Mishcon de Reya has advised London-based dual use technology startup MISTT on its £5 million pre-seed fundraising. The round was led by defence tech venture capital firm Expeditions, with participation from Seedcamp, the UK’s National Security Strategic Investment Fund (NSSIF), Watchkeeper, Overmatch and FJ Labs.
MISTT is developing a four-dimensional data platform to improve accuracy for autonomous systems and AI models that understand the physical world. Its technology combines sensor, customer, open-source and environmental data into a single picture of three-dimensional environments, incorporating time as a fourth dimension.
Founded by a team including CEO and Royal Marines veteran Dan Eaton, MISTT is initially focusing on defence customers, with ambitions to support wider commercial applications. The funding will support recruitment across its technical and business development teams as the company seeks to grow in the UK and expand into NATO and US markets.
Dan Eaton, CEO and co-founder of MISTT, commented: “Mishcon were exactly the legal partner we needed as a startup raising our first round. They took the time to talk us through each stage, explain what the terms meant for MISTT and make sure our interests came first. Having such an experienced and supportive team alongside us gave us confidence throughout the process.”
Toby McCrindle, Partner and Head of Defence & DeepTech at Mishcon de Reya: “MISTT is tackling a complex challenge: bringing together different sources of data to give autonomous systems a more accurate understanding of their environment. It has been a pleasure to support Dan and the team on this pre-seed fundraising, which will help them develop their technology and pursue their growth ambitions. The traction that MISTT has already demonstrated with the UK customer and industrial partners is deeply impressive, and we're thrilled to be supporting the team on this journey”.