Djingov, Gouginski, Kyutchukov & Velichkov has advised the founders of tech start-up MYX AD on EUR 350,000 invested into the company by a group led by New Vision 3 Fund KD.
MYX works mainly in the telecom sector, generating and analyzing digital representations of telecommunications cell towers and other infrastructure. The company combines data from a variety of sources - satellites, piloted aircraft, drones, and mobile phones - to create 3D virtual copies of the real world that can then be analyzed with AI algorithms, to yield information such as signal propagation, angle of antennas, tracking of broken parts, rust monitoring, and others.
According to DGKV, ”the investment amount came from a mixed group of co-investors, of which New Vision 3 Fund KD was the lead partner, utilizing funding from the Fund of Funds." According to the firm, “MYX received debt financing convertible into equity for the development of the company’s business. In this way the investors acquire direct corporate control rights, in their capacity as bondholders, and thereafter the conversion of the bonds into equity happens almost automatically and cost-free.”
DGKV’s team was led by Partner Stephan Kyutchukov and included Associate Peter Angov.