Hall & Wilcox advises Breakthrough Victoria on its $5 million investment in FLAIM Systems

Hall & Wilcox has advised Breakthrough Victoria, the Victorian Government’s investment fund, on its recent $5 million investment in FLAIM Systems as part of FLAIM’s recent Series A capital raise.

FLAIM has developed a cutting-edge virtual reality training system for firefighters, combining immersive technology with real equipment for a safe, cost-effective, and realistic training experience. This recent funding is expected to accelerate FLAIM’s global expansion, ultimately improving the preparedness of the global firefighting community.

Breakthrough Victoria was established by the Victorian Government to drive innovation in Victoria.

Breakthrough Victoria’s $5 million investment was further supported by a rights issue and an employee placement, bringing the total raise to $6.7 million.

Hall & Wilcox advised Breakthrough Victoria on all legal aspects of the transaction, including due diligence, the negotiation of all transaction documents, and various intellectual property and employment matters.

Special Counsel James Bull led the deal team, which consisted of Senior Associate Jasmine Koh and Lawyer Aron Mazur. Partner James Deady advised on the intellectual property aspects of the deal.

James Bull said, ‘What Flaim has developed is the world’s first fully immersive virtual firefighting training system designed to make fighting fires safer. This is an important investment for Breakthrough Victoria and a fantastic addition to Breakthrough Victoria’s already impressive stable of investments.’

Hall & Wilcox is a leading independent law firm. We have more than 1000 people, including 120+ partners, working across eight offices. We build partnerships with and service corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia.