Australian venture funding, tracked

Seven startups that raised $77.2 million this week (kind of)

Weekly roundup of seven Australian and New Zealand startup raises, headlined by a previously unreported $32 million seed for banking software venture Constantinople, plus new rounds for six other companies.

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‘Infinite recycling’ startup Samsara Eco partners with Lululemon

Enzyme-based plastics recycler Samsara Eco announces a multi-year partnership with Lululemon, which makes an undisclosed minority investment, its first in a recycling company.

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Cadmus Media Release

Victoria's government-backed investor Breakthrough Victoria is putting $600,000 into Cadmus, a Melbourne maker of university assessment software, as part of an undisclosed round funding its overseas growth.

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Luxury for rent: The Volte's plans to disrupt fast-fashion

Fashion rental marketplace The Volte has secured $4 million in a Series A round headed by eBay's venture arm, coinciding with a commercial tie-up with eBay and royalty payments for designers.

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Boeing teams up with White Graphene for aerospace

White Graphene, majority-owned by PPK Group and working with Deakin University, won Boeing's space sustainability pitch competition, securing up to $100,000 to develop boron nitride nanomaterial uses in aerospace.

Black Sky Aerospace gets approval to develop rocket fuel facility

Black Sky Aerospace has approval to turn its Queensland property into an integrated rocketry site, and earlier received nearly half a million dollars from the Advanced Manufacturing Growth Centre for propellant work.

Bluescope backs gravity storage start-up with funds and lab at Port Kembla

Steel maker BlueScope commits money and site space at Port Kembla for startup Green Gravity to build a gravity-based energy storage research lab, with construction beginning this month.

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Anto speaks to AusBiz on how to generate returns during a recession

The platform's media page promotes a televised interview in which its co-founder and chief executive discusses recession conditions, volatile markets and generating income through alternatives.

Anto speaks to AusBiz on how demand for alternatives rises amid rate uncertainties

Stropro's CEO tells AusBiz that rate uncertainty is driving investor appetite for alternatives such as private credit and green infrastructure.

Manufacturing news briefs — stories you might have missed

Roundup of manufacturing news: a naval ship delivery, a packaging firm's guidance downgrade, low carbon grants for nine Victorian manufacturers, a Queensland grant, an executive appointment, a truck safety launch, and a US distribution deal.

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Vast Solar gains partner for solar methanol export

Vast Solar signed a letter of intent with Germany's Mabanaft covering potential offtake and equity in its Solar Methanol 1 plant, while ARENA's approved funding for the VS1 solar thermal project stands.

Raiz brings residential property investing to all Australians

Raiz Invest has launched its Raiz Property Fund, letting users allocate part of their portfolios to residential property, with dedicated property portfolios for its micro-investing and super products.

Fintech mortgage broker Finspo secures $2.55m to enhance its end-to-end digital experience

Australian digital mortgage broker Finspo has closed its Series D round, raising $2.55 million in equity to scale its business and further develop its digital home loan platform.

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Investment Notes: Constantinople A$32M Seed

Square Peg's note on leading a A$32 million seed investment in banking-software startup Constantinople, with AirTree Ventures and Great Southern Bank participating; the bank is also the platform's first client.

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Tasmania green hydrogen hopeful signs with possible first customer

Green hydrogen developer Countrywide Hydrogen has lined up haulage firm 7R Logistics as a potential inaugural customer; the article also recalls HESTA's $100m investment.

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AI-based eye disease detection startup raises $18 million from US investors

Melbourne AI eye-screening firm Eyetelligence secured US$12 million from Ascertain, the New York healthcare investor's first international deal, and will relaunch in the US under the Optain brand.

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Honour for green hydrogen leader Professor Gerry Swiegers

Wollongong electrochemist Gerhard Swiegers has won an ARC Industry Laureate Fellowship with $3.7 million in funding for electrolyser research that underpins green hydrogen startup Hysata.

Seabin seeks to raise $5 million through equity crowdfunding for impact data offering

Seabin is launching a third equity crowdfunding campaign via Birchal, hoping to raise $5 million to scale its nature repair impact data offering, with products manufactured by Evolve Group in Brisbane.

