DLA Piper has advised Aviva Ventures, a new venture capital business launched earlier this month, on its part in the £2 million seed investment of Cocoon Alarm Limited - a technology company which provides internet enabled home security from one device without the need for additional sensors.

Aviva Ventures is a wholly owned venture capital business of the insurer Aviva which invests in a range of digital and new technology businesses.  It provides early stage investment to entrepreneurs with high growth technology businesses. Based in Hoxton Square, Aviva Ventures will look to commit approximately £20 million per year over the next five years in digital and technology companies operating in the four key areas of: 'the internet of things', including connected homes and cars; data and analytics; innovative customer experiences; and distribution, for example new 'sharing economy' platforms.  

Cocoon is a new business which has created a next generation home security device. Internet and smart phone enabled, Cocoon alerts the homeowner to movement and sound within the house, using 'subsound' technology. The company will use the funding to expand its engineering team, grow its marketing plan and ensure it has sufficient capital to launch successfully in the first half of 2016. 

The team was led by partner Luca Gori, and assisted by associate Dylan Kennett (both Corporate, London). Intellectual Property and Technology support was provided by partner Claire Bennett and senior associate Claire Sng (both London).

"We are delighted to have advised Aviva Ventures on their first investment into the new technology start-up sector," explained Luca Gori, the lead partner on DLA Piper's Corporate team. "Aviva Ventures is part of Aviva's digital strategy and, through investments made, will assist Aviva in identifying insurance services and products which make insurance easier for customers."

Luca Gori and his DLA Piper team advise clients on a broad range of corporate transactions, ranging from, corporate venturing, venture capital, private equity and institutional investing. Luca's significant experience includes private equity acquisitions and disposals both the UK and cross border, pre-IPO investment and venture capital investment and strategic investors in fields ranging from clean tech, oil and gas and high tech companies.