Herbert Smith Freehills’ private equity and venture capital team has advised on a A$15 million Series A capital raise for Elenium Automation Pty Ltd – an Australian technology company that provides self-service and automation technologies for use in the aviation sector. The investor for the round is Acorn Capital.
The Herbert Smith Freehills team was led by Partner and Head of Venture Capital Australia, Peter Dunne and Solicitor Myra Beal.
Peter Dunne said: “It was great to work with Elenium and their advisors CIBUS on this transformative transaction. The company is generating significant momentum. We look forward to being part of that journey.”
Senior Advisor to Elenium Automation Stuart Giglia said: “This investment marks an exciting time for Elenium’s growth and development of its market leading technology. It was fantastic to work with Peter and Myra who were brilliant throughout the process.”
Elenium’s Co-founder and CEO, Aaron Hornlimann said: “This capital raising will definitely be transformational for Elenium. It allows us to continue to scale the business and ensure we have the capacity to secure the right talent to grow the business to achieve our ambitions. Part of this is ensuring we have deep relationships with ‘best of breed’ partners and Herbert Smith Freehills understands what we’re looking to achieve and their pragmatic approach was important in completing the investment in a timely manner."