ILS is proud to have supported Bot Auto, a pioneering company in autonomous vehicle (AV) technology based in Houston, in successfully completing its oversubscribed Pre-A funding round, raising $20 million. This funding represents a significant milestone in Bot Auto's mission to revolutionize autonomous trucking by enhancing safety and operational efficiency.
The funding round was led by prominent domestic and international investors, including Brightway Future Capital, Cherubic Ventures, EnvisionX Capital, First Star Ventures, Linear Capital, M31 Capital, Taihill Venture, Uphonest Capital, and Welight Capital. This capital infusion will accelerate Bot Auto’s technological advancements and further establish its position as a leader in the autonomous trucking sector.
The ILS Transaction Team played a pivotal role throughout Bot Auto’s Pre-A financing, offering comprehensive legal counsel and support:
Review and Negotiation of the Term Sheet: The team conducted a thorough review and negotiated the term sheet with co-lead investors to ensure the terms supported Bot Auto’s strategic goals and future growth.
Drafting Financing Documents: ILS drafted all essential legal documents required for the Pre-A financing, ensuring alignment with legal and commercial standards to safeguard Bot Auto’s interests.
Negotiation of Financing Documents: ILS skillfully negotiated the financing documents with co-lead investors, balancing the requirements of the investors with Bot Auto’s objectives.
Management of Signing and Closing: The team managed the entire signing and closing process, ensuring seamless interactions between Bot Auto, co-lead investors, and the investment syndicate.
Advising on Financing-Related Matters: ILS provided comprehensive advice on all aspects of the financing, including secondary transactions, ensuring that Bot Auto was fully informed and protected throughout the process.
Securities Filings: Following the completion of the financing, ILS will handle all necessary securities filings once investor funds are received, ensuring compliance with regulatory requirements.
Additionally, the ILS team was responsible for Bot Auto’s incorporation documents and managing corporate governance matters to ensure the company’s legal structure was optimized for growth. Through its comprehensive legal support, ILS has ensured that Bot Auto is well-positioned for continued success and expansion in the rapidly evolving autonomous trucking market.
ILS Transaction Team
Fiona Xu, Esq. is the Partner and Head of Transactions of ILS.
She has extensive experience supporting global and high-growth technology companies on compliance and business needs. Her practice focuses on regulatory compliance across different sectors, with a focus on sector-specific regulations for artificial intelligence (AI) and medical devices. She supports multinational corporations in establishing and maintaining U.S. operations, managing legal and compliance challenges in various areas such as Privacy, Export Control, and CFIUS issues.
Email: fiona.xu@consultils.com | Phone: 626-344-8949
Susan Shu, Esq. is an associate specializing in transaction and compliance.
She has years of experience advising multinational clients on various aspects of mergers and acquisitions, outbound and inbound investment matters, and general corporate matters. She has worked on establishing a VIE structure for an international investor to gain ownership of a Chinese internet company. She also has counseled international investors in private equity and venture capital transactions, where she was responsible for drafting due diligence reports and transaction documents.
Email: susan.shu@consultils.com | Phone: 626-344-8949
Aurora Shao is the Law Clerk at ILS.
She specializes in employment law, transactions, and corporate compliance at ILS. Her background includes advising startup clients, handling corporate matters in the biotech sector, and interning at law firms in Beijing with a focus on corporate compliance and transactions. Aurora is deeply committed to corporate law, aiming to leverage her experience in both China and the US to facilitate transborder transactions.
Email: aurora.shao@consultils.com | Phone: 626-344-8949
Disclaimer: The materials provided on this website are for general informational purposes only and do not, and are not intended to, constitute legal advice. You should not act or refrain from acting based on any information provided here. Please consult with your own legal counsel regarding your specific situation and legal questions.
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