A six-year-old retail products price comparison tool developed by one of iSelect’s cofounders has raised $7.5 million in a deal that give it a $37.5m post-money valuation. The round for Zyft was led by PSC Insurance founder Paul Dwyer, with support from angel investors. Dwyer’s formerly ASX-listed insurance broker was acquired by UK rival Ardonagh… Read more »
Fintech WeMoney has exceeded plans announced less than 12 months ago to raise $10 million, banking $12m in its latest Series A round. Ironically for a startup that bills itself as a “financial wellness platform” to help people reduce their debts, the round was led by Perth online casino entrepreneur Laurence Escalante via his family… Read more »
An AI startup that takes corporate consultancy into the digital age has raised $1 million in pre-Seed funding. The round for NSW startup InsightWise was led by California VC Aliavia Ventures and Ari Klinger’s Sydney family office, No Brand Holdings, with support from Victoria Denholm’s Wollemi Capital Group, angel syndicate FB10x and other angels here and… Read more »
Victorian solar and thermal storage scaleup RayGen has finally completed its Series D raise after 12 months, tapping out with $127 million in total. The total comes 12 months after the Series D kicked off with a $51 million announcement – $20m from Breakthrough Victoria and a $31m follow-on and lead investment from NYSE-listed SLB.… Read more »
Student-founded and focused NextGen Ventures has secured $1.5 million in commitments as it looks to raise $2.5 million VC fund, with Blackbird founding partners Niki Scevak and Rick Baker among those chipping in. The fund is the brainchild of Monash University alumni Mitchell Hughes, 23, and former University of Melbourne biomedicine student Jerry X’Lingson, 22,… Read more »
Woolworths is having a bet each way after selling chips, soft drinks and grog to its customer, investing in a Western Australian telehealth startup’s $6 million Series A. The round for Hola Health follows a $4.5 million pre-Series A 12 months ago, that marked a return to VC investing for Alan Jones and Emily Rich… Read more »
An energy grid management platform for the renewables era has raised $7.5 million in a Series A with Australian cricket captain Pat Cummins among its investors. The round for software platform Gridsight was led by Airtree Ventures, with support from Austin-based Energy Transition Ventures, Singapore-based Aera VC, and the fast bowling superstar. The startup, which… Read more »
A Sydney startup tackling visual merchandising for retailer has raised $6 million (US$3.75m) in a second Seed round as it looks to ramp up its presence across the Pacific amid rapid growth in the US market. US VCs Coreline and Veridical Ventures led the round for Flagship, with support from Tidal Ventures, and Macdoch Ventures, for… Read more »
An agtech startup from La Trobe University has banked $1.7 million to address food security in the latest investment from Breakthrough Victoria’s University Innovation Program. Gaia Project Australia (GPA) was founded in 2020 by engineer Nadun Hennayaka. He’s developed a patented method for leafy green vegetable growers to increase yields by up to 40%, without… Read more »
The Labor government’s flagship National Reconstruction Fund is deploying 0.1% of its $15 billion war chest to fund a $20 million raise for 20-year-old Canberra cybersecurity firm QuintessenceLabs. The $15 million from the independent NRF comes as the government moves into caretaker mode ahead of a federal election on May 3. The National Reconstruction Fund… Read more »
A high-tech spinout from Swinburne University of Technology has raised $1 million to produce aerospace materials made from recycled industrial feedstocks. The raise for EntroMat, was backed by the state government’s VC fund, Breakthrough Victoria, and Swinburne University of Technology, which kicked in $500,000 each as part of Breakthrough Victoria’s University Innovation Program (UIP),. The… Read more »
A diamond-on-silicon quantum sensing startup cofounded by two University of Sydney professors has raised $750,000 in pre-Seed funding. The raise for DeteQt was backed by deep tech CSIRO-backed Main Sequence Ventures and US deep tech investor ATP Fund. DeteQt was founded by Adjunct Professor Jim Rabeau and Professor Omid Kavehei from the University of Sydney Nano… Read more »
Sydney online used car marketplace Carma has borrowed $30 million in a convertible note as it contemplates the possibility of an IPO. The funding round was led by ASX-listed Regal Funds Management and existing investor Tiger Global, with support from General Catalyst, Australian private equity manager Five V. Regal likes to invest in companies as… Read more »
PsiQuantum, the US quantum computing startup backed by $940 million in Australian and Queensland government funding, is reportedly looking to raise at least US$750 million (A$1.19 billion). Reuters reports that the raise is underway at a US$6 billion (A$9.5bn) pre-money valuation, according to sources, with US investor BlackRock leading the fundraising effort The California startup founded… Read more »
A quantum startup cofounded by three former PhD students just nine months ago has raised $2 million in a pre-Seed round to develop faster and cheaper fault-tolerant architectures for quantum computing. The raise for Iceberg Quantum was led by Blackbird, supported by UK-based LocalGlobe. CEO Dr Felix Thomsen cofounded the Sydney startup with Larry Cohen,… Read more »
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