Wallberg & Cie. accompanies tech start-up Flyby at seed round

Munich — The start up Flyby closes a seed finan­cing round in its holding company Kalaan GmbH (herein­af­ter “Kalaan”) with the parti­ci­pa­tion of inves­tors, busi­ness angels and friends & family. A total of 15 parties parti­ci­pa­ted in the seed finan­cing round, inclu­ding inves­tors from the United Arab Emira­tes, the United States, Canada and the United Kingdom.

Flyby deve­lops soft­ware and hard­ware to opti­mize last mile deli­very. Flyby has deve­lo­ped a digi­tal deli­very box (photo) and fully inte­gra­ted soft­ware for this purpose. The use of the paten­ted digi­tal smart­box enables a signi­fi­cant increase in effi­ci­ency of the last mile, among other things through fully digi­tal mobile displays and geo track­ing. Flyby will initi­ally be active in Dubai, United Arab Emira­tes, with market entries plan­ned in other count­ries, inclu­ding Germany, and the USA.

Wall­berg & Cie provi­ded legal advice to Kalaan on the finan­cing round, in parti­cu­lar draf­ting and nego­tia­ting the docu­men­ta­tion for the finan­cing round. As the inves­tors had mainly issued conver­ti­ble loans prior to the finan­cing round, the main objec­tive of the finan­cing round was to ensure the stable conver­sion of debt into equity. Due to the inter­na­tio­nal circle of inves­tors and foun­ders, various cross-border legal aspects had to be considered.

“It is remar­kable how much inter­na­tio­nal inte­rest Flyby has attrac­ted within a very short time: As a result, the circle of inves­tors was unusually inter­na­tio­nal for a seed finan­cing round. It was a great plea­sure to legally accom­pany this inter­na­tio­nal and extre­mely promi­sing project toge­ther with the foun­ders,” says tran­sac­tion expert Dr. Sabel.

About Kalaan

Kalaan, based in Munich, was foun­ded in 2020. The concep­tion, deve­lo­p­ment and produc­tion of the paten­ted digi­tal smart box was accom­pa­nied from the begin­ning by an inter­na­tio­nal team of engi­neers, soft­ware deve­lo­pers and marke­ting experts. The inter­na­tio­nal foun­ding team has strong roots in the market of the United Arab Emira­tes, which is ideally suited for market entry due to the high density of deli­very services. Due to the considera­ble rele­vance of the last mile for the profi­ta­bi­lity of deli­very services world­wide, Kalaan’s valua­tion at the time of the seed finan­cing round is alre­ady in the double-digit million range.

Consul­tant Flyby: Wall­berg Law Tax Advi­sory GmbH & Cie. KG

Dr. Simon Sabel, Tran­sac­tions, Corpo­rate Law

About Wall­berg & Cie.

Wall­berg Law Tax Advi­sory GmbH & Cie. KG is a specia­li­zed legal and tax consul­tancy based in Munich. The foun­ders combine their enthu­si­asm for legal and tax advice with a strong tech­no­lo­gi­cal and digi­tal DNA. The focus of Wall­berg & Cie. lie in the areas of corpo­rate law, tax law and law of the digi­tal world with a focus on digi­ta­liza­tion, tran­sac­tions and inter­na­tio­nal aspects. The exper­tise of Wall­berg & Cie. is regu­larly in demand for complex projects, espe­ci­ally in finan­cing rounds.