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Capital raising for Aus-headquartered tech company completed
One firm has advised technology company Seeing Machines Limited on its multimillion-dollar capital raising.
Emma Musgrave
Firm: DLA Piper (Seeing Machines Limited)
Value: Approximately $25.7 million
Area: Finance
Key players: The DLA Piper team was led by partner Mark Burger (pictured), with assistance from senior associate Dylan Burke.
Deal significance: The fundraising involved the conditional placing of new ordinary shares with institutional investors by finnCap Ltd and an opportunity to certain existing shareholders to raise up to a further £2 million (approximately AU$3.4 million) under an overseas offer and Australian offer.
Headquartered in Australia, with operations in North America, Europe, Latin America, the Middle East and the Asia-Pacific region, Seeing Machines is a leader in intelligent face and eye tracking technology.
Its driver-operator safety monitoring and intervention sensing technology is used worldwide across the automotive, mining, transport and aviation industries.
The tech company’s customers and partners include Caterpillar, Electro-Motive Diesel, Progress Rail, Boeing, Takata, Semco and EyeTracking Inc.
“We are delighted to advise our client Seeing Machines on this latest capital raising, as they continue the ongoing commercialisation of their technology across target markets,” DLA Piper partner Mark Burger said.
“The fundraising will support the company's growing FOVIO automotive business and their multi-sector transportation market strategy.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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