Brandl Talos has advised Austrian battery diagnostics start-up Aviloo on an equity investment by the European Innovation Council Fund and Raiffeisen's Invest Unternehmensbeteiligungs AG. Binder Groesswang advised the EIC Fund and PHH advised Invest AG.
"With the equity investments in the mid-seven-digit range ... Aviloo wants to become the market leader in Europe for battery tests and play a key role in establishing a used car market for electric vehicles," PHH announced.
Founded in 2018, Aviloo is a developer of battery diagnostics for electric and plug-in hybrid cars. "Among other factors, the condition of electric batteries is decisive for the vehicle value of a used electric car," Brandl Talos informed. "The technology developed by Aviloo thus plays a relevant role in the emerging shift to climate-friendly energy sources. With the investments of Invest AG and the EIC, the planned internationalization with a stronger partner network is to be implemented and the presence on the European market significantly expanded," according to the firm.
Launched in June 2020, the EIC Fund is, according to Binder Groesswang, a pioneering initiative by the European Commission, providing direct equity and quasi-equity investments (between EUR 500,000 and EUR 15 million) in European high-impact and deep-tech start-ups.
"We have been observing Aviloo's successful course for some time and are impressed by the innovative strength of the developers. With our investment, we want to give the start-up the necessary impetus to carry out successful international expansion," Invest AG CEO Christoph Hikes commented.
The Brandl Talos team included Partner Markus Arzt, Senior Associate Roman Schlemaier, and Associate Elena Ciresa.
The Binder Groesswang team included Partner Andreas Hable, Attorneys-at-Law Hermann Beurle and Moritz Salzgeber, and Associate Johanna Mueller.
The PHH team was led by Counsel Philip Rosenauer and included Partners Rainer Kaspar, Nicolaus Mels-Colloredo, and Julia Fritz, Senior Associate Wolfgang Guggenberger, and Associates Ramona Maurer and Dominic Zehetgruber.