CERHA HEMPEL Rechtsanwälte GmbH has advised Freeeway AG, a component of red-stars.com data AG's IoT-connectivity portfolio, on a major financing round leading to the closure of its Pre Series A round.
The seven figure investment of two new international shareholders, injecting more than EUR 3 Million, sets the post money valuation watermark of the IoT company above EUR 45 Million.
Using the proceeds Freeeway AG will accelerate its global market penetration for the industrial- and retail IoT connectivity subscription business.
Freeeway AG is an Austrian stock company founded in 2014. Connecting more than 300 industrial and 30.000 retail customers with more than 650 mobile operators to date, the company has achieved profitability. So far, Freeeway AG’s operations have been financed purely by grass rooting.
The team at CERHA HEMPEL was led by Nadine Leitner (Partner, Corporate/M&A, Takeovers) and Liliana Niederhauser (Associate, Corporate/M&A, Takeovers).