees amounted to almost 84 thousand euros - Gintautas Vaškelis, head of the court-appointed bankruptcy administrator of Raydiant Lithuania, Draugo Petys, says that employees will be paid through the guarantee fund.
Founded in Lithuania in 2022, the artificial intelligence-powered platform was designed to create and manage personalized customer experiences in physical locations using interactive kiosks, virtual assistants, and digital advertising in stores and restaurants.
Raydiant's website is currently down and states that the company's assets, including its products, technology, and customer contracts, have been acquired by Display Systems Inc.
