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Investment in Matternet
We have acted as legal advisors of Phaistos Investment Fund in relation to its investment in Matternet, a US-based company that provides micro-transport services with the use of drones in urban areas in Europe, North America, and the Middle East. As part of the investment agreement, Matternet will establish a subsidiary in Greece (Matternet Europe) for the management of its European operations.
Matternet uses drones for delivering items weighing up to two kgs in urban areas and within a 20-km range. The company has developed an innovative cloud-based platform with the ability to use the capabilities of 5G networks, for the secure management of the fleet through the use of encrypted communications. Furthermore, Matternet has developed liftoff/landing stations that also operate as charging stations for drones. The list of the investors of Matternet includes Boeing, through HorizonX Ventures, Sony, through the Sony Innovation Fund, Mercedes-Benz, and Swiss Post and according to independent studies, the global market for drone-based urban transport will reach USD 56 billion in 2030 and USD 1 trillion by 2040.
Μatternet Europe will be based at “Lefkippos” Technology Park of the National Centre for Scientific Research “Demokritos”, where it will collaborate with the scientific team of the Media Networks Lab. “Demokritos” is part of the collaboration network 5G Ventures has developed for the support of Phaistos’ investees with infrastructure, know-how, and access to R&D resources.