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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
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.
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.”
