Walberg & Cie. advises international technology start-up Flyby in seed financing round

Munich — The start-up flyby closes in holding company Kalaan GmbH (hereinafter”Kalaan“) a seed financing round involving investors, business angels and Friends & Family. A total of 15 parties took part in the seed financing round, including investors from the United Arab Emirates, the USA, Canada and the UK.

The purpose of Flyby is the development of software and hardware to optimize Last mile delivery. Flyby has developed a digital delivery box and fully integrated software for this purpose. The use of the patented digital smartbox enables a significant increase in the efficiency of Last mile, including fully digital mobile displays and geo tracking. Flyby will initially be active in Dubai, United Arab Emirates; market entries in other countries, including Germany and the USA, are planned.

Walberg & Cie provided Kalaan with legal advice on the financing round, in particular drafting and negotiating the documentation of the financing round. Since investors mostly convert loans (convertible loans), as part of the financing round, it was primarily necessary to ensure the stable conversion of borrowed capital 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 period of time: As a result, the investor base for a seed financing round was unusually international. It was a great pleasure to legally support this international and extremely promising project together with the founders,” says transaction expert Dr. Sabel.

Kalaan, based in Munich, was founded in 2020. The design, development and production of the patented digital smart box was supported from the outset by an international team of engineers, software developers and marketing experts. The international founding team has strong roots in the United Arab Emirates market, which is ideally suited for market entry due to the high density of delivery services. Due to the significant worldwide relevance of Last mile For the profitability of delivery services, the valuation of Kalaan was already in the tens of millions at the time of the seed financing round.

Advisor Flyby
Walberg Law Tax Strategy GmbH & Cie. KG
Dr. Simon Sabel, Transactions, Corporate Law

About Walberg & Cie.
Walberg Law Tax Strategy 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. Walberg & Cie. focuses on corporate law, tax law and the law of the digital world with a focus on digitization, transactions and international aspects. The expertise of Walberg & Cie. is regularly required for complex projects, especially financing rounds.