Flick Gocke Schaumburg advises IOTA founder on investment in Xain

Flick Gocke Schaumburg advised Dominik Schiener, co-founder of the crypto- currency Iota, on an investment in the Berlin AI start-up Xain as part of a financing round. It is Dominik Schiener’s first major venture capital (VC) investment. VC investor Earlybird and investors from Asia had already invested in Xain last year.

Xain focuses on federated machine learning. The company, founded in 2017, develops software for the training of artificial intelligence. Xain’s partners and customers include Porsche.

Since 2015, the cryptocurrency IOTA has become one of the largest digital means of payment worldwide. The foundation behind IOTA has 115 employees in 23 countries.

Advisers to Dominik Schiener:
Flick Gocke Schaumburg, Berlin: Mathias Bülow (lead), Martin Oltmanns (both private equity/M&A), Florian Kutt (tax); associate: Christian Vandersmissen (tax)