Osborne Clarke advised gridscale GmbH on a EUR seven million financing led by Endeit Capital and EnBW New Ventures. The existing investors High-Tech Gründerfonds and EnjoyVentures also contributed to the financing round – the latter with the BLSW seed and growth fund. The investment will be used to develop personnel, new technologies and to expand the company internationally.
gridscale is a European IaaS and PaaS provider and creates a basis for sophisticated cloud solutions with its innovative technology. With its highly automated architecture, the Cologne-based company offers users a solution in which they can flexibly choose between a variety of Infrastructure-as-a-Service components (e.g. distributed storage solutions, load balancers and virtual servers) and complementary Platform-as-a-service elements (e.g. automatically scaling databases and IoT components).
An Osborne Clarke team led by corporate and venture capital partner Nicolas Gabrysch advised gridscale extensively on the investment and supported the successful execution of the transaction. The team also included Till-Manuel Saur (Venture Capital), Sebastian Hack, Marco Aatz (both Competition law) and Sonja Riedemann (Employment law).
Henrik Hasenkamp, co-founder and CEO of gridscale, commented on positive outcome of the financing round: "Working with Osborne Clarke is always a pleasure for me. As an internationally active law firm with extensive experience in the venture capital field, the involvement of Nicolas Gabrysch and his team was an obvious choice for me. And the result proves me right: The enormous speed and vast experience ultimately led to the transaction being completed in the shortest possible time."
