Australian venture funding, tracked

Have you heard about Cashero?

Profile of Cashero, a multi-currency savings and payments app in pre-launch, internally funded since 2018, with an equity funding round open to investors until 30 September 2021.

Indian buy now, pay later startup ZestMoney raises $50 million from Australia’s Zip

Indian BNPL platform ZestMoney announced a $50 million Series C investment from Australian firm Zip, which takes a minority stake; the round remains open to existing backers such as Goldman Sachs and Quona Capital.

Also Australian FinTech

DigitalX flags $1.64m M&A deal tied to its regtech platform for director trades

DigitalX has drawn attention to a $1.64 million merger-and-acquisition transaction connected to its software product that monitors director share trading, according to the headline alone.

Ignition Lane's Weekly Wrap: the rise of the technouveau riche

Weekly roundup covering Canva's huge raise and rich-list climb, a run of Australian startup funding rounds including SiteMinder and Mable, Domain's purchase of IDS, and Mailchimp's sale to Intuit.

Also Startup Daily·Australian FinTech·Cut Through Venture·SmartCompany·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Australian FinTech

Ventilator project lead wants to recreate ‘the model that changed the world’

Profile of Grey Innovation executive chair Jefferson Harcourt on its new venture capital fund, commercialising university research via GreyScan and Eco Detection, ventilator manufacturing, and gaps in Australian engineering skills and venture finance.

Daily Crunch: European regulators share more privacy concerns over Facebook “smart” glasses

TechCrunch's daily roundup leads on EU privacy concerns over Facebook's camera glasses and reports raises for Near Space Labs, Fivetran, Razorpay, Lightricks, Airwallex, Flippa and Cars24, plus Fivetran's purchase of HVR and three IPOs.

Also Crunchbase News

Airwallex raises $276 million, bringing it to a $5.5 billion valuation

Airwallex has raised a US$200 million Series E at a US$4 billion valuation, led by Lone Pine Capital, with its founders also unveiling a $200 million fund amid a wave of big local raises.

Dubber is ramping up its AI capabilities after acquiring Brisbane startup Notiv for $6.6 million

ASX-listed voice data company Dubber has bought Brisbane AI meeting-transcription startup Notiv for $6.6 million via its US parent Pinch Labs; Notiv had earlier raised $1.4 million in 2019.

Also ARN (ARNnet)·Startup Daily·Startup Daily

GetCapital receives $87.5 million ABSF mezzanine funding

Lender GetCapital has been approved for an $87.5 million mezzanine funding allocation from the Australian Business Securitisation Fund, with founder-CEO Jamie Osborn also thanking the Australian Office of Financial Management for its ongoing support.

Digital wealth management platform Tomorrow Super goes on the hunt for $5 million pre-IPO round

Challenger super fund startup Tomorrow Super, founded by ex-BT exec Wes Hall, is hunting $5 million pre-IPO after a recent $1.2m raise in which Crescent Wealth took an 8% stake.

Outdoor furniture maker opens new Bundaberg factory

Grillex, a parks infrastructure manufacturer, has opened a new Bundaberg headquarters and expects 25% growth over five years, supported by an earlier Queensland government Jobs and Regional Growth Fund grant.

Selling a company as easy as posting an eBay listing

A OneVentures insights page linking to an AFR piece about selling companies online, with a related item reporting Flippa raising eleven million dollars to connect buyers and sellers of internet businesses.

Also OneVentures portfolio·OneVentures portfolio·TechCrunch·TechCrunch·Startup Daily

Main Sequence adds Australian Ethical as strategic investor to tackle global challenges

Main Sequence announces Australian Ethical has joined its second fund as a strategic backer, pairing ethical capital with deep tech investing to address challenges across health, food, space and industrial productivity.

An important question to ask, “Why now?”

InterValley Ventures' blog post explains why the firm invested in Canberra quantum-encryption startup Quintessence Labs on September 17, pointing to quantum computing progress and growing national cybersecurity needs.

Also TechCrunch·Cut Through Venture·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily

IDT to receive $11.4m readying for mRNA manufacture

IDT Australia has secured an $11.44 million federal government payment to prepare its Melbourne sterile facility for potential mRNA vaccine production, with $7.5 million already received; vaccine candidate talks with Monash continue.

Alex Bank raises over $20 million in Series C funding

Digital lender Alex Bank closed a Series C round over $20 million at a valuation above $120 million, adding new backers including Washington H. Soul Pattinson, and appointed a chair and two directors.

Also SmartCompany·SmartCompany·Australian FinTech·Australian FinTech

ANSTO to build space heater for Moon probe

ANSTO's nandin Innovation Centre and startup Ouranos Systems are developing a radioisotope heating unit for Australian lunar missions, supported by an Australian Government Moon to Mars grant and NSW-funded scholarships.

