In a milestone for the growing robotics and aged care industries, we are proud to have advised Andromeda Robotics on the Australian aspects of its AU$23 million Series A capital raise, led by Forerunner Ventures.
This significant round was led by renowned venture capital firm Forerunner Ventures and positions Andromeda for accelerated global growth.
Co-founded by Grace Brown and Yan Chen, Andromeda Robotics manufactures companion robots designed to enhance the aged care sector. These robots assist in creating meaningful social engagement by having conversations, leading group activities, and forging connections in multiple languages – offering much-needed support to aged care residents and facilities.
The Series A capital raise signifies more than just funding – it marks a transformative step for Andromeda. The investment will enable the company to scale its manufacturing footprint and establish a strong presence in the United States, providing a platform for the company to bring its vision of transforming aged care to a global audience.
Hamilton Locke worked closely with US law firm Mintz, represented by Scott Dunberg, William Morrow, and Chris Rosene, to facilitate the flip-up of Andromeda to a new US holding company and their capital raise.
Commenting on the matter, Cristín McCoy, Partner at Hamilton Locke, said: “It has been an absolute privilege to support Grace and the Andromeda team on this pivotal milestone, following on from their seed round last year. Their work is truly inspiring, and we’re proud to play a role in helping them drive innovation within aged care. This capital raise is a launchpad for their next phase of growth, and we’re excited to see what’s ahead for them.”
The transaction was led by Partners Cristín McCoy and Seema Sandhu, with support from Lawyers Zane O’Neill, alongside Crystal Xu and Michael Kallidis, who assisted with tax matters.
