GRUENDELPARTNER advises TGFS on Peeriot’s late-seed funding round

As part of a late-seed funding round, the Technology Start-up Fund Saxony (TGFS) is investing a seven-figure sum in Peeriot GmbH, alongside co-investors beteiligungsmanagement thüringen gmbh (bm|t) and Companisto. The funding will enable Peeriot GmbH to develop and launch the first market-ready version of its community product, Myrmic, and to drive the community’s growth consistently.

Peeriot GmbH, a deep-tech start-up founded in 2022, has set itself the task of simplifying the networking of IoT devices, thereby significantly reducing complexity and costs.

TGFS is an equity partner in Saxony for the seed and start-up phases. The fund was first launched in 2008 by the Free State of Saxony and Saxon financial institutions and has supported over 100 start-ups since then. In 2023, TGFS launched its third fund generation.

GRUENDELPARTNER provided comprehensive legal advice to the lead investor, TGFS, during the contract negotiations as part of the financing round.

GRUENDELPARTNER’s M&A, Venture Capital and Private Equity practice group is one of the most experienced and largest advisory teams in Central Germany and supports investors and entrepreneurs throughout all stages of development, particularly in company formation, business development, corporate financing and all exit processes.