Herbert Smith Freehills’ venture capital team has advised AirRobe on its Series Seed capital raise.
AirRobe is looking to make the fashion industry more sustainable by engaging big brands in the circular economy through its re-commerce marketplace platform. Hannon Comazzetto launched the company after being exposed to the huge amount of waste in the fashion industry when she consulted with big fashion houses.
This new capital will be employed to launch a new product that provides a way for fashion brands and online retailers to access the re-commerce retail market. The round was led by early stage venture capital fund Investible, with investors in the round including retail technology investor Paul Greenberg and San Francisco consumer business investor Brian Sugar.
The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne and solicitor Myra Beal.
Myra Beal said, “It’s great to be part of AirRobe’s journey and to have worked with the company on this exciting milestone. These funds will help AirRobe to grow and become a game changer for the growing sustainable clothing market. We have enjoyed working with Hannon through the capital raising process.”
AirRobe’s Founder and CEO, Hannon Comazzetto, said, “AirRobe benefited from the Herbert Smith Freehills team's industry expertise and commercial approach, which helped to streamline the transaction.”
This deal is another example of Herbert Smith Freehills’ market-leading work in the Australian technology sector and Australian venture capital. Other recent examples include:
- Kasada on its A$15 million Series B capital raise;
- Different Technologies on its A$7.1 million series A capital raise;
- Culture Amp on its A$120 million Series E capital raise; and
- Expert360 on its A$12 million Series C capital raise.