Herbert Smith Freehills advises Baymatob on A$4.25 million Series A capital raise

Herbert Smith Freehills’ private equity and venture capital team has advised Baymatob Pty Ltd on its A$4.25 million Series A capital raise led by Australian Unity. 

Baymatob is an Australian medical technology company that is a pioneer in women’s health and AI-guided monitoring for maternity and childbirth. Featured in their product line is a patented product able to identify individuals who are at higher risk of developing postpartum haemorrhage well before birth, that has the potential to save lives and reduce the occurrence of irreversibly debilitating outcomes. In such an important field, Baymatob is aiming to deploy this new capital to fund the development and growth of their products, and a future expansion into the US, where one of their products has been granted Breakthrough Device Designation but the U.S. Food and Drug Administration.

The Herbert Smith Freehills team was led by partner Clayton James, Co-Head of Venture Capital Claire Thompson, and solicitors Adam Ong and Mapa Madhawa, alongside significant support from partner Peter Dunne and senior associate Wendy Tian.  

Peter Dunne said, “It has been a pleasure assisting the Baymatob team with their first capital raise. One of the most exciting aspects of working with start-up and scale-up companies is seeing the amazing technology that they have developed, and Baymatob’s product suite is no exception. We are very eager to see Baymatob grow and expand off the back of this raise.”

CEO of Baymatob Tara Croft said, “The team at HSF was very supportive and took the time to inform and educate us in areas that were relatively new to us in our first dilutive capital raise. The quality and competence of the team was evident in the smooth process and excellent outcomes. We look forward to working with the HSF team as we progress through future important growth stages for our business.”

This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include:

• Who Gives a Crap on its A$41.5 million Series A capital raise and secondary sale
• SafetyCulture on its A$90 million Series C2 capital raise
• Mr Yum’s A$89 million Series A capital raise
• Dovetail on its A$52 million Series A capital raise
• Culture Amp on its A$120 million Series E capital raise and A$135 million Series F capital raise and secondary sale