Quantum Brilliance, Andrew Horsley, Marcus Doherty, Mark Luo.
Funding

Synthetic diamond creator Quantum Brilliance shines on with $23 million from National Reconstruction Fund & Breakthrough Victoria

- December 10, 2024 2 MIN READ

The federal government’s $15 billion National Reconstruction Fund has made its second investment, taking a $13 million equity stake in Canberra startup Quantum Brilliance. It follows $40 million for a mining tech manufacturer  announced last month. The National Reconstruction Fund Corporation (NRFC) funding is for QB to build Australia’s first quantum diamond foundry for its… Read more »

Funding

Health tech platform keeping the elderly safer at home bags $2 million

- December 6, 2024 2 MIN READ

An eight-year-old health tech startup helping elderly people live safely at home has scored $2 million in funding, led by Breakthrough Victoria. Umps Health is developing sensors and AI for proactive aged care at home. Breakthrough Victoria invested alongside Intervalley Ventures, with follow-on funding from existing investors Sprint Ventures, the Cerebral Palsy Alliance, the 5Point… Read more »

Victorian treasurer Tim Pallas
Funding

Breakthrough Victoria pivots with $7.5 million startup fellowship program to create 50 startups

- December 2, 2024 2 MIN READ

The Victorian government will invest $150,000 each to create 50 new startups and pay their salary for the year as part of an entrepreneurship program run by Breakthrough Victoria. Treasurer and economic growth minister Tim Pallas announced a $7.5 million million investment in the Breakthrough Victoria University Innovation Platform Fellowship Program, which will establish up… Read more »

Tin Alley ventures
Politics

Breakthrough Victoria posts $3 million loss

- November 4, 2024 3 MIN READ

The Victorian government’s controversial $2 billion venture capital fund, Breakthrough Victoria, posted a $3 million loss in its third year of operation. The funding body, which saw several directors depart in 2024, with CEO Grant Dooley also heading to the exit after just three years, copped a $360 million haircut in the Victorian budget earlier… Read more »

Michael Fuller
Funding

Additive manufacturing startup raises $11 million Series B

- October 24, 2024 2 MIN READ

Heat exchange manufacturing startup Conflux Technology has raised $11 million in a Series B. The round was led by Breakthrough Victoria, which chipped in $5 million, with participation from AM Ventures and Acorn Capital. The regional Victorian, based in Waurn Ponds, has developed next generation heat exchangers using addictive manufacturing (AM). They transfer thermal energy… Read more »

Black soldier fly larvae
Funding

Breakthrough Victoria pours $2.5 million into food waste rival to Goterra and Bardee

- October 17, 2024 2 MIN READ

Breakthrough Victoria, the $2 billion state government-backed venture fund, has invested $2.5 million into a Melbourne startup recycling food waste as animal feed and fertiliser. Viridian Renewable Technology, founded in 2016, lays claim to being Australia’s first large scale insect protein manufacturing plant. It has a commercial plant in Derrimut, in Melbourne’s western suburbs and will use… Read more »

Tin Alley ventures
People

Breakthrough Victoria boss Grant Dooley departs

- August 9, 2024 2 MIN READ

Breakthrough Victoria CEO Grant Dooley has pulled the pin, less than three years into the role, as the $2 billion tech innovation and commercialisation fund sustains continued political pressure and community criticism. In a statement announcing his departure, the fund said Dooley “intends to spend more time with his family before looking for a new… Read more »

jigspace
Funding

3D virtual reality startup pockets another $13 million

- July 12, 2024 2 MIN READ

A Melbourne startup described as the Canva of 3D presentations has raised another $13 million as it becomes part of $6000 Apple headset. The state government’s $2 billion venture fund, Breakthrough Victoria, led the round for Jigspace, tipping in $4.4 million, joined by existing investors including Rampersand, Investible, Vulpes and angel investor Hugh Bickerstaff. The… Read more »

Millibeam
Funding

Breakthrough Victoria tips $3 million into Sydney 5G chipset startup Millibeam to grow in Melbourne

- July 4, 2024 3 MIN READ

The march south by NSW startups seeking funding continues with Breakthrough Victoria ending the financial year with a $3 million investment in 5G semiconductor startup Millibeam to expand in Melbourne. It’s part of a $6 raise for the deep tech startup, which is building chipsets that are faster and cheaper for what’s known as “mmWave… Read more »

Funding

Breakthrough Victoria’s latest $15 million investment is bringing another US company to Melbourne

- June 19, 2024 2 MIN READ

Breakthrough Victoria, the state government’s $2 billion tech investment fund, is backing California-based Liquid Instruments with $15 million to bring the test equipment manufacturer to Melbourne. The 10-year-old firm, headquartered in San Diego, began life in Canberra, and builds cutting-edge test and measurement instruments used by engineers, scientists, and students, which can be reconfigured, saving… Read more »

Ludovic Labat
Funding

Melbourne Uni-backed medical manufacturing startup Neo-Bionica scores $5 million from Breakthrough Victoria

- May 16, 2024 2 MIN READ

Budget cuts and ongoing criticism of the state government-backed Breakthrough Victoria have not slowed its capital deployment, with $5 million invested in medtech manufacturing startup Neo-Bionica. Founded in 2021 as a joint initiative of the Bionics Institute and the University of Melbourne and based at St Vincent’s Hospital Melbourne, Neo-Bionica was developed to fill a… Read more »

World View balloon
Funding

Breakthrough Victoria invests $37 million to lure US near-space exploration platform World View to Melbourne

- May 3, 2024 2 MIN READ

State government-backed investment fund Breakthrough Victoria is backing US stratospheric exploration company World View with $37 million to entice it to Melbourne. The strategic investment will see World View establish its Indo-Pacific headquarters in the capital, as well as building an advanced manufacturing facility in Victoria, creating up to 200 jobs in engineering, mission control… Read more »

The tanneries of Fez, Morocco
Funding

Textiles dyeing climate tech startup Xefco raises $10.5 million Seed extension

- April 30, 2024 2 MIN READ

Sydney startup Xefco will ramp up its Victorian presence after raising $10.5 million in a Seed extension. The round was CSIRO-backed VC fund Main Sequence Ventures, with support from Virescent Ventures for the government-backed Clean Energy Finance Corporation, which chipped in $2.5 million, plus existing shareholders Investible and Voyagers Climate-Tech Fund in Xefco’s Seed investment round.… Read more »