14 November 2022
E+H advised Flapjack GmbH, an emerging and growth-oriented, deep-tech, Graz-based start-up, on the closing of a pre-seed convertible loan financing round with investors from Graz and Vienna. Flapjack specializes in the development of self-learning software for robots in a wide range of application areas. Flapjack’s technology is particularly dedicated to the adaptability of robots by observing and mimicking humans, through perception technology and imitation learning.
Flapjack is using the investment amount to complete the research and development of the “MVP” (Minimum Viable Product) and to further expand its operations.
“We are pleased to have been able to support Flapjack and its founders in closing their first growth financing and wish Flapjack and the entire team all the best as they continue to establish themselves in the market and take the next steps in their growth,” said E+H venture capital and start-up expert Steve Jeitler, who was lead advisor on the transaction along with the support of Philipp Schrader and Florian Vidreis.
“With the help of our investors, partners, and Austrian public funding agencies, we have the opportunity to lay the foundation for Flapjack’s revolutionary robotic software interface to help companies and manufacturing industries meet the challenge of labor shortages in the next decade,” said Matthias Zöhrer, founder and CTO of Flapjack GmbH. “E+H’s efficient and structured approach enabled us to complete the pre-seed round successfully and quickly,” said Stefan Dineci, founder and CEO of Flapjack. “Having someone who can cover all legal matters in addition to providing trusted advice is very efficient and helpful.”
E+H Team
Steve Jeitler (Attorney, Corporate + M&A; lead), Philipp Schrader (Partner, Corporate + M&A), Florian Vidreis (Associate, Corporate + M&A)
About the E+H Start-up Desk
The E+H Start-up Desk, headed by Philipp Schrader and Steve Jeitler, provides support to innovative and growth-oriented start-ups. With information and advice on founding and growth, the E+H Start-up Desk offers tailored support and practical knowledge at the next level throughout the entire life cycle of a start-up.
About Flapjack
Flapjack is a deep-tech, Graz-based start-up founded in May 2022, which operates in the field of robotics. They focus on expanding the independent further development process of robots through observing and imitating humans. This can significantly reduce integration costs for companies. Flapjack’s motto is: “We teach robots so people don’t have to be robots.” Flapjack GmbH is supported in the ESA Business Incubation Centre Austria and has its office and laboratory in the Science Park Graz.
