Carey Olsen advises AI start-up Tractian on $55 million funding round
Carey Olsen's corporate team in the Cayman Islands has advised tech start-up Tractian on its US$55 million Series B funding round. The round was led by US venture capital fund General Catalyst and comprised $45M in fresh capital and $10M in secondaries.
Founded in 2019, Tractian offers clients streamlined hardware-software solutions that monitor operations and use AI to predict and prevent mechanical failures. The company is now valued at US$205 million.
Tractian's founders Igor Marinelli, Gabriel Lameirinhas and Leonardo Vieira will be leading the company to use the newly raised capital to grow operations in Mexico and to drive its expansion to the US.
Carey Olsen's Alistair Russell, Trevor McCabe and Evan Stitt advised on all Cayman law aspects of the matter, working in partnership with onshore counsel Carvalho Magalhães.
