Penningtons Manches Cooper advises Oxford University spin-out on equity funding round

Posted: 12/08/2019

Penningtons Manches Cooper has acted for Zegami, the augmented intelligence company, on its recent £1.25 million equity fundraise led by RT Capital Management and the Oxford Technology and Innovations EIS Fund, with existing investors Oxford Sciences Innovation and Oxford University Innovation also contributing.

Senior associate, Attilio Leccisotti advised Zegami on corporate matters with tax advice provided by partner, Kathy Hills.

Spun out from Oxford University in 2016, Zegami’s platform takes complicated datasets and enables a whole organisation’s workforce to be able to engage with data through visual data exploration. The platform allows users to easily filter, tag and sort data by presenting it in an intuitive, engaging way.

Together with previous equity rounds and funding, Zegami is investing £4m into democratising data analysis using machine learning to enable organisations to bring structure to their data, making it immediately comprehensible to the human eye through dynamic interactive visualisation.  At the touch of a button, clients can augment and explore their data – documents, PDF, images, audio, maps and video – and see the results displayed visually on a single screen.

Attilio Leccisotti, commented: “Penningtons Manches Cooper is delighted to support Zegami in securing funding to continue to develop and commercialise their augmented intelligence platform. The transaction illustrates the type of work our VC team regularly undertakes within Oxford’s vibrant spin-out and emerging technologies community - providing full service legal support to IP intensive companies in their venture fundraising”.

The firm’s involvement in the deal is another example of the strength of its venture capital team in advising clients on both venture and growth capital transactions in the technology and life sciences sectors. The team acted on over 90 VC and fundraising transactions in 2018.

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