International law firm Taylor Wessing has advised new client ROLI, a multi-award-winning music technology company that is currently developing new musical devices, on its $27m Series B round financing led by leading US-based venture capital firm, Foundry Group, supported by other new investors Business Growth Fund Ventures and Founders Fund.

Existing investors including Balderton Capital, FirstMark Capital, Horizons Ventures, Index Ventures and Universal Music Group also participated in the round.

ROLI’s Seaboard RISE instrument has won the CES Best of Innovation Award and FutureMusic’s Product of the Year.

The investment will support the company’s ambitious growth plans, as it enters new markets and develops new music-making products.

Roland Lamb, founder and CEO at ROLI, said: “Angus Miln provided superlative counsel on this complex UK-US deal, demonstrating the unusually commercially-savvy legal approach that has established him as one the UK’s leading venture lawyers. He was flawlessly supported by the TW team for a great result on a short timeline.”

Angus Miln, Partner in the Corporate Technology group at Taylor Wessing, said: “ROLI is an exciting company that is getting great traction and recognition in the market. The company did a great job closing this round, raising funds from seven leading venture funds and some great strategic investors across the US, the UK and Hong Kong.”

The Taylor Wessing team was led by partner Angus Miln, supported by associates Simon Leslie and Jemilla Olufeko.