Greenberg Traurig advised OTB Ventures on a series seed financing round for ProcureTech startup akirolabs GmbH. The latest round raised approximately US$5 million and included OTB Ventures, High-Tech Gründerfonds, D11Z. Ventures and Serpentine Ventures, among other business angel investors.
Based in Berlin, akirolabs helps companies improve their strategic sourcing processes. The startup offers a software-as-a-service (SaaS) platform powered by artificial intelligence (AI). The funds will be used to further develop akirolabs’ SaaS products and expand its AI capabilities, as well as to further scale customer growth and business operations.
OTB Ventures is currently the largest venture capital fund originating in Central and Eastern Europe and focusing on companies engaged in SpaceTech, AI and automation, fintech infrastructure and cybersecurity across Europe.
Greenberg Traurig lawyers advised on all aspects of the investment, including the legal due diligence process and drafting and negotiating the investment documentation.