Herbert Smith Freehills Kramer advises HEO on its US$25million Series B capital raise

Herbert Smith Freehills Kramer’s (HSF Kramer) venture & growth capital team has advised HEO on its US$25 million Series B capital raise. The round was led by Beaten Zone Venture Partners, with participation from Australia’s National Reconstruction Fund, DCode Capital, Wunala Capital and existing investors Airtree and Salus Ventures.

The new capital will be deployed to accelerate HEO’s expansion into geostationary orbit.

HEO is an Australian company whose ambition is to make imagery of any object in the solar system available on demand. It operates the world’s largest commercial Non-Earth Imaging network with access to more than 50 sensors in orbit.

The HSF Kramer team was led by partner and Head of Venture and Growth Capital Australia, Elizabeth Henderson, senior associate, Roy Carbone, and solicitors, James Webb and Belinda Reilly.

Elizabeth Henderson, HSF Kramer partner, said, “We were delighted to advise HEO on its Series B raise and to work with CEO and Co-Founder William Crowe and his excellent team since its first Series Seed raise in 2021 and to see it grow and take on the world stage. Congratulations to the company and its investors on this achievement.”

This deal is another example of HSF Kramer’s market-leading work in venture and growth capital raisings. Other recent examples include:

• Infravision Holdings on its A$140 million Series B funding round
• PlasmaLeap Technologies on its A$30 million Series A capital raise
• Kasada on its US$20 million Series E funding round
• Constantinople on its Series Seed through Series B funding rounds
• Hapana on its funding rounds led by OIF Ventures and Microequities