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Maples Advises Carbon Negative Construction Company with US$21 Million Series A Funding

05 Apr 2022

Maples and Calder, the Maples Group's law firm, is pleased to have advised LEKO LABS with their Series A funding that closed on 22 February 2022.  LEKO LABS raised US$21million, which is one of the most substantial capital raising deals in the sustainable building sector in Europe to date.  The investment was led by urban sustainability-focused fund, 2150, with participation from the Microsoft Climate Innovation Fund, Tencent, AMAVI Capital, Rise PropTech Fund, Extantia and Freigeist.

LEKO LABS is a 'carbon negative' wooden construction company that designs, engineers and manufactures sustainable buildings for individuals and communities, including a novel wall and floor system, based entirely on wood and wood fibre, which is capable of replacing up to 75% of concrete and steel currently used in constructing a single building.  The funding will enable LEKO LABS to scale its advanced software and robotic construction solution throughout Europe. 

A team based in the Maples Group's Luxembourg office acted as Luxembourg counsel to LEKO LABS, assisting with legal matters regarding the pre-series A restructuring and leading the series A funding legal matter from a Luxembourg law standpoint.  The team was led by Luxembourg Corporate Partner, Baptiste Aubry, with assistance from Corporate Associates, Timothée Gras.

Commenting on the transaction, Baptiste Aubry said, "We are proud to have assisted LEKO LABS and its investors in this remarkable transaction.  The funds raised will be used towards initiatives that will revolutionise the construction industry not only in Luxembourg but throughout Europe and will support combating climate change for a more sustainable future".

Orrick UK advised LEKO LABS as UK counsel.

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