WKB advised Giant Ventures on Polish aspects of its investment into Airly sp. z o.o. and provided comprehensive legal support during the entire transaction process, in particular undertaking a legal due diligence of the company, as well as providing support in negotiating transaction documents.
Airly sp. z o.o. is a Polish start-up in the environmental protection industry, which, among other things, creates innovative solutions for measuring air quality using artificial intelligence. It was listed on the list of top Polish startups to follow in 2020: https://sifted.eu/poland-startups-top-rankings/. Giant Ventures is a London-based investment fund specializing in high risk investments in innovative ventures.
WKB assisted on this matter Osborne Clark LLP a lead counsel to the Client. Giant Ventures led this funding round, and other “business angels” include members of Sir Richard Branson and Sir Ronald Cohen’s families, Bitspiration Booster VC and experts associated with companies like Spotify, Henkel, Gojek, Pipedrive. The approximate value of the financing that Airly will use for global development of its business is EUR 1.7 million. Additionally, the Polish National Center for Research and Development has also invested PLN 4 million in Airly.
The work of the team advising Giant Ventures was managed by Krzysztof Wawrzyniak with the assistance of Katarzyna Stefaniak. With regards to the due diligence, among others, Piotr Gajek advised on state aid matters; Agata Mielczarek and Aleksandra Bączykowska advised on intellectual property matters.