Allay Therapeutics Completes Oversubscribed $60M Financing to Advance Ultra-Sustained Pain Platform

US-Singapore biotech Allay Therapeutics has closed a $60 million Series C round led by Arboretum Ventures, with several healthcare investors taking part, to advance its long-acting post-surgical pain candidate into late-stage trials.

Also Brandon Capital portfolio

Fintech Alex banks $20 million series C

Digital lender Alex closed a $20 million Series C valuing it above $120 million, backed by investors including Washington H. Soul Pattinson, and added three new directors to its board.

Also Startup Daily·Startup Daily·Startup Daily

Spotlight on Zara Lord - Founder of uPaged

Interview with Zara Lord, who founded the nurse-staffing platform uPaged. AfterWork recalls backing her in June 2021, and the piece notes an Australian Government grant for female founders.

TEN GLOBAL STARTUPS HAVE BEEN SELECTED FOR THE DECARBONIZE ACCELERATOR PROGRAM

Startupbootcamp announces ten startups joining its DC21 decarbonisation accelerator, where they will spend twelve weeks developing emission-cutting technology alongside corporate partners Mitsubishi Corporation and NYK Line.

Gaming startup Immutable scores $82 million for NFT trading tech

Blockchain gaming company Immutable has raised an $82 million Series B led by BITKRAFT Ventures to grow its NFT trading platform and games, with King River, AirTree and several other investors taking part.

Also Startup Daily

Investment Notes: Pluang US$55m Series B

Square Peg Capital led a US$55 million Series B in Indonesian wealth-tech company Pluang, with Go-Ventures, SIG and Openspace Ventures participating; the post explains the firm's investment rationale and Pluang's mission.

Also Square Peg Capital portfolio

Australia’s breakthrough solar tech has eye on rooftop and mega-project markets

Profile of SunDrive, the Sydney solar startup whose copper-based cells set a world efficiency record, covering its founders, backers including Grok Ventures, Blackbird and ARENA, and plans for rooftop then large-scale markets.

Female investors back female-founded Verve Super in latest $2.6 million raise

Women-focused superannuation fund Verve Super raised $2.6 million from first-time female and impact investors including Carol Schwartz, after failing to win over mission-blind venture capitalists.

Also Startup Daily

Online events platform Delegate Connect gets $10M AUD led by AirTree

Melbourne virtual and hybrid events platform Delegate Connect has raised A$10 million in seed funding led by AirTree Ventures, with Skip Capital, TEN13 and founders Alex Zaccaria and Andrew Barnes also taking part.

Also SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany

Calix begins to reap low carbon cement dividend

Calix has taken $24.5 million from Carbon Direct for a seven per cent stake in its LEILAC Group subsidiary, keeping 30 per cent of royalties from the low-emission cement and lime technology.

Startup Daily TV: Meet Immutable, the gaming startup making NFTs easier to trade

Sydney gaming startup Immutable raised $82 million in Series B funding co-led by BITKRAFT Ventures and King River Capital to expand its NFT trading platform; co-founder Robbie Ferguson interviewed on the show.

Also SmartCompany·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·SmartCompany·SmartCompany·SmartCompany

Bridging finance fintech TechLend hunts fresh funds

OIF's write-up of bridging-loan startup TechLend: a two-month-old lender fielding heavy loan demand, already holding $50 million in venture debt from a Silicon Valley fund, now chasing a larger facility plus equity.

Also Startup Daily·Australian FinTech·Techboard·Australian FinTech

BLAST OIF | Edition II

OIF Ventures' newsletter rounds up portfolio achievements: award wins and list placements for several companies, new product launches, and partnerships including Go1 with Employment Hero and Adobe, plus community masterclasses and webinars.

Two startups bag $100 million deals, as Aussie ecosystem hits a new level of maturity

SmartCompany reports Mable and SiteMinder have each landed nine-figure cheques, from General Atlantic and Fidelity International respectively, with a Right Click Capital partner tipping more big deals as the local ecosystem matures.

Also SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily

Mike Cannon-Brookes backs $41.5 million raise for social impact startup Who Gives a Crap

Melbourne social impact startup Who Gives A Crap has raised its first outside capital in nine years, led by Verlinvest, with Grok Ventures, other funds and several angel investors also taking part.

Also SmartCompany·Business News Australia·SmartCompany·privateequitywire.co.uk·Startup Daily·SmartCompany·Startup Daily·Startup Daily·SmartCompany·SmartCompany·onimpact.com.au

SunDrive Solar produces world-record solar PV cell

Sydney solar startup SunDrive claims a world efficiency record for a commercial-size silicon cell made with copper rather than silver, verified by a German institute; backers include Blackbird Ventures, ARENA and Mike Cannon-Brookes.

