International law firm CMS has advised Orbital Witness, a UK-based LegalTech start-up, on its £3.3 million seed investment funding round. The investors included LocalGlobe, Outward VC, Seedcamp and JLL Spark Global Ventures.
Orbital Witness’ AI-powered platform is designed to automate legal risk profiling in real estate, providing an instant assessment of legal issues on land and property. The company’s vision is to become the ‘universal risk rating for land and property’, similar to an Experian checking system for the multi-trillion pound global real estate market. This is the second round of fundraising on which CMS has advised Orbital Witness. In February 2019, the firm acted on their successful £1.2 million seed investment fundraising.
John Finnemore, Corporate partner at CMS UK, comments: “We are pleased to have supported Orbital Witness on another successful round of fundraising, which completed despite the coronavirus pandemic and consequent UK-wide lockdown. This is a real testament to both the market interest in Orbital Witness’ innovative platform and CMS’s ability to deliver for our clients under challenging circumstances.”
Orbital Witness is a member of CMS equIP, the firm’s award-winning tech startup programme, which is designed to give scale-ups and entrepreneurs the tools they need to grow and succeed. Through the programme, CMS lawyers and specialists act as trusted advisors to equIP members, providing legal advice and support to help accelerate their growth potential. Since its inception, equIP has successfully assisted over 100 technology clients in completing over 60 individual rounds of fundraising.
Edmond Boulle, Co-Founder and CEO at Orbital Witness, adds: “The team at CMS did a fantastic job supporting us through another important fundraising milestone. They provided reliable, unwavering advice and made the process as straight forward and quick as possible given the unprecedented circumstances in which this deal was completed. The team’s experience in these deals really shows as it helps to fine-tune our focus on the points that really matter and understand what the ‘norm’ is. The equIP programme is a cost-effective way of accessing really high caliber advisors.”
The CMS team was led by John Finnemore and supported by Alice Frydl, an associate in the Corporate team.