Photoneo Secures Record Financing for Brightpick Expansion
Deal News | Jan 14, 2025 | CEE Legal Matters
In a notable transaction, Photoneo, a leading technology company, has secured debt and equity financing valued at USD 12 million, facilitated by the European Bank for Reconstruction and Development (EBRD). The financing arrangement, comprising a EUR 5 million venture debt, marks a significant milestone as the largest of its kind in Slovakia. This strategic investment aims to bolster Brightpick—a division of Photoneo dedicated to developing automated robotic systems—in its expansion into the U.S. market. Legal counsel for Photoneo was provided by Havel & Partners, with Bird & Bird advising EBRD. The deal underscores the EBRD's commitment to supporting innovative firms and startups through its Venture Capital program.
Sectors
- Technology
- Finance
Geography
- Slovakia – Photoneo, the recipient of the financing, is based in Slovakia.
- United States – The financing is intended to support Brightpick's expansion into the U.S. market.
Industry
- Technology – Photoneo is a technology company focused on developing automated robotic systems, particularly through its Brightpick division.
- Finance – The article revolves around debt and equity financing for business expansion.
Financials
- USD 12 million – Total financing amount, combining debt and equity, provided by EBRD to Photoneo.
- EUR 5 million – Venture debt portion of the financing, noted as the largest of its kind in Slovakia.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Photoneo | Target Company | Company | A technology company focused on developing automated robotic systems. |
| European Bank for Reconstruction and Development | Bidding Company | Company | The provider of debt and equity financing to Photoneo. |
| Havel & Partners | Legal Advisor to Photoneo | Company | Legal firm providing guidance to Photoneo in the financing deal. |
| Bird & Bird | Legal Advisor to EBRD | Company | Legal firm advising the EBRD in the financing transaction. |
| Jaroslav Baier | Partner | Person | Partner at Havel & Partners involved in advising Photoneo. |
| Kristina Saktorova | Associate | Person | Associate at Havel & Partners involved in advising Photoneo. |
| Miriama Podskubova | Associate | Person | Associate at Havel & Partners involved in advising Photoneo. |
| Robert Kosala | Junior Associate | Person | Junior Associate at Havel & Partners involved in advising Photoneo. |