Renewable Metals wins ‘Supercharge Challenge’

A Perth company that recycles lithium batteries has won the inaugural Supercharge Australia Innovation Challenge Award, finishing ahead of Sicona and Roev, and now plans a NSW plant feasibility study with state fund support.

Antler Investor Memo Series: Blockchain payments gateway Syrax is rewriting the rules for merchants using crypto

Antler Australia's investor memo profiles Syrax, a decentralised crypto payments gateway founded by Sanjeev Rao and Babak Rafat, which received Antler pre-seed backing in late 2022 and is now seeking follow-on capital.

Susan Oliver & Carol Schwartz hand over women-focused angel startup fund Scale Investors to the next generation

Nexion Group eyes M&A with $21M funding

Cloud provider Nexion Group secured $21 million from Parc Capital to pursue acquisitions, starting in New Zealand. The piece recalls its ASX listing, an earlier merger, and the founders' recent departure.

Swedish renewables giant plans rapid Australia expansion after buying out solar developer

Swedish energy group OX2 has acquired Australian solar developer Esco Pacific for $126 million; founder Steve Rademaker gains $42.8 million plus a possible $17 million earnout, while Shell exits its 49 per cent stake.

Increasing renewables on the grid through accurate inertia measurement

ARENA grants $1.43 million to Reactive Technologies for a Victorian trial of its real-time grid inertia measurement technology, with support from DEECA, AEMO, Neoen and the Melbourne Energy Institute.

Consumer data leader Biza.io appoints Joe D'Addio to board, eyes Sydney expansion

Biza.io appoints Joe D'Addio to its board, promotes Mark Perry to Chief Growth Officer, hires Peter Hill and Stella Kwok, and plans a Sydney office, recalling its 2022 Series A.

'As strong as plastic bags': Aussie startup wins eco award for bag that dissolves in water

Sydney startup Cassava Bags Australia won Bupa's 2023 eco-Disruptive award for water-soluble cassava bags, having earlier received over $350,000 via Bupa's 2022 program, while a Birchal crowdfunding round remains only an intention.

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Alice startups join forces to support working parents

Two Alice Anderson Fund portfolio startups have partnered to create educational content helping managers support breast-feeding parents returning to work, with pump cushions available for purchase online.

Fortescue decarbonisation path has simple drivers: Heyning

InvestMETS interviews Fortescue's decarbonisation head at Austmine 2023, where he defends the miner's 2030 real-zero plan, citing fuel costs, supply risk, tightening regulation and green price premiums.

Airwallex launches operations in Israel as it plans expansion across Middle East

Payments firm Airwallex has opened an Israeli operation based in Tel Aviv and appointed Or Liban to lead its Israel and Middle East business, as part of wider regional growth plans.

Meet the 3 impact entrepreneurs selected to join the global Cartier Women’s Initiative program

Here are the 10 startups emerging from the Curtin University Accelerate program

Ten startups graduate from Curtin University's 2023 Accelerate cohort, spanning health, education, mining and tech; the group shares $100,000 in equity-free money backed by Lotterywest via Spacecubed's IdeaStarter fund.

Australia's regional areas lead the way in technological revolution

Feature on tech startups thriving outside Australian capitals, recording Cauldron's seed raise and government backing, with views from investors and founders at regional companies.

Ellerston JAADE New Investment: Nitro

Ellerston's JAADE fund says it invested in Nitro Software alongside Potentia Capital, part of the takeover that delisted the document productivity software company from the ASX.

CEFC sinks $80m into push for private infrastructure to decarbonise

Australia's Clean Energy Finance Corporation commits $80 million to Pacific Equity Partners' decarbonisation infrastructure fund, which closed above expectations at $1.4 billion, and earlier backed a similar Crescent Capital vehicle.

Go1 snaps up speed reading app Blinkist to expand in enterprise learning

Australian learning platform Go1 is buying Berlin's Blinkist to grow its corporate training offering; deal terms are undisclosed, though Blinkist backer Insight Partners is taking $30 million of Go1 equity alongside the purchase.

