Australian venture funding, tracked

Laybuy shares to start trading on the ASX today

New Zealand BNPL firm Laybuy lists on the ASX, raising A$80 million via a primary issuance and a shareholder sell-down, valuing the company at A$246 million as it plans UK growth.

Blackbird is hiring an Operating Partner

Blackbird advertises an Operating Partner role to deepen relationships with late-stage portfolio companies and build operational programs, describing the role, requirements, benefits and the firm's mission.

Ignition Lane’s Weekly Wrap: Zoom boom, Redbubble hits unicorn, Rocket Lab takes off

Weekly roundup column covering Zoom's record quarter, Redbubble reaching unicorn valuation, founder share sell-downs, a new secondary fund launch, and funding rounds for mental health and e-commerce startups.

Also Startup Daily·Startup Daily·Startup Daily·Startup Daily·Women's Agenda

Australia’s largest virtual power plant ramps up in South Australia

ARENA announces $8.2 million in funding for Tesla to install solar and batteries at 3000 Housing SA properties in Adelaide, expanding South Australia's virtual power plant alongside state government and CEFC support.

Startups To Watch: CH4 Global, Mustard, Undock, LaunchNotes

Roundup profiling four startups and their seed raises: CH4 Global ($3M), Mustard ($1.7M), Undock ($1.6M) and LaunchNotes ($1.8M), naming investors and founders for each.

Fintech Douugh poised for ASX debut after $6m capital raising

Douugh closed a $6 million capital raising and is set to list on the ASX via a reverse takeover of Ziptel, with a US launch planned before Christmas.

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

Aussie-founded startup raises $4 million to help save the planet from gassy cows

Seaweed supplement maker CH4 Global has secured seed funding from government innovation bodies and private backers to expand cultivation and processing of asparagopsis, aimed at cutting methane emissions from cattle.

Also Crunchbase News·SmartCompany

Stockmarket high sparks capital raisings

Two manufacturers announced equity raisings: welding firm K-TIG secured $5.6 million via placement, while battery developer Magnis raised $7.65 million to advance proposed gigafactories in Townsville and New York.

Making User Researchers Feel like Superheroes with Dovetail

Podcast conversation with Dovetail's founders about their research software and bootstrapped growth, including why Blackbird's Nick Crocker chose to back the company.

Battery gigafactory hopeful Magnis Energy enters trading halt ahead of capital raise

ASX-listed battery maker Magnis entered a trading halt pending a planned capital raise, after a June raising and a Queensland government grant to its consortium for a Townsville gigafactory feasibility study; its CEO has departed.

Biomedical Translation Bridge Program grants $1m to develop a drug treatment for obesity-related health conditions

Cincera Therapeutics has received a million-dollar Biomedical Translation Bridge grant to advance its Des-1 inhibitor drug for obesity-related metabolic diseases. The Monash and UniSA spin-out previously secured venture funding from the Medical Research Commercialisation Fund.

Also Brandon Capital portfolio·cinceratx.com

How this founder bounced back from every startup’s “worst-case scenario” by focusing on revenue, not funding

A parenting content platform has banked fresh backing from its founding investor, who told its chief to chase revenue over fundraising; that push led to a three-year corporate deal and recurring revenue.

Startup earns $178,250 grant from AMGC to support local manufacture of dual-lens fishing camera

Fishing camera maker Siren Cameras received a $178,250 co-investment grant from the Advanced Manufacturing Growth Centre to help establish domestic production, with the overall project budgeted at $356,500.

Perennial launching second closed-ended fund

Perennial is preparing a second wholesale-investor fund with a $125 million goal, after its first vehicle delivered a 31.6% return; the article also names its portfolio managers.

Sydney startup Vow cooks up a storm with celeb chef Neil Perry, in a bid to take lab-grown meat mainstream

Cultured meat startup Vow teams with chef Neil Perry on a trial menu of lab-grown dishes. The Sydney company previously took pre-seed money from Blackbird and is preparing a seed round.

Plenti to list on the ASX after increasing IPO

Plenti, formerly RateSetter, enlarged its IPO to $55 million and will float on the ASX under ticker PLT from 23 September 2020, with Bell Potter and Wilsons as joint lead managers.

