Biztech Lawyers starts the year with $5.3M capital raise for Black AI

Biztech Lawyers is starting the new year strong assisting deep tech startup Black.ai with the closing of a $5.3M cap raise.

Founded in 2016 and based in Melbourne, Black.ai works to enable automation in complex environments through artificial intelligence. It builds advanced systems that use computer vision, high performance data organisation and sophisticated artificial intelligence to generate meaningful insights about how humans interact with each other and their environment. 

Biztech Lawyers Managing Director (APAC) Anthony Bekker and Senior Lawyer Courtney Dick represented Black.ai and worked closely with founders on investor negotiations and funding documentation. 

Black.ai closed the round with over-subscribed taking AUD$5.3 million from the likes of lead investor Jelix Ventures, follow on investment from existing investors including Right Click Capital, Pan Group, as well as a hand-picked selection of new local and international AI-focused investors.   The funds will allow the firm’s cofounders, Keaton Okkonen, Karthik Rajgopal and Sebastien Collier, who originally met at a hackathon, to take the lead in rapidly commercialising their AI technology. 

“The Biztech team understood our position coming into the round and helped to manage both our new investors’ and existing investors’ expectations and requirements. They worked closely with us, and the fantastic team at Jelix, to get the deal done. With their support and partnership, the cap raise was quite a smooth process’’ says CEO Keaton Okkonen on behalf of Black.ai.

Bekker from Biztech said: “We were thrilled to work with Keaton, Karthik and Sebastien on their raise. The injection of new capital only means exponential growth for the company, and we’re looking forward to helping them with their plans for rapid commercialisation of the technology and future rounds. With this partnership, it’s only onwards and upwards for everyone involved.”

This raise will help advance Black.ai’s environment automation product as it is currently used in retail, health and heavy industry. Biztech is excited to see the tech company in major supermarkets around Australia, and with our international team supporting them, a global expansion is just around the corner.

Biztech expects to assist in more deals in the tech space throughout the rest of the year. We are known for helping world-class Australian tech businesses realise global potential. We bring to the table specialised knowledge that comes from servicing hundreds of entrepreneurial and startup businesses in the technology arena over the last three years.

Media Contact

Anthony Bekker

+61 2 9043 1376

marketing@biztechlawyers.com

About Biztech Lawyers

Biztech Lawyers is known for helping world-class Australian tech businesses realise their global potential. We bring to the table specialised knowledge that comes from servicing hundreds of entrepreneurial and startup businesses in the technology arena over the last three years.

We offer full-service transactional support, providing founders, start-ups and technology businesses with all the benefits of an in-house counsel on an as-needed basis. We have a proven track record as a leading technology law firm with offices in Australia and the United States.