Baraja advised on $40m funding round
LegalVision has advised the maker of LiDAR autonomous vehicles on its $40 million funding round.
Firm: LegalVision (Baraja).
Deal: Baraja has completed its latest funding round. The round was led by Blackbird Ventures, with Main Sequence Ventures also returning for this round. A number of new investors also joined, including Regal Funds Management, InterValley Ventures and industry superannuation fund HESTA, a statement from LegalVision confirmed.
Value: $40 million.
Key players: The legal team advising Baraja was led by practice leader Jill McKnight, who was assisted by lawyer Sophie Mao.
Deal significance: Baraja is a Sydney-based company that develops innovative technology for navigation in self-driving vehicles by rendering precise images of their surroundings.
According to LegalVision’s statement, Baraja will use the funds from this funding round for hiring and to accelerate the development of its LiDAR technology. So far, the company has raised $90 million since it was founded in 2015.
The company is also now deploying its technology to customers in the mining industry, including Japan’s Hitachi Construction Machinery – which also invested in this round.
“Like so many fantastic Australian startup success stories, Baraja started in a garage,” said practice leader Ms McKnight.
“Today, the company is attracting the attention of many global car manufacturers and construction companies. Having joined their journey with their angel and seed rounds, we were delighted to work with Federico and Cibby again on closing this funding round.”