Also Australian FinTech·Australian FinTech·Australian FinTech

Startup West podcast ep41: Olivia Humphrey, Kanopy

Podcast conversation with Kanopy founder Olivia Humphrey about building the Perth library-streaming company, relocating it to the US, and its later sale to an American private equity buyer.

A Weekend At Yeppoon Reveals The Wonder Of Surf Lakes’ “5 WAVES” Technology

Profile of Surf Lakes' wave-pool prototype near Yeppoon, describing its plunger-driven 5 Waves technology, ongoing technical setbacks, investment history and agreements to build further pools abroad.

NSW companies awarded $731,000 in circular economy-related grants

Seven enterprises received grants totalling $731,000 under the NSW government's Circulate Program, run by the EPA, funding projects that recycle plastics, glass, textiles and surplus food.

Jarden, Ord Minnett prepare fintech Harmoney for IPO

Lender Harmoney has reportedly engaged two stockbroking firms to advise on funding choices, weighing a private raising against a sharemarket float, with a substantial raise anticipated to fuel growth in Australia.

Citadel Group acquires Aussie risk software vendor eQstats

Australian fintech SendGold announce they are live in India with UPI

SendGold has launched UPI payments in India with partner Rapyd, letting customers buy gold instantly. The Australian fintech previously raised $4 million and is currently raising a Series A.

Hydrogen potential for local gas networks in SA and Victoria

ARENA grants $1.28 million to Australian Gas Networks to establish a centre studying hydrogen blending in South Australian and Victorian gas pipelines, with extra support from state governments and energy companies.

Also @AuManufacturing·RenewEconomy·@AuManufacturing·RenewEconomy

The Pilbara looks to renewable hydrogen

ARENA grants Yara Pilbara Fertilisers $995,000 for a feasibility study into producing renewable hydrogen via electrolysis at its Pilbara ammonia facility, working with ENGIE.

Also RenewEconomy·@AuManufacturing

Growing Australian renewable energy startups

A government renewable energy agency announces a grant to back a clean energy accelerator's programs for startups, and notes that one company it previously supported has just closed a funding round.

Cointree in pole position to capitalise on growing interest in cryptocurrency

Melbourne crypto exchange Cointree announces a strategic investment by US data analytics firm Indicia Labs, whose founder will join its board, helping it target wealth management clients.

Australian biomedical imaging startup in $3.5 million Series A

Biotech startup Ferronova closed a $3.5 million Series A led by Stoic Venture Capital to commercialise iron nanoparticle technology for cancer diagnosis and treatment.

Also SmartCompany·Startup Daily·Startup Daily

A clean energy future for Alice Springs

The Australian Renewable Energy Agency announced a $2.17 million grant for the Alice Springs Future Grid Project, which will trial batteries, tariff reforms and grid planning to lift renewable penetration in the town's isolated network.

Plans for world-first solar power plant in western Victoria

Australia's renewable energy agency is putting $3 million towards RayGen's feasibility study for a proposed 4 MW dispatchable solar-and-storage plant near Mildura, adding to its earlier backing of the startup's technology.

Also ARENA·RenewEconomy·RenewEconomy·RenewEconomy

Aussie ISV Zetaris to go global after Ingram Micro investment

Zetaris, a Victorian analytics firm, received an investment and partnership from Ingram Micro after its Cloud Comet Competition, enabling global expansion, while Ingram Micro Australia appointed Trent Gomersall as cloud director.

After early-COVID layoffs, Hipcamp is buying competition, hiring

Hipcamp acquired Australian rival Youcamp to enter Australia, undisclosed terms, and is launching in Canada; its July 2019 backing and $127 million valuation are recalled.

Investible's Trevor Folsom joins UNSW Founders as Entrepreneur in Residence

Angel investor and Investible co-founder Trevor Folsom has joined UNSW Founders as Entrepreneur in Residence, mentoring early-stage founders and advising on validation, scaling and capital raising.

Defence manufacturing in Covid boost

The federal government unveiled a billion-dollar Covid-relief defence package covering infrastructure works and accelerated capability projects, and Canberra-based DATAPOD won a two-year, $20 million contract to supply portable containerised data systems to Defence.

Investment Notes: Swarm Farm Robotics

Tenacious Ventures' investment memo on SwarmFarm Robotics, the agricultural robotics startup it co-backed with a A$4.5 million round, covering the SwarmBot platform, founders Andrew and Jocie Bate, and traction on Australian farms.

