Create, Fund, Interest and Explore

Startup developing an IoT solution for the industrial sector

Our client is a startup developing an IoT solution for tracking assets in the industrial sector.
Its founders asked for our support from day one: they wanted to start their business with the appropriate structure, have a proper seed fundraising round and hire their CTO.
Our Solution

At the very beginning, our advice was to start with the basics: incorporate a SAS and, assuming that the project’s success depends above all on the commitment of its founders, set up a founders’ agreement to provide for various scenarios including cases of exclusion, inalienability of shares and exit clauses.

A few months after, our client raised 600K€ from various investors.

Instead of raising all the funds at once, which would have forced our client to wait several weeks to receive the funding, we set up a power of attorney in favour of the company’s President, which allowed the startup to access the funds as they were received. At the same time, we drafted a new shareholders’ agreement including an antidilution clause and a strong disincentive for founders to leave the company prematurely. Finally, in anticipation of the upcoming hiring of a CTO, we set up an option plan.  


Our client was able to benefit quickly from the funds raised, investors’ rights were assured in a balanced shareholders’ agreement, and the future CTO knows that he will join a well-managed company and that his work will be rewarded.