Bird & Bird advises Standard Industries on PhysicsX’s $32 million Series A fundraising
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Bird & Bird has advised the venture investment arm of longstanding client Standard Industries, a global industrial provider of world-class building solutions, performance materials, logistics, real estate and next-generation solar technology, on its investment into AI startup company PhysicsX.
PhysicsX, co-founded by two theoretical physicists with experience in Formula One engineering and quantum computing, has developed an AI platform that can test and optimise physical systems faster and more accurately than manual simulations, creating value for both the buyer and the seller of the asset in question.
Standard Industries invested alongside General Catalyst, NGP Energy, Radius Capital & KKR co-founder Henry Kravis in a $32 million Series A financing round.
The Bird & Bird team was led by Matt Bonass (Corporate, partner), Adam Meisels (Corporate, partner) and William Alms (Corporate, associate).
Adam Meisels commented: “We are proud to have advised Standard Industries on this strategic investment in PhysicsX, a cutting-edge AI startup. This transaction showcases our firm’s deep expertise and focus on technology, as well as our ability to support our long-standing clients in identifying and partnering with emerging leaders in the field of AI and simulations. We look forward to continuing our strong relationship with Standard Industries and helping them achieve their innovation and excellence goals across their diverse portfolio of businesses.”