06.06.18

BMH BRÄUTIGAM advises emerging blockchain and AI startup XAIN on record seed financing round with Earlybird Ventures and strategic asian investors

BMH BRÄUTIGAM has advised the Berlin-based blockchain and AI startup XAIN in almost EUR 6 million seed financing round.

XAIN, originated as an Oxford University spin-off, was founded in February 2017 by Leif-Nissen Lundbæk and Felix Hahmann. XAIN’s mission is to make blockchain technology mature for deployment at the enterprise level, providing production readiness for the digitization and rapid transformation of ecosystems. XAIN develops a technology layer on which such ecosystems can create services and products in a flexible and secure manner: cybersecurity protocols are combined with distributed access control for the resilient and fine-grained control of access to machines, data, and other resources. XAIN, winner of Porsche’s first Blockchain Innovation Contest in 2017, has developed its own consensus mechanism (Proof of Kernel Work) tailored to the needs of its own technology layer. Besides the well-known institutional investors Earlybird Ventures a merger of Asian Investors with access to the Chinese digital market participated in that seed financing round. The provided investment will give XAIN the opportunity to scale up activities and to hire additional employees. Background: BMH BRÄUTIGAM was mandated on the basis of recommendations from the market. BMH BRÄUTIGAM is pleased to continue to provide ongoing legal services to XAIN in the future after conclusion of the seed financing. Team BMH BRÄUTIGAM: Dr. Patrick Auerbach-Hohl (Lead), Bastian Reinschmidt (Lead), Dr. Alexander Wulff (all Venture Capital/ Corporate), Katharina Erbe (Venture Capital/ IP/IT)