Frankfurt/Hamburg/Boulder, Jan. 22, 2018 – A Bryan Cave corporate, venture capital and technology team from Frankfurt, Hamburg and Boulder (Colorado), led by Managing Partner Tobias Fenck (Germany) and Partner Mark Weakley (USA), advised the private equity and venture capital company LEA Partners on a seed financing-round in the amount of USD 2.8 million for the machine learning startup understand.ai. The company focusses on training and validation data for self-propelled vehicles and intends to drive growth in the United States through this investment. Further investors in the financing round structured by LEA Partners are Frontline Ventures, Synapse Partners and Agile Partners.
As a leading provider of image and video data for autonomous vehicles, understand.ai changes the way training data is generated. The company focusses on the combined human-machine approach in order to increase the efficiency and quality of data annotations. Understand.ai develops technologies and products based on artificial intelligence (AI), which help to reach a new level of autonomous driving. Clients are automobile manufacturers and tier 1 suppliers in Germany and the U.S.
As a partner, LEA Partners supports founders and management teams in various development phases of their growth and in reaching a leading market position. Based in Karlsruhe, Germany, one of the biggest IT clusters in Europe, LEA Partners has advised on investments in more than 40 companies since 2002.
Advisers of LEA Partners
Bryan Cave Frankfurt
Dr. Tobias Fenck, Managing Partner (Lead, Corporate, Venture Capital)
Michael Magotsch, Of Counsel (Employment)
Robert Schindler, Associate (Corporate)
Bryan Cave Hamburg
Dominik Weiß, Of Counsel (IP, IT)
Bryan Cave Boulder, USA
Mark W. Weakley, Partner (Lead, Corporate, Venture Capital)
Scott M. Perlov, Associate (IT)
About Bryan Cave LLP
Bryan Cave is a global law firm with more than 900 highly skilled lawyers in 25 offices in North America, Europe and Asia. The firm represents publicly held multinational corporations, large and mid-sized privately held companies, emerging companies, nonprofit and community organizations, government entities, and individuals. With a foundation based on enduring client relationships, deep and diverse legal experience, industry-shaping innovation and a collaborative culture, Bryan Cave’s transaction, litigation and regulatory practices serve clients in key business and financial markets.
