DLA Piper has advised one of Australia's most exciting high growth companies, industrial IoT machine monitoring company MOVUS, on its Series A Venture Capital Funding Round which completed on 19 March.

Blackbird Ventures, Telstra Ventures and Skip Capital all invested in the round, with the funds to be used by MOVUS to support its next phase of growth and development.

MOVUS’s key platform is FitMachine ®, a sensor, cloud and machine learning and detection analytics solution which monitors equipment and machinery on a 24/7 basis. FitMachine transforms ordinary industrial equipment into ‘smarter machines’ by improving the efficiency, life and sustainability of industrial assets. The platform can manage hundreds of assets at any time via a central dashboard, allowing customers to focus their attention as needed.

 The DLA Piper team was led by Corporate partner Lyndon Masters with special counsel Kurt Tiam, foreign legal associate Bradley Heath and solicitor Stephanie Glover.

Lyndon Masters said: "We are delighted to have advised MOVUS on this important Series A funding. As a Brisbane-grown company this is a great outcome for the Queensland tech start-up space as a whole and MOVUS now has the funding to take its platform to major markets around the world."

This latest transaction adds to an extensive list of Venture Capital deals DLA Piper has advised on over the past 12 months, including advising artificial intelligence start-up Hyper Anna on an AU$16 million series A funding round led by Sequoia China (with Reinventure, Airtree Ventures and Insurance Australia Group also investing in the round) and fundraising rounds for Data Republic and Medi-Pass.