Herbert Smith Freehills advises Streambased on US$2.7 million funding

Leading international law firm Herbert Smith Freehills has advised Streambased Ltd (Streambased), a pioneering force in streaming data analytics and management, on its US$2.7 million in seed funding led by Elaia. Other backers include Seedcamp, TKM and First Momentum as well as industry expert angels. This funding round will go towards hiring and R&D to expand their tech capabilities.

Founded in 2023, Streambased, takes a revolutionary “shift left” approach to data management, maintaining data in its original form at the point of creation. Streambased technology massively accelerates the discovery and access to raw datasets by combining mission critical data storage and processing technology with new query acceleration technology. Focusing on the de-facto standard real-time data technology: Apache Kafka, Streambased’s integration and acceleration technology addresses a critical bottleneck in data availability for exploratory, debugging, strategic decision making, reporting and AI applications. 

The Herbert Smith Freehills team was led by co-head of the Venture and Growth Capital practice Dylan Doran Kennett, supported by London head of the Private Equity practice John Taylor, UK head of the Competition, Regulation and Trade practice Veronica Roberts, London head of the Renumeration and Incentives practice Paul Ellerman, global head of the Data Protection and Privacy practice Miriam Everett, partner Peter Dalton, senior associates Niall Crean and Christopher White, and associates Mohamed Sabry Salama and Alexandra Bunge in the London office, and partner Christopher Theris and associate Nicolas Pegou in the Paris office.

Leo Delmouly, Streambased co-founder, says: "We couldn’t be more thrilled with the support and guidance we received from Herbert Smith Freehills throughout our seed round. Their deep understanding of the unique challenges startups face made a complex process feel seamless. They’ve been great partners in helping us secure the foundation for our next phase of growth, and we’re grateful to have them by our side."

Dylan Doran Kennett comments: "Data infrastructure plays an ever increasingly crucial role in our technocratic society. We are proud to have advised our existing client Streambased on this significant capital raise to further its revolutionary work in data management, a deal which reflects the strengths of our Venture and Growth Capital practice and deep understanding of the technology sector."