DLA Piper represented Beep, a provider of multi-passenger, electric, autonomous mobility solutions, in its US$20 million Series A financing from Intel Capital and Blue Lagoon Capital.
Beep utilizes a combination of machine learning, contextual traffic data and the company’s existing centralized command center data to provide vital oversight in managing high-risk scenarios for autonomous vehicles in complex geo-fenced environments. The funding will enable Beep to continue the expansion of its autonomous fleet deployments across North America and leverage its learnings to advance passenger mobility service for cities, business districts and campuses at scale.
“This financing will position Beep well for long-term success and enable our client to continue developing cutting-edge autonomous mobility technologies that improve safety and enhance quality of life,” said Eric Grossman, vice chair of DLA Piper’s Private Equity practice and the partner who led the firm's deal team. “We were pleased to utilize our extensive experience advising emerging tech companies to complete this round for Beep.”
In addition to Grossman, the DLA Piper team representing Beep included of counsel Matthew VanderGoot and associate Ryan Selis (all of Northern Virginia).
DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers in the US who provide strategic counsel to emerging companies in high-growth industries, including healthcare, insurance, biotech, manufacturing, communications, software and semiconductors. Over the last three years, DLA Piper has completed more than 2,100 financings totaling over US$31 billion.
DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.