Articles for November 2014

How to Invest in a Greek Private Company

Our vehicle of choice for the investments Openfund leads is a relatively new company type under Greek law titled “Private Company” (“Ιδιωτική Κεφαλαιουχική Εταιρεία” in Greek). As our portfolio grows and a number of parties are coinvesting or following up in our companies along with Openfund, a number of questions regarding the company type and related processes arise.

To address such issues, we’ve created a document providing more details on the company structure, as well as the practical steps of executing an investment, after agreeing on a term sheet.

The guide may be useful to Greek or foreign entities willing to participate in such an investment. More importantly, it shall provide entrepreneurs with a more transparent view of the underlying process. In this regard, we are proceeding today to make this document publicly available.


Talos Raises €200k to Turn Tablets to a Full Avionics Suite

Tablets and smartphones have built-in sensors that few people know about, and even fewer use to full effect. Yet you can now safely fly an aircraft using only your tablet, without any of the expensive dedicated instruments that surround most cockpits. This is the promise and the offering of Heraklion-based Talos Avionics. Using proprietary probabilistic algorithms, Talos achieves sensor fusion in tablets and smartphones, which is reliable enough to fly and navigate.

Aviation enthusiasts Pantelis & Lefteris Georgiadis, father and son cofounders, are about to launch a glass cockpit for light aircrafts that really works. The app is expected to become available on both iOS and Android devices within the next few months. Their next product will be a complete flight information system for gliders, a market for which nothing similar exists at the moment. The underlying core technology is also applicable to racing cars, or sailing; literally, the sky is the limit.

JEREMIE Openfund II has invested €200k to enable the company to perfect its initial products, and to gain traction in the aviation community within the next few months. We have just fastened our seat belts.