Herbert Smith Freehills advises HEO Robotics on its $12 million Series A capital raising

Herbert Smith Freehills’ Venture Capital team has advised HEO Robotics on its A$12 million Series A capital raise.

The round was led by AirTree Ventures with participation from Salus Ventures and other investors. This new capital will be employed to fund the continued rapid growth and expansion of the company.

HEO Robotics is an Australian company that assists government, defence and commercial customers in Australia, USA, and UK to assess and maintain space assets and minimise damage through advanced monitoring, imaging and analytics.

The Herbert Smith Freehills team was led by partner Elizabeth Henderson, together with partner Toby Eggleston, senior associate Wendy Tian, and solicitors Esther Adeyinka, Vincent Greco Schwartz and Adam Ong.

Elizabeth Henderson said, “Congratulations to HEO Robotics on its Series A round. We have so much enjoyed working with HEO Robotics’ founders, Dr. Will Crowe and Dr. Hiranya Jayakody, and the rest of the team on this and prior raises. The backing from investors in this round speaks to both the company’s achievements to date and its incredible future potential. We look forward to seeing the company continue its trajectory, a great example of Australian innovation and talent making it on the global stage.”

This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. 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.
• Constantinople on its “mega” A$32 million Series Seed 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
• Sonder on its A$35 million Series B capital raise