PwC Legal advises SPRIND on investment in Hypersonica
A team of PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) has provided legal advice to the Federal Agency for Breakthrough Innovation (SPRIND) in connection with its participation in the Series B financing round of Hypersonica GmbH (Hypersonica).
Hypersonica, a mission-driven European defence and aerospace company, has received a total of around €100 million in investment in its Series B financing round.
The Series B round was led by Lightspeed and General Catalyst, with participation from the existing investors Plural, 201 Ventures and SPRIND. The funds will accelerate the development of Hypersonica's deep strike systems, increase testing frequency and advance reindustrialisation in Europe – with the aim of developing hypersonic deep strike systems by 2029 and thereby closing a gap in Europe's defence portfolio.
Hypersonica develops hypersonic systems for military and civilian applications, with the aim of strengthening the independence of European defence capabilities while advancing technologies that foster prosperity and innovation. The company was founded at the end of 2023 by University of Oxford doctoral students Dr Marc Ewenz and Dr Philipp Kerth. It is headquartered in the Greater Munich area and has a wholly owned subsidiary in London.
SPRIND, the Federal Agency for Breakthrough Innovation, was established in 2019 with its registered office in Leipzig. Its sole shareholder is the Federal Republic of Germany, represented by the Federal Ministry for Research, Technology and Space (BMFTR). SPRIND is funded from the federal budget. SPRIND’s Managing Directors are Rafael Laguna de la Vera and Berit Dannenberg.
Advisers to SPRIND
PwC Legal (Berlin):
Moritz Gröning (lead), Rebecca Klenke, Stephan Söbbeke (all Deals/M&A),
Jan Philipp Otter (Hamburg), Steffen Sühnel, Ricarda Völker (all State Aid Law)
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