Partners-You-Trust has advised EEC Magenta on PLN 10 million investment in SmokeD. Think Legal Kopinski i Wspolnicy advised SmokeD.
According to Partners-You-Trust, “funding will be allocated to the further development of the system for early detection of forest fires and increasing its sales force. The company intends to significantly increase its share of sales in the United States via its subsidiary smokeD LLC within a few months.”
SmokeD provides a fire automatic detection drone system in Poland and the US. The system is based on artificial intelligence, machine learning, and deep learning.
EEC Magenta is a venture capital growth stage investor.
“Forest fires in Poland do not pose a great threat to the population, but this situation will certainly change in the future,” SmokeD Founder Artur Matuszczak commented. “Our product detects smoke and flames from a long distance, locates the place of its origin, and informs the relevant services about it. A novelty on a global scale is the sales model in which we put emphasis on the sale of monitoring services, instead of the supply of equipment with a software license.”
The Partners-You-Trust team was led by Partner Michal Karwacki.
The Think Legal team included Managing Partner Oskar Kopinski and Associate Mikolaj Kowalczyk.