Herbert Smith Freehills’ private equity and venture capital team has advised on a Series A capital raise for Roborigger — an Australian company whose wireless load controlling system allows crane operators to remotely control and release their loads without workers having to be in the vicinity of the loads or the lifting equipment. This improves safety and efficiency in crane lifting operations. Roborigger was the winner of three WA Innovator of the Year awards in 2019.
Blackbird Ventures led the investment.
The Herbert Smith Freehills team was led by Partner and Head of Venture Capital Australia, Peter Dunne, and Consultant, Elizabeth Henderson. Peter Dunne said, “Roborigger is a great example of the importance of embracing innovation and technology in established industries, and the role of Australian companies in driving modernisation in this area. We have enjoyed working with Roborigger founder, Derick Markwell, and being part of his company’s journey.”
Roborigger’s founder, inventor, and Managing Director, Derick Markwell, said, “We believe that this investment signals the industry’s confidence in Roborigger to not only to revolutionize safety, but also in the technology’s massive potential to collect data on the crane operations and the loads that are lifted by the crane. We worked really well with the Herbert Smith Freehills team as they understood the needs of all parties and provided sensible advice that allowed the documentation and negotiations to be completed with a minimum of fuss.”
Roborigger will use this funding to build its capability for international growth as it continues to receive interests from top global companies in construction, oil and gas, renewable energy, port operations and mining.
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital. Other recent examples include:
- Kasada on its Series A capital raise;
- Elenium Automation on its Series A capital raise;
- Deputy Group on its $111 million Series B capital raise;
- Nura on its $15 million Series A capital raise;
- Gilmour Space Technologies on its A$19 million Series B capital raise;
- Culture Amp on its US$54 million Series D capital raise;
- Expert360 on its A$13 million Series B capital raise; and
- URBNSURF on its $28 million capital raise.