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Everledger, the blockchain startup from Queensland’s former chief entrepreneur, enters administration

Blockchain provenance startup Everledger, founded by Leanne Kemp, has entered voluntary administration after an expected funding round fell through, with administrators appointed and staff made redundant despite earlier backing from Tencent and others.

Also Startup Daily

Sydney metal powder technology company announces $15 million Series A

Western Sydney metal powder startup Kinaltek has completed a $15 million Series A with investors undisclosed, and previously received a $500,000 grant from the Advanced Manufacturing Growth Centre in 2021.

Also @AuManufacturing·Forbes Australia·@AuManufacturing

SYNthesis BioVentures - Newsletter no. 1

Debut quarterly letter from SYNthesis BioVentures reporting A$18 million committed to its fund, an A$3.8 million stake in Catalyst Therapeutics' A$11.7 million seed round, and two senior appointments from the SYNthesis Group.

Kinoxis snares $266 million for psychiatric drug

University of Sydney spinout Kinoxis Therapeutics signs a licensing and partnership deal with Boehringer Ingelheim to develop psychiatric treatments, with payments and R&D support worth up to $266 million.

Purely Byron wound-up after BWX collapse, as Julie Mathers scoops up Flora & Fauna, Nourished Life

Skincare brand Purely Byron enters wind-up while collapsed parent BWX sells its digital retail arm, holding Flora & Fauna and Nourished Life, to a consortium led by Julie Mathers.

Manufacturing news briefs — stories you might have missed

News roundup: VicReturn names its first CEO, Carbon Revolution's SPAC merger is set for July, DXN wins a first modular data centre order, and Bluechiip completes a placement.

Four Australian startups that landed $69.5 million in funding this week

Weekly roundup reporting four Australian startups together raising $69.5 million: Eucalyptus $50 million, MadeComfy $10 million, Safewill $5.5 million Series A, and rebranded InvestorHub $4 million.

Also Startup Daily·SmartCompany·Startup Daily·vrinsider.com

Brisbane recyclable battery start-up signs up first international investor

Turkish battery-circularity firm Niocycle has become Brisbane startup Vaulta's first overseas backer, joining a further funding instalment; earlier backers included Renu Energy, and Vaulta was picked for a Supercharge Australia program.

Also @AuManufacturing·Techboard

BoozeBud calls last drinks, placed in voluntary administration

Online liquor retailer BoozeBud entered voluntary administration on May 2, with William Buck halting sales and exploring a sale; the article also recalls its earlier ownership changes and other failed delivery startups.

Solar innovator Sundrive maps out plan for 5GW of Australian PV manufacturing

Former 'LinkedIn for blue collar workers' startup Sample rebrands and pivots for new $2.4 million Seed raise

Sample rebranded as Mercu, pivoting from a professional network for essential workers to employee engagement software for deskless staff, and raised a $2.4 million seed round with Sequoia Capital India returning alongside new backers.

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PFI: Windlab gets Federation backing

Federation's site reports the asset manager is raising new money while its portfolio company Windlab seeks a financial adviser for its Queensland project.

Digital estate planning platform Safewill lands $5.5 million in 2nd Series A two years on

Estate planning startup Safewill has landed a second Series A of $5.5 million, led by Carthona Capital with Reinventure and Flying Fox Ventures, to grow the platform and expand overseas.

Also SmartCompany·SmartCompany·Startup Daily

WA agtech startup aims high

Profile of Western Australian brothers James and Rhys Williamson, whose meat provenance venture Latitude 28 Produce received government grant backing and accelerator support before spinning out traceability business Orijin Plus.

Online alcohol retailer BoozeBud calls in the administrators amid brutal market for consumer-facing startups

BoozeBud has entered administration, with William Buck's Michael Brereton and Sean Wengel appointed. The piece recounts the online alcohol retailer's 2018 sale to ZX Ventures, its 2020 sale back to founders, and its Get Wines Direct acquisition.

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