Herbert Smith Freehills’ Venture Capital team has advised Rosemary Health on its Series Seed-2 capital raise.
Rosemary Health is a telehealth platform that facilitates electronic prescriptions and prescription deliveries to Australian consumers. This new capital will be employed to accelerate the growth and market penetration of its range of asynchronous telehealth clinics.
The round was led by existing investor and early stage VC fund Artesian Venture Partners, with investors in the round including Singaporean VC fund Vulpes Investment Management, Australian VC fund Spring Capital and US VC fund Breyer Capital.
The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne and solicitor Myra Beal.
Myra Beal said, “Rosemary Health is delivering a much needed service to Australian consumers and shows that Australia is a market leader in telehealth and biotechnology companies. It was great to work with Romain and the Rosemary team on this funding round and to continue our longstanding partnership with the Company.”
Rosemary Health's Founder and CEO, Romain Bonjean, said, “We were very impressed with Myra and Peter’s work and advice, they allowed us to close fast and made it a simple transaction for all involved.”
This capital raise continues Herbert Smith Freehills’ partnership with Rosemary Health, with the firm having previously acted on the company’s Series Seed capital raise in October 2020, convertible note capital raise in May 2019 as well as their PoPs healthcare acquisition in early 2020.
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:
- Linktree on its US$45 million Series B capital raise
- Kasada on its A$15 million Series B capital raise.