GRUENDELPARTNER advises TGFS on seed financing of Last Mile Semiconductor

Technologiegründerfonds Sachsen (TGFS) is investing a seven-figure sum in Last Mile Semiconductor GmbH as part of seed financing together with the European Innovation Council Fund (EIC Fund) and Mittelständische Beteiligungsgesellschaft Sachsen (MBG).

Founded in 2022, the deep-tech start-up Last Mile Semiconductor GmbH (LMS) develops energy-efficient, high-security chips for the Internet of Things (IoT). As a "fabless chip company", LMS focuses on the development and design of highly integrated system-on-chip (SoC) solutions and outsources production to specialised semiconductor manufacturers.

The TGFS is an equity capital partner in Saxony for the seed and start-up phase. 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. The TGFS entered its third fund generation in 2023.

GRUENDELPARTNER provided the lead investor TGFS with comprehensive legal advice on the due diligence and contract negotiations as part of the financing round.

GRUENDELPARTNER's M&A, Venture Capital, Private Equity practice group is one of the most experienced and best-staffed advisory units in Central Germany and supports investors and entrepreneurs in all phases of development, in particular in company formation, company development, corporate financing and all exit processes.