Berlin – SMP's Benjamin Ullrich and Martin Schaper have advised early-stage investor and operational VC Project A on its investment in the AI platform Pactum as part of its recent Series A financing round. US co-counsel was Raoul Duggal of Buhler Duggal & Henry. Pactum, incorporated in Mountain View, California, and with its operations based out of Estonia, has raised another $11 million (approx. €9.1 million) of venture capital in this round to fund its further expansion. The round was led by London based VC Atomico. Among Project A, also the investors Jaan Tallinn, Ott Kaukver, Taavet Hinrikus and Sten Tamkivi participated.
Pactum was founded in 2019 by Kaspar Korjus, Martin Rand and Kristjan Korjus and is an artificial intelligence platform that enables companies to automate personalised commercial negotiations.
"Having seen the impressive IPO of Uipath from Romania just a few days ago, Pactum is on its way to become another Eastern European success story. It is great to see tech companies from this region continue to thrive on the global market – which also benefits investors from early financing rounds," says SMP Partner Benjamin Ullrich.
Project A is an operational VC that provides capital, network, and exclusive access to a wide range of operational expertise. The Berlin-based investor with $500 M assets under management backs early-stage companies in the digital technology space.
Pactum is an Estonian-founded artificial intelligence platform. Its AI automates contract negotiations between businesses and their suppliers and solutions providers. It can complete complex negotiations in just a few clicks and find an agreement for both parties in as little as 15 minutes.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 60 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.