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CMS advises Access Industries as lead investor in round of financing for Ada Health app

02/11/2017

Cologne – Start-up Ada Health has raised EUR 40 million (USD 47 million) in a round of financing. The lead investor is Access Industries, a privately held industrial group based in the US. Global technology investor June Fund and Berlin-based Cumberland VC also joined the funding round, alongside existing investors.

An international CMS team headed by Paul Guite, Klaus Jäger and Marcus Wuntke advised Access Industries on all the legal aspects.

Ada Health is one of the world’s fastest-growing health apps and has been ranked number one in the medical category in over 130 countries. The application combines artificial intelligence (AI) with the medical expertise of actual doctors. Ada aims to help people understand and manage their health. The new funds will be used to strengthen Ada’s operations, including a new office in the US, as well as to expand its service offering and product development.

“Advising Access is an excellent example of how CMS can deliver advice across countries and sectors. Our TMT/M&A excellence cluster brings together our specialist legal and industry knowledge from both areas, thereby successfully facilitating this investment by Access,” said Klaus Jäger.

“We are delighted to have supported Access on this strategic investment. Ada is one of the most exciting companies in health and AI, and is setting a new standard for health management. Access has a long history of investing in transformative companies, and we are sure this will be another rewarding partnership,” commented Paul Guite.

Access was founded by American entrepreneur and philanthropist Len Blavatnik. It invests in highly promising start-ups to maximise long-term value by developing regional and global leaders. Its industrial focus spans four key sectors: natural resources and chemicals; media and telecommunications; real estate and hospitality; and venture capital.

CMS Germany

Klaus Jäger, Partner, Corporate
Marcus Wuntke, Counsel, Corporate, both Lead

CMS UK

Paul Guite, Partner, Corporate, Lead

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Related people

Klaus Jäger
Klaus Jäger
Partner
Cologne
Marcus Wuntke, LL.M. (University of Sydney)
Paul Guite
Paul Guite
Partner
London