BMH BRÄUTIGAM advises Xayn on € 10 million financing round
BMH BRÄUTIGAM has advised Berlin-based AI startup Xayn on its recently closed € 10 million Series A financing round.
In addition to the two lead investors Global Brain and KDDI, existing investors Earlybird Venture Capital and Dominik Schiener also participated in the round. The current round brings the company's total funding to € 19.5 million. Founded in 2017 by Dr. Leif-Nissen Lundbæk (Chief Executive Officer), Professor Michael Huth (Chief Research Officer) and Felix Hahmann (Chief Operations Officer), the AI company's app, which was released in late 2020, combines a search engine, discovery feed and mobile browser with personalization, privacy and intuitive design. Based on recent AI research from Europe, the app thus ushers in a new generation of user-friendly privacy technology. Instead of bringing the data to the algorithms, as is usually the case, Xayn brings the algorithms to the data, therefore enabling AI training directly on users' devices. The launch of a version for desktop devices is planned for the near future. With the newly acquired capital, Xayn plans to further develop its app and expand into the Asian market with a particular focus on Japan. Background: The BMH BRÄUTIGAM team has been advising Xayn on a general ongoing basis as well as on financing rounds since 2018. We are pleased to further strengthen and expand our client relationship with Xayn. Team BMH BRÄUTIGAM: Bastian Reinschmidt, Tina Schmidt, Dr. Raoul Moritz Nissen, Daniel Schlichting, Maximilian Frink, Jonas Kiehne (all Venture Capital)