Allens has advised connectivity startup Zetifi on its $12 million Series A capital raise, led by investors Telstra and GrainCorp and with participation from existing investors, including Cultiv8 Funds Management, Grain-Innovate and Artesian.
Zetifi – a client of the Allens Accelerate practice – is solving the problem of wi-fi coverage for farms and rural properties through its long-range connectivity solution. The new funding will allow Zetifi to scale up manufacturing to bring its solutions to the mass market, double its software and product teams, and explore expansion to the US market in the next 12-18 months.
'The support of the Allens team has been crucial throughout this process. We are looking forward to a busy year ahead as we continue helping the ag sector take advantage of digital technology and automation through connectivity,' said CEO of Zetifi, Dan Winson.
'We are very pleased to have had the opportunity to work with Zetifi on this important capital raising, which demonstrates the continuing opportunities for innovative companies to digitalise the agriculture sector,' said Senior Associate Madeleine Hunt.
Allens Accelerate is a legal practice dedicated to supporting the Australian startup community and providing expert legal advice to startups, investors, and corporates.
