Austria: Schoenherr advises EIC Fund on sale of its share in AVILOO GmbH

Founded in 2018 by Wolfgang Berger and Nikolaus Mayerhofer and headquartered near Vienna, AVILOO has grown from an Austrian start-up into the global market leader for independent battery diagnostics for used electric vehicles and plug-in hybrids. The company's product offering provides an objective, manufacturer-independent assessment of battery health, delivering results in around three minutes.

"We are delighted to have supported the EIC Fund on this successful exit," said Schoenherr Partner Thomas Kulnigg, who led the advisory team together with Attorney at Law Clemens Pretscher. "AVILOO's growth story shows the strength of European deep-tech innovation and the important role of EIC Fund in supporting European start-ups from an early stage."

Established in 2020, the EIC Fund is the Venture Capital investment arm of the European Innovation Council. With a capitalisation of over EUR 4bln, it bridges the gap between public and private financing, supporting Europe's most promising start-ups and scale-ups.

The Schoenherr team advising the EIC Fund was led by Thomas Kulnigg (Partner) and Clemens Pretscher (Attorney at Law) and further included Maximilian Czernin (Attorney at Law) and Nikolaus Vetter (Associate).

AVILOO GmbH was advised by Brandl Talos, while Armira Growth was advised by Schindler and Invest AG by PHH.