Munich – The start up Flyby closes a seed financing round in its holding company Kalaan GmbH (hereinafter „Kalaan“) with the participation of investors, business angels and friends & family. A total of 15 parties participated in the seed financing round, including investors from the United Arab Emirates, the USA, Canada and the United Kingdom.
The object 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 efficiency of the last mile, among other things through fully digital mobile displays and geo tracking. Flyby will initially be active in Dubai, United Arab Emirates, with market entries planned in other countries, including Germany, and the USA.
Wallberg & Cie provided legal advice to Kalaan during the financing round, in particular drafting and negotiating the documentation for the financing round. As the investors had predominantly issued convertible loans prior to the financing round, the main task in the financing round was to ensure the stable conversion of the debt capital into equity. Due to the international circle of investors and founders, various cross-border legal aspects had to be taken into account.
„The international interest Flyby has attracted within a very short time is remarkable: As a result, the circle of investors was unusually international for a seed financing round. It was a great pleasure to legally accompany this international and extremely promising project together with the founders,“ says transaction expert Dr. Sabel.
Kalaan, based in Munich, was founded in 2020. The conception, development and production of the patented digital smart box was accompanied from the beginning by an international team of engineers, software developers and marketing experts. Due to the international founding team, there are strong roots in the market of the United Arab Emirates, which is ideally suited for market entry due to the high density of delivery services. Due to the considerable relevance of the last mile for the profitability of delivery services worldwide, the valuation of Kalaan at the time of the seed financing round is already in the double-digit million range.
Wallberg Law Tax Advisory GmbH & Cie. KG
Dr. Simon Sabel, Transactions, Corporate
About Wallberg & Cie.
Wallberg Law Tax Advisory 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. Wallberg & Cie. focuses on corporate law, tax law and law of the digital world with a focus on digitalization, transactions and international aspects. Wallberg & Cie.’s expertise is regularly in demand for complex projects, especially in financing rounds.