SunDrive Solar raises $21m in Series A round

Solar technology start-up SunDrive Solar has been advised on its Series A round, which raised $21 million (including from Malcolm Turnbull), by NewLaw firm LegalVision.

Jerome Doraisamy • 27 October 2022 • NewLaw

SunDrive Solar raises $21m in Series A round

Firm: LegalVision (SunDrive Solar)

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Deal: SunDrive has been advised on its Series A funding round by LegalVision. Main Sequence Ventures and the Clean Energy Finance Corporation co-led the round, with former prime minister Malcolm Turnbull and Canva co-founder Cameron Adams joining them. Existing investors Blackbird Ventures and Grok Ventures also contributed to the raise.

Area: Corporate

Value: $21 million

Key players: The LegalVision team was led by practice leader Jill McKnight, with assistance from lawyer Miles Guggenheimer.

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Deal significance: Speaking about the raise, Ms McKnight said: “In addition to protecting the environment, SunDrive’s technology has huge potential to grow the local Australian solar industry. We’re delighted to help this innovative start-up continue on its journey to success.”

SunDrive co-founder and chief executive Vince Allen added: “Thanks to our successful capital raise, we can change the face of solar cell production in Australia, offering a much better-performing and cost-effective alternative. We are grateful to Jill and the LegalVision team for their guidance throughout this raise, and our previous capital raises, and [we] look forward to working with them again in the future.”

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Jerome Doraisamy

Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

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