Newcastle firm advises on London AI firm's tech investment deal
Newcastle-based commercial law firm Watson Burton has advised London-based artificial intelligence (AI) specialist GoodVision on its latest restructure and investment.
The law firm, which specialises in corporate, employment, real estate, construction and dispute resolution, advised on an in-house share-for-share exchange, enabling a €500k investment from Bulgarian investor Neo Ventures.
Originally founded in Prague by Daniel Stofan and Lukas Hruby, GoodVision has established London as its primary base of operations. The company provides artificial intelligence solutions that automate city traffic analytics through its flagship product, ‘Video Insights’.
Daniel Stofan, co-founder of GoodVision, commented: “Watson Burton managed the deal very well, thus we felt the whole process was really straightforward – we had complete trust and confidence in their abilities.
“We recognised the UK as a healthy and well developed market that holds strategic importance for commercial companies, traffic engineers and traffic surveyors looking for reliable solution for traffic analytics.
“We’re delighted to have been able to receive Neo Ventures’ trust and funding, which is enabling us to focus on growing our user base.”
Paul Wigham, partner at Watson Burton, added : “It has been fantastic for Watson Burton to advise on this deal because it was an international investment into a UK company, which has roots in the Czech Republic and with the funding being provided by a Bulgarian firm.
“It’s a great achievement for Daniel and Lukas to have taken their business through this first investment round and we look forward to working with them and supporting them with future growth plans.”
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