Australian tech company raises $64m with DLA Piper’s guidance

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DLA Piper has helped a Canberra-headquartered computer-vision company raise £34.3m, or about $64m.

The global firm said that the London-listed company is continuing to see growth in emerging markets. Corporate partner Mark Burger, who headed the deal team with senior associate Dylan Burke, said that the proceeds of the capital raising will help Seeing Machines invest in its core technology and continue to design and develop current and next-generation products.

Seeing Machines operates in North American, European, and the Asia-Pacific regions. It is a leader in computer-vision technologies, which enable machines to see, understand, and assist people. DLA Piper said that the company’s driver-operator safety-monitoring and intervention system is used around the world in the automotive, mining, transport, and aviation industries.

The company conditionally raised gross proceeds of £27.5m from new shares issued to existing and new investors. It also raised a further £6.8m from qualifying participants in the UK, Ireland, and Isle of Man.

Seeing Machines is listed on the AIM market of the London Stock Exchange.

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