Djingov Gouginski Kyutchukov & Velichkov has advised the European Innovation Council on leading a EUR 2.5 million investment round in Transmetrics. Dinova Rusev & Partners reportedly advised Transmetrics.
According to DGKV, “existing shareholders and angel investors joined the EIC Fund in underwriting Transmetrics’s growth ambitions ahead of a planned Series A round.”
Transmetrics is an AI platform whose software is designed to deal with inefficiencies in the logistics sector, such as freight vehicles running half-empty, by facilitating higher fleet utilization rates and lower transport-related expenses and carbon emissions.
“In charge of a dedicated budget of EUR 10.1 billion, the EIC is the EU’s preeminent program with funding opportunities for breakthrough technologies and game-changing innovations,” DGKV informed. “The EIC Fund manages investments of up to EUR 15 million per recipient in the form of patient capital provided to competitively selected SMEs and start-ups for scale-up and other relevant costs.”
According to the firm, the “EIC funding will enable Transmetrics to further improve its technology, boost its client portfolio of logistics service providers, and contribute to sustainability and efficiency in the industry.”
DGKV’s team included Partner Valentin Bojilov and Associate Zhanet Miteva.