Also AgFunderNews·Cut Through Venture

Tesserent acquires F5 Networks partner Airloom

Security firm Tesserent has bought Sydney cybersecurity provider Airloom for $14.8 million, gaining staff and contracts, after recently acquiring Seer and securing $10 million for its Cyber 360 strategy.

Cyborg Dynamics and partners un-man ground vehicles

Cyborg Dynamics and BIA5 have unveiled an Australian-built unmanned ground vehicle after a year of development, backed by a defence industry grant, a NASA-supplied platform and university research support.

Alberts Impact Ventures invests in Sendle

Alberts Impact Ventures has invested in Sendle, an Australian carbon-neutral delivery service for small businesses that has recently expanded into the US market.

Also Alberts Impact Ventures portfolio·SmartCompany·SmartCompany·Startup Daily·Startup Daily

Subscription e-bike venture Bolt Bikes raises $16 million as it rebrands and expands globally

E-bike subscription startup Bolt Bikes, now rebranded as Zoomo, raised $16 million with CEFC contributing $7 million, plus venture debt, to fund expansion in Australia and overseas markets.

E-bike start-up in the money as clean energy fund leads $16m round

OneVentures points readers to an Australian Financial Review report that an unnamed e-bike startup has raised a $16 million round led by a clean energy fund.

Xero to acquire Aussie SME lending startup Waddle for $80 million

Xero is buying Sydney invoice-lending startup Waddle in a deal worth up to $80 million, combining $31 million upfront with earnouts; the article also recalls Waddle's $50 million debt facility and Series A.

Also Australian FinTech·Startup Daily·Australian FinTech

Zip Co propels higher on US takeover target update

Zip Co shares rose ahead of a shareholder vote on its planned QuadPay acquisition, with the US target reporting revenue growth, a bigger customer base and new merchant partnerships.

How Shippit got lean and profitable during COVID

A OneVentures blog pointer to Australian Business Review coverage of how logistics company Shippit cut costs and became profitable during COVID, with no funding, exit or people details stated.

Startup Daily TV: University of NSW is putting 7 startups through its 10x Accelerator program

UNSW Founders' 2020 10x Accelerator is running seven startups chosen from 75 applicants, each receiving $20,000; the cohort spans four states, and David Burt discussed the program on Startup Daily TV.

Aussie e-bike subscription startup rides away with $16 million in funding and a brand new name to boot

E-bike subscription startup Bolt Bikes has raised $16 million and rebranded as Zoomo, with co-founders Michael Johnson and Mina Nada citing rapid growth and overseas expansion during the pandemic.

Also Startup Daily

Startmate bolsters its female leadership with Lauren Capelin as Principal and Blackbird's Samantha Wong joining the board

Startmate appoints Lauren Capelin from Reinventure as its first Principal and Blackbird's Samantha Wong to its board, replacing Nick Crocker, as it launches its first New Zealand accelerator cohort.

With $11 million in fresh capital, Bolt Bikes rebrands to Zoomo

Sydney electric bike startup Bolt Bikes has rebranded as Zoomo and raised $11 million in a Series A led by the Clean Energy Finance Corporation, with equity and venture debt investors, to expand subscriptions.

Exclusive: Music Licensing Startup Songtradr Raises $30M Series C

Music licensing platform Songtradr raised a $30 million Series C led by the St. Baker family office, valuing it at $165 million; it had earlier acquired Big Sync Music.

Also SmartCompany·Startup Daily·SmartCompany

Logistics startup Loadsmile rebrands as Ofload following $2.8 million seed round

Sydney freight-tech startup Loadsmile, now Ofload, closed a $2.8 million seed round led by Maersk Growth, with Global Founders Capital and Flash Ventures, to expand Australian operations and its carrier platform.

Also Startup Daily·Startup Daily·Startup Daily·Forbes Australia

Challenger B2B fintech Parpera aims for $800,000 crowdfund target

Australian business banking startup Parpera has opened an equity crowdfunding campaign via Equitise, with $400,000 already committed, and announces a partnership with MYOB.

The incredible story behind creating Buildkite, the $200 million ‘best-kept secret in DevOps’, by an investor there from the start

Early investor Matt Allen recounts Buildkite's origins in the Ruby community, its sole $200,000 raise from nine individuals, and this week's secondary share sale valuing it at $200 million.