Herbert Smith Freehills' venture capital team has advised the lead investor on Vitruvian's US$15 million Series A capital raise.
The financing was led by a leading global US-based investment fund and included participation from Larsen Ventures, Ten13, and other investors.
Vitruvian was founded by Jon Gregory and has developed an in-home paradigm changing strength and personal training platform. The Vitruvian trainer is an integrated strength training product and platform that utilises artificial intelligence to adapt workouts to individual users in real-time. This new capital will support the global launch of Vitruvian's paradigm changing connected fitness device.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital Elizabeth Henderson and solicitor Vincent Schwartz, with support from partner and Co-Head of Venture Capital Clayton James, partner Tim McEwen, special counsel Amalia Stone, and solicitors Esther Adeyinka, Nayan Bhathela and Scott Murray-Walker.
Elizabeth Henderson said, "Congratulations to Vitruvian on the closing of its Series A financing round. It is great to see Australian technology and innovation gaining momentum on the world stage."
This deal is another example of Herbert Smith Freehills' market-leading work in Australian venture capital raisings. Other recent examples include advising:
- Mr Yum on its A$89 million Series A capital raise
- Linktree on its US$110 million capital raise in 2022 at a valuation of US$1.3 billion.
- OIF Venture's investments in Atelier, Inspace and Mastt
- King River Capital on its investment in Lexer's A$33.5 million Series B capital raise
- Grok Ventures on its investment in Brighte's A$100 million Series C capital raise
- Skip Capital's investment in Zero Co's Series Seed capital raise
