Ethiack Secures €4M in Funding Round with SRS Legal's Assistance
Deal News | Dec 17, 2024 | Iberian Lawyer
SRS Legal has advised Portuguese technology startup Ethiack in securing a €4 million funding round led by Explorer, one of the prominent venture capital firms in Europe. Ethiack, based in Coimbra, is focused on cybersecurity and is set to disrupt the market with the development of AI-based hackbots. This innovation aims to bolster cybersecurity efforts, addressing the challenges posed by the rapidly changing digital environment. SRS Legal's corporate & finance team, led by partner Paulo Bandeira and associate Solange Fernandes, played a critical role in facilitating this investment, which underscores their dedication to providing tailored legal solutions to emerging tech companies. This funding not only supports Ethiack's growth ambitions but also highlights the increasing global reach of Portuguese innovations in the tech industry.
Sectors
- Technology
- Cybersecurity
- Venture Capital
- Legal Advisory
Geography
- Portugal – Ethiack, the startup receiving investment, is based in Coimbra, Portugal.
- Europe – Explorer, the leading VC firm involved in the funding round, is based in Europe.
Industry
- Technology – The article discusses the involvement of Ethiack, a technology startup, and the development of AI-based hackbots, indicating a focus on technology.
- Cybersecurity – Ethiack is dedicated to cybersecurity, aiming to enhance solutions with its AI-based technology.
- Venture Capital – The funding round was led by Explorer, a venture capital firm, demonstrating the venture capital industry's role in financing innovation.
- Legal Advisory – SRS Legal’s involvement in advising on the funding round indicates the legal services industry’s role in facilitating such transactions.
Financials
- €4,000,000 – The total amount of funding secured by Ethiack in the round led by Explorer.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ethiack | Target Company | Company | A Portuguese technology startup focused on cybersecurity and developing AI-based hackbots. |
| Explorer | Bidding Company | Company | A leading European venture capital firm that led the €4M funding round. |
| SRS Legal | Legal Advisor | Company | Provided legal advisory services to Ethiack for the funding round. |
| Paulo Bandeira | Partner at SRS Legal | Person | Led the legal advisory team facilitating the funding round. |
| Solange Fernandes | Associate at SRS Legal | Person | Part of the legal advisory team at SRS Legal, aiding the funding round. |