Ontier has advised Cycle Platform, a fashion e-commerce startup based in Asturias and founded in 2022, in the closing of a €500,000 pre-seed investment round. The round was led by the investment platform Startupxplore, the tech company Galeo, ENISA, and a Family office based in London.
Cycle Platform, winner of the Asturias Investor’s Day 2022 and Caixa Emprende XXI Awards in 2023, aims to address the issue of textile waste and achieve greater sustainability, through reorganising the fashion industry. Proposing the implementation of a new e-commerce model supported by a specific tech platform, Cycle Platform hopes that this will allow the unitary identification of all items, and full compliance with European regulations.
Ontier oversaw this round of negotiations, of the various private shareholders and investor agreements and prepared corporate documentation related to new investors.
The Ontier team advising on this deal was Daniel Gutiérrez, Director of Innovation and Digital Law, Ignacio Arce, Corporate and M&A associate, and Laura Zaldívar, Innovation and Digital Law associate.
This article was first featured in Ontier with Cycle Platform in a $500,000 investment round, Iberian Lawyer