02 Dec 2020 | 09:35 am | 1 min. read
Pinsent Masons has advised Unbound on its investment in etone Motion Analysis GmbH (VAHA), a manufacturer of smart digital mirrors.
As part of the investment, the London-based investment firm Unbound contributed a multimillion euro amount as part of a series B financing round together with Porsche Ventures, TQ Ventures and existing investors Holtzbrinck and Rocket.
The Berlin start-up is a provider of smart workout mirrors for private use. It provides the user with a selection of live personal trainers to suit their specific fitness preferences and more than 200 online yoga, weight training and endurance workouts and meditation sessions. In addition, the VAHA Mirror enables the user to participate in video conferences. VAHA plans to use its funding for product development and the expansion of its distribution channels.
Pinsent Masons’ multi-disciplinary team offers deep industry insight into the retail and sport markets. Olivia Irrgang, lead counsel for Pinsent Masons in this transaction, said: "The coronavirus pandemic has become a catalyst for innovation, particularly in the retail and leisure markets. State-of-the-art smart fitness equipment are experiencing huge demand for investment given that gyms and leisure facilities are now closed and consumers look to invest their usual subscription fees in permanent fitness products which can be used at home. We are pleased to have successfully supported our client in this transaction and are eager to see how the investment develops."
The Pinsent Masons team of advisors included Olivia Irrgang (Private Equity, Corporate) and Peter Koch (IP) with support from Tobias Rodehau (Private, Equity Corporate), Johanna Storz (Corporate), Michael Reich (Competition) and Daniel Widmann (Data Protection).
Tobias specialises in small and mid-cap private equity transactions, with a focus on venture capital transactions.
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