A construction site safety management startup has raised $4 million as it looks to expand internationally. 1Breadcrumb is a worksite and process management software platform, initially focusing on construction, with ambitions to spread to other worksites to improve safety and productivity. Nearly two-thirds of construction sites still use paper-based workflows. The company plays in a… Read more »
Reusable pallet wrap startup Bearhug has banked $325,000 in a Angel round to reduce plastic waste. The Sydney startup was founded in January 2023 by Tom Field and a uni mate, Max Higgins, and has already prevented more than 4 tonnes of plastic wrap from ending up in landfill. Unlike other startups that have developed… Read more »
A renewable energy company installing home solar and batteries has raised $1 million in pre-Series A bridge funding round. The cofounder of rideshare car subscription service Splend, Alan Hunter, launched National Renewable Network (NRN) in 2021. Last Christmas NRN banked a $3.5 million raise alongside a $10 million funding facility from Catalytic Impact Capital. Investible… Read more »
The Governor of Victoria’s annual startup awards have recognised the state’s best founders an others, with satellite mapping firm Digital Agriculture Services (DAS) named Startup of the Year. Founded in 2017 in partnership with national science agency CSIRO, DAS set out to give farmers “one click” insights on productivity and disaster risk assessments, backed by… Read more »
Food and agriculture advisory and venture firm Beanstalk AgTech has launched a venture program to support researchers and entrepreneurs build new agtech products and services for farmers. The $10 million project is working towards building the world’s first venture studio for drought resilience, supported by the federal government’s Future Drought Fund. Expressions of interest for … Read more »
While ASX-listed Life360 has been a godsend to parents keen to keep an eye on the whereabouts of their children without having to stalk their TikTok accounts, a disturbing trend around GPS tracking devices has emerged in analysis of who’s buying them by the NSW Crime Commission. A large number of criminals and domestic violence… Read more »
A Canberra plastics recycling startup has raised $100 million in a Series A+ as it looks to take its technology to Asia. Samsara Eco, a spin-out from Australian National University, launched in late 2021 as a partnership between the ANU and CSIRO-backed Main Sequence Ventures. It set out to address the fact that less than… Read more »
Venture capital funding for NSW startups began to decline in the first quarter of 2024 after swallowing two-thirds of all Australian investment in 2023, according to new data from funding analytics firm Techboard. Startup investment in the first quarter of 2024 had slowed with $761 million invested across 82 deals recorded over the first three… Read more »
ESG credentials startup Klean has raised $725,000 in a pre-Seed round led by Prtnr Ventures, the new VC founded by Wayne Gerard, a former Queensland chief entrepreneur. Klean was founded in late 2022 by Shan Vahora to address the concerns of the 70% of Millennial and Gen Z consumers who say they care about the… Read more »
The federal and Queensland governments have officially signed the near-$1 billion contract with US firm PsiQuantum, as newly released documents shed some light on the process leading up to the major deal. It was announced earlier this year that the federal and Queensland governments would be inking a $940 million deal with PsiQuantum for the American firm… Read more »
Dragonfly Thinking, a startup spun out of Australian National University (ANU) using AI to make it easier to think about difficult business and policy problems in an inclusive and intuitive way, has won the inaugural AI Sprint by the National AI Centre. In a sign of how vibrant the nation’s startup sector is when it… Read more »
First Australians Capital (FAC) has garnered $20 million in commitments for the first close of its Catalytic Impact Funds. Managing Partner Brian Wyborn said said the investors included long-standing cornerstone supporter Paul Ramsay Foundation, an anonymous Melbourne-based trust, and the Cages Foundation. “We’re thrilled to announce the first close of this fund, bringing together values-aligned… Read more »
Telstra’s appetite for venture capital (VC) investing is waning, and the telecommunications giant is looking to sell out of the $1.35 billion fund that no longer bears its name. Sydney and US-based Telstra Ventures has changed its name to Titanium Ventures, having been founded in 2011 and spun out of Telstra in 2018. Announcing the… Read more »
Sydney quantum startup Diraq has topped up its Series A2 top up with another US$7 million (A$10.5m) for its Series A-2. The fresh funds come just four months after Diraq bolstered its Series A in February with an extra A$23 million. That first tranche of the A2 follows US$20 million in a Series A in… Read more »
Document analysis firm Affinda has banked $10 million in a raise that has doubled its valuation in just 18 months as it ramps up its artificial intelligence capabilities. Affinda bootstrapped for its first decade before raising $12.9 million in 2022 at a $60m pre-money valuation. The fresh cash landed from the same investors at twice… Read more »
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