Practice leader Jill McKnight took the lead in the two capital raising transactions
LegalVision has helped to net $12m for local cleantech startup 5B and $8m for robotics agriculture tech startup Goterra through Series A capital raises.
NYSE-listed Fortune 500 global energy company The AES Corporation made a strategic investment to close 5B’s funding round. The funds will be applied to the development of 5B’s solar power technology, which accelerates the deployment of solar energy and boosts energy output.
The investment will also be used to speed up the international rollout of 5B’s ecosystem; this rollout includes the Australia-ASEAN Power Link—the largest solar project in the world.
“We’re incredibly excited to have closed our Series A and be partnering with AES as we embark on this next chapter and take our maverick solar solution to the world,” said Chris McGrath, 5B’s cofounder and CEO.
“It’s fantastic to see an Australian solar startup now on the global stage. The 5B team has a vision that will truly transform the future of cleantech,” said LegalVision practice group leader Jill McKnight. “It’s been a pleasure to work with them and we will be closely following their success.”
McKnight has specific expertise when it comes to working with startups. She was supported by senior lawyer Sarah Aldersley in working on this deal.
McGrath praised the firm’s team for their advice throughout the transaction.
“Navigating the complexities of the deal so professionally, confidently and graciously, especially during the rollercoaster 2020 has been for the world, is a testament to the expertise of the LegalVision team,” he said. “Jill and her team genuinely went above and beyond for us to close this round and we look forward to working with LegalVision on many more things to come.”
Goterra’s Series A capital raise
McKnight also led LegalVision’s team in advising Goterra on its raising effort, working with senior lawyer Madeleine Hunt.
Agricultural technology VC fund Tenacious Ventures and private investment company Grok Ventures led the funding round. Goterra will use the capital raised to manufacture technology and construct a commercial factory in Canberra.
“Closing this round means we are well on our way to change the course of food waste management in Australia and beyond,” Goterra founder Olympia Yarger said. “Jill and the team at LegalVision have done an incredible job helping us close this round with favourable terms.”
“Goterra is the perfect example of a home-grown agtech startup that is innovative and forward-thinking. It is always a pleasure to work with Olympia and the team and we enjoyed helping them get this deal over the line,” McKnight said.
Last year, LegalVision also assisted Goterra on a $1.2m seed round.