1.9.2017

Fibria Celulose – Investment in Spinnova

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Private Equity & Venture Capital

Castrén & Snellman represented Fibria Celulose S.A. in their investment in Spinnova Oy. Through the investment, Fibria acquired a minority interest in Finnish-based Spinnova and a partner in the development, production and marketing of new materials using its technologies.

Fibria is a stock exchange listed Brazilian forestry company and the world’s leading producer of eucalyptus pulp from planted forests.

Spinnova is a startup that develops low-cost and environmentally sustainable technologies for making fabrics. The technologies use wood fibers to produce filaments and yarns that can replace cotton, viscose and other raw materials in both woven and nonwoven applications.

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Latest references

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We advised KoBold Metals on the Finnish legal and tax aspects related to its earn-in agreement with Aurion Resources. Under the agreement, KoBold (through its wholly owned subsidiary KoBold Exploration Finland Oy) can earn an undivided 75% interest in commodities discovered (other than any discoveries that are predominantly gold or silver), by incurring USD 12 million in exploration expenditures on or before the fifth anniversary of the date of signing the agreement. The exploration area covers approximately 35 km2 in Aurion’s 100% owned 160 km2 Risti Property in Sodankylä, Finland Following satisfaction by KoBold of the earn-in requirements, a joint venture will be established with KoBold owning 75% and Aurion 25%. KoBold Metals Company is a US-based exploration and mining company, supported by high profile investors such as Breakthrough Energy Ventures, Andreessen Horowitz, and Equinor. It combines expertise in geosciences with artificial intelligence, machine learning, and data science to improve and accelerate the exploration process in search of the critical minerals necessary for the global energy transition.

Castren & Snellman Ebrands funding round

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We assisted eBrands Holdings Oy in its latest funding round, during which the company raised 7.5 million euros. The new funding brings the company’s total raised capital to 50 million euros. The latest funding round was mainly led by the family investment company Veikko Laine, Varma Pension Fund, and operational shareholders. The funding will be used to develop eBrands’ AI-based Apollo market growth tool, which helps brands expand into sixty different markets and sales channels without local infrastructure or heavy investments. eBrands is an export platform that grows consumer brands globally through e-commerce and major retail channels. Specializing in the US and European markets, eBrands enables brands to internationalize with an export service model that reduces the risk and complexity associated with expansion by leveraging advanced technology. Founded in 2020, the Helsinki-based company’s team includes 75 people, and the company’s revenue exceeds 35 million euros.

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