Fundsquire raises $75 million strategic investment from Fasanara Capital

Also Startup Daily·Australian FinTech

Automic Group partners with Five V Capital to accelerate Registry Industry Evolution

Registry and corporate services provider Automic Group has brought in Five V Capital as a new minority shareholder, with the capital injection earmarked to speed growth and modernise Australia's registry industry.

Also Startup Daily

Ignition Lane’s Weekly Wrap: Kiwi ‘funtech’, buying Maccas with BTC, Aussie exits, Twitter’s Facebook move

Weekly venture roundup covering Scalapay's giant series A, numerous Australian raises, acquisitions of Clipchamp, Paidy and CipherTrace, Houseparty's closure, crypto regulation developments, and Atlassian appointing a Cloudflare founder as director.

Also SmartCompany·Startup Daily

Melbourne ISV Box+Dice acquired by US firm

US property software firm MRI Software has bought Melbourne real estate CRM provider Box+Dice for an undisclosed price, planning to fold its tools into MRI's property management products; earlier MRI acquisitions are also noted.

European fintech Scalapay, founded by two Aussies, raises A$210m led by Tiger Global

Scalapay, a European buy-now-pay-later provider started by two Australians, has closed a Series A round worth A$210 million led by Tiger Global, and recently appointed two executives to run operations and expansion.

Also Startup Daily·SmartCompany·Startup Daily

Australia’s latest almost-unicorn: What is BNPL player Scalapay, and where did it come from?

Scalapay, an Australian-born BNPL startup focused on European fashion retail, raised a $210 million Series A led by Tiger Global, valuing it above $1 billion, following a $63 million seed round in January 2021.

Also Startup Daily·Australian FinTech·Startup Daily

Mable, a disability support tech platform backed by tennis champion Dylan Alcott, just raised $100 million

Online platform matching aged care and disability support workers with clients has secured $100 million in equity from General Atlantic, taking a minority stake, following an earlier $15 million round in 2019.

Also SmartCompany·SmartCompany·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily

Local space industry is now moving fast, and that's just as well

Interview with Main Sequence partner Martin Duursma on Australia's late but accelerating space sector, his firm's space investments, sovereign capability, and portfolio companies Quasar and Gilmour Space.

Monochrome raises A$2.4m to accelerate institutional digital asset adoption

Australian digital asset investment firm Monochrome has raised a A$2.4 million Series A from four investors including Wei Zhou, Charlie Lee, Samson Mow and Kain Warwick, valuing the company around A$20 million.

Also Startup Daily

Marking three years into the Shearwater journey

Ex-TCV general partner David Yuan launches Tidemark Capital

A former TCV general partner has started a new investment firm focused on growth-stage technology companies, with a debut fund of roughly $350m currently being marketed to backers.

Ellerston Capital backs Prospection in $45m raise

Prospection's $45 million Series B has Ellerston Capital's JAADE fund as cornerstone investor with $30 million, while existing shareholders Main Sequence Ventures and Horizons Ventures also backed the healthcare data company.

Also Startup Daily·prospection.com·pharmadispatch.com·Startup Daily·SmartCompany·Startup Daily·SmartCompany

ENERGYNEXT 2021, EN21, ACCELERATOR PROGRAM SELECTS EIGHT GROUNDBREAKING ENERGY STARTUPS FROM AROUND THE WORLD

Startupbootcamp's EnergyNext accelerator, run with EnergyAustralia, has picked eight energy startups worldwide for its 2021 cohort, spanning hydrogen recycling, solar safety, battery analytics and blockchain identity.

Agritech Targets $552B Dairy Industry | A$1.25M Already Raised

Camel milk agritech company Good Earth Dairy has passed A$1.25 million of a A$2 million crowdfunding raise ahead of a planned IPO, with a prior seed round and government grants also noted.

Federation Asset Management raising for second fund

Federation Asset Management announces it is launching its second fund, Federation Alternative Investments II (F2), aimed at institutional investors; no committed amount or target is stated.

Easy punt: global gambling giants backed a winner in JobKeeper

Crikey reports the global poker-machine maker IGT drew millions of dollars in JobKeeper wage subsidies during 2020, after earlier disclosures that luxury brands Louis Vuitton, Gucci and Bulgari also shared government support.

US VC Tiger Global just turned Scalapay, a BNPL from Wollongong, into a unicorn fintech with a $210 million series A

Buy-now-pay-later fintech Scalapay, founded by Australians and focused on Southern Europe, has raised a $210 million Series A led by Tiger Global, reaching unicorn valuation, with hiring plans ahead.

Also SmartCompany·Startup Daily·Australian FinTech·SmartCompany·SmartCompany·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily