There is a prevailing belief that the 2025-2026 Federal Budget was a non-event for the majority of us in the Australian tech sector. But besides being a missed opportunity to move the dial for Australian founders, are there any risks to watch out for in the Budget? Well yes, actually. In our view, one particular… 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 »
Sydney business journalism disruptor ausbiz has forged a strategic equity partnership with Western Australian tech veteran Marketech. The partnership, structured as an ‘equity for content and promotion’ deal, is similar to the equity agreements struck by ASX-listed Airtasker with Channel Four in the UK, and other media companies. Perth-based Marketech is the 20-year-old tech innovator… Read more »
The Australian startup ecosystem has all the ingredients for success: hardworking founders, world-class talent, and abundant capital. We have enormous amounts of potential, so how do we make sure we realise it? Most people think we are held back by our inherent tall-poppy syndrome. I think this has historically been true, but this is certainly… 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 »
* No, SFA is not an acronym of Startup Funding Announcements. As we said last year. Nothing. Nada. Zip. Again. You won’t find the word startup in the 2025 federal budget papers. Innovation is mentioned seven times in Budget Paper 1 and an eighth time in Paper No. 2 – referencing “the 2024–25 Budget measure… Read more »
Sydney venture capital fund EVP has reportedly contacted police and is seeking to recoup the investment it made in StrongRoom AI, less than a fortnight after it announced leading a $17 million round into the Melbourne software startup. The AFR reported that EVP had called in legal and forensic accounting experts and was warning investors… 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 »
Victorian climate tech startup Phnxx has raised $1.8 million in Seed funding to scale its modular energy system for the construction, mining and agriculture sectors. The round was supported by ASX-listed engineering company Synertec, ENGIE Factory, deep tech VC Pacific Channel, LaunchVic’s Hugh Victor McKay Fund and several angel investors. Synertec has partnered with the… Read more »
A defence technology startup that helps analyse visual surveillance systems from drones and other optical systems has raised $5 million in new funds from its existing backers. Main Sequence, Salus and Beaten Zone Venture Partners wrote fresh cheques following on from a $4.5 million Seed round in December 2023. Defence expert Simon Olsen cofounded Arkeus… Read more »
US-based former Australian transport management scaleup BetterFleet has raised US$15 million (A$23.7m) in a Series A. The round was led by US funds Aligned Climate Capital, Ecosystem Integrity Fund (EIF), and Remarkable Ventures Climate (RVC). BetterFleet was cofounded in Sydney by CEO Daniel and Nick Butlin as EVenergi in 2016. The software startup kicked off… Read more »
Within six months, I bootstrapped my startup to 1.4 million users. Two years later, our software is used by 16 million people worldwide Venture capitalists scoffed when I said I was self-funding (bootstrapping) my new artificial intelligence startup. Other industry veterans I spoke with said competing without a fair whack of VC dollars was a… Read more »
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