VC investor Cherry Ventures has acquired shares in Frankfurt-based pharmaceutical/life sciences service provider ChemSquare GmbH as the lead investor. In addition to Cherry Ventures, Auxxo Beteiligungen, business angels and APX also acquired an equity interest as part of the EUR 1.7 million capital increase. The start-up plans to use the financing to expand its services beyond the chemical industry from which it takes its name.
A CMS team from the Frankfurt office by Dr Florian Plagemann, Dr Tobias Kilian and Dr Heike Wagner advised ChemSquare on all legal aspects of the financing round. The team regularly advises start-ups and investors on financing rounds. ChemSquare is also a member of equIP, CMS’s own start-up support programme. The aim of the CMS equIP programme is to support start-ups and young innovative companies in the digital and tech industry and enable them to become strong contenders for Series A financing. To achieve this, CMS provides firms with comprehensive legal advice while engaging with their entrepreneurial objectives.
ChemSquare GmbH, headquartered in Frankfurt am Main, is developing a platform for supplier certification. The aim is to create a digital network that links customers, suppliers, auditors, subcontractors and official bodies, enabling quality-related data to be exchanged continuously and securely. This requires a global pool of independent and accredited auditors who regularly audit suppliers worldwide, depending on requirements, and publish the results on the ChemSquare platform. Customers benefit from access to quality-related information at any time without having to carry out extensive audits themselves.
Berlin-based Cherry Ventures is a VC investor with a Europe-wide focus on seed-stage companies.
Axel Springer Porsche GmbH & Co. KG (APX), headquartered in Berlin, is a joint venture between Axel Springer and Porsche. It mainly makes early-stage investments. APX was already a major investor in ChemSquare prior to the current financing round and has now expanded its stake.