Herbert Smith Freehills’ Venture Capital team has advised Infravision Holdings Pty Ltd on its A$36 million (US$23 million) Series A capital raise.
The round was led by American investor Energy Impact Partners, with support from notable international investors Equinor Ventures and Edison International.
This new capital will be employed to fund the continued rapid growth and expansion of the company into international markets including North America.
Infravision is an Australian technology company that specialises in aerial robotic systems for the transmission industry. Infravision’s TX System is the world's leading drone enabled power line stringing system. The company is also developing a proprietary drone installed Dynamic Line Rating system for intelligent grid monitoring and capacity uprating.
The Herbert Smith Freehills team was led by partner and Co-Head of Venture Capital Elizabeth Henderson, senior associate Adam Ong, and solicitor Emma McQuaid, working across the firm’s Sydney and Melbourne offices.
Adam Ong said, “It was a pleasure working with the Infravision team on its Series A capital raising. It is always amazing getting to assist a company that is market leader in its field that is on an impressive upward trajectory.”
Myra Beal, Infravision’s Chief Legal Officer, said, “It was great to work closely with HSF again on Infravision’s latest capital raise. The VC team has unrivalled industry experience and were proactive and collaborative throughout the transaction. This capital raise is an exciting milestone for Infravision and will enable us to further invest in our global expansion and goal to make Infravision’s technology the market standard for autonomous power line construction and enhanced grid monitoring and efficiency. We look forward to our continued work with HSF as Infravision grows and expands into new markets.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings in the emerging technology sector. Other recent examples include:
- Mr Yum on its A$89 million Series A capital raise
- Linktree on its US$110 million capital raise in 2022 at a valuation of US$1.3 billion.
- SafetyCulture on it’s A$60.5 million Series C1 and A$99 million Series C2 capital raises
- Dovetail Research on its US$63 Million Series A capital raise
- Who Gives A Crap on its A$41.5 Million Series A capital raise
- Carma on its US$52 million Series A capital raise