Australian venture funding, tracked

Hypersonix to “get our first ride from Rocket Lab”

Hypersonix picked Rocket Lab to launch its DART AE hypersonic craft under a US defence program, following the Brisbane company's first major contract win.

Two startups raised more in the past 24 hours than entire weeks last quarter

SmartCompany reports two large Australian raises within a day: Novalith's $23 million Series A and Propeller's $22 million round, both well above earlier raises, against a slow first quarter for venture funding.

Also Startup Daily·SmartCompany

Square Peg names James Tynan as partner

Square Peg has promoted James Tynan, a 2020 hire who previously ran Startmate, to partner; the piece also lists startups he has backed for the firm, such as Vow, Neara, Partly and Blinq.

We invested in bra tech startup The OneTwo to build a virtuous cycle for women-led businesses

Guest post by Anna Mackenzie explaining why she and Caitlin, through lady-brains, backed bra tech startup The OneTwo, and urging more women to become angel investors.

Spotlight On: Tim Doyle, Eucalyptus

Blackbird interviews Eucalyptus co-founder Tim Doyle about the telehealth firm's evolving mission, patient safety practices, regulatory advocacy, and lessons from his earlier career, including his time at Koala.

Meet Square Peg's New Partner, James Tynan

Square Peg announces James Tynan as its newest partner, with reflections from Vow's CEO and Square Peg's investment team on his approach, plus his board roles at Partly and Neara and sector outlook.

Rex buys into e-aviation startup

Rex Airlines takes a 20 per cent stake and a board seat in Dovetail Electric Aviation, a Sydney startup retrofitting electric propulsion, which earlier won a $3 million government research grant.

Also Startup Daily

Alex.Bank appoints new State Manager as broker channel expansion grows

Alex Bank has hired Andrew Peng as Victorian State Manager for broker partnerships, as the digital lender reports most new loan originations now flow through brokers.

NovoNutrients wants to turn CO2 into protein

NovoNutrients uses bacteria to convert carbon dioxide into protein and has secured a three million dollar technology and investment deal with Woodside Energy to build a pilot-scale plant.

3 Australian startup founders make the final of the Cartier Women’s Initiative

Three Australian founders, behind One Small Step, Telecare and Teach Well, are among 33 finalists for Cartier's global program for women entrepreneurs and will compete in Paris in May for prize money.

Perth designer and architect marketplace CO-architecture banks $330,000 pre-Seed round

Perth marketplace CO-architecture secured $330,000 pre-seed funding from Skalata Ventures and local angels to connect design professionals with hiring businesses; its founders earlier came through Curtin's Ignition and Accelerate programs, winning an MVP grant.

Also SmartCompany·Startup News (WA)

Antler Investor Memo Series: Business assistant ScreenApp revolutionises video capture and organisation with AI

An investor memo profiles Antler Australia portfolio company ScreenApp, an AI video capture and knowledge platform founded by Andre Smith and Buddhika Jayawardhana, covering its user growth since Antler's pre-seed backing.

Silex completes CRC-P project, produces silicon-28 to “highest purity ever achieved”

Silex Systems finished its zero-spin silicon research project with UNSW and SQC, backed by a government grant, and now plans commercial production of ultra-pure silicon-28 for quantum chips.

Quantum Australia Conference 2023

Breakthrough Victoria's technology director writes on quantum trends from the Sydney conference, noting the firm's earlier investments in Infleqtion and Quantum Brilliance and Infleqtion Australia's launch under a new president.

Caregiver software start-up Circle In bucks dire investment trend for female-led start-ups, raises $2m in funding

Melbourne family-care benefits platform Circle In has closed a $2m round, adding Alberts Impact Ventures to existing private backers and LaunchVic's Alice Anderson Fund, while research highlights shrinking venture money for women-only founding teams.

Also Alberts Impact Ventures portfolio·Alberts Impact Ventures portfolio·Women's Agenda·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Women's Agenda

ACT launches CYNAPSE, a new cyber workforce program to address AI bias in hiring

The ACT government has launched CYNAPSE, a cyber skills program led by FifthDomain and backed by a $3 million government grant, aiming to grow the cyber workforce by at least 100 people by 2024.

Milkrun collapse: Instant delivery startup lays off remaining staff and plans to close doors this week

Instant grocery delivery startup Milkrun is winding up, with co-founder Dany Milham telling staff trading ends this week. The article recalls its $75 million Series A backed by AirTree, Grok Ventures and Skip Capital.

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Applied EV, Suzuki to develop autonomous 4WD EV

Suzuki and Applied EV signed an agreement to co-develop an autonomous electric four-wheel-drive based on the Blanc Robot platform; Suzuki had earlier invested in the Australian company.

Saber Astronautics wins $6m Defence Innovation Hub contract

Also Defence Connect

Fivecast secures $30 million for its AI web monitoring aimed at national security

Adelaide AI firm Fivecast has raised a $30 million Series A led by Ten Eleven, with Main Sequence and the South Australian Venture Capital Fund joining, to expand into overseas markets and grow headcount.

Also Startup Daily·SmartCompany·Forbes Australia

Mental health app idea that’s ‘like Marie Kondo for your mind’ kicks off with $800,000

Modo, a Melbourne company developing a mind-clarity app, has secured pre-launch backing of $800,000 from five funds plus founders of Culture Amp and Seer; the app offers subscription access from early 2024.

Rampersand & Investible treble down on 3D presentation platform in $5.2 million raise

Melbourne 3D and augmented reality presentation startup JigSpace has banked a further $5.2 million from repeat backers Rampersand, Investible and Vulpes; customers include the Alfa Romeo F1 team.

Also Forbes Australia·Startup Daily

“It f*cking rocks and this sucks”: Gourmet ready-meal service CoLab calls in the administrators

Ready-meal platform CoLab has entered voluntary administration after a financing round collapsed, with EY partners appointed; the piece also recalls failures across Australian food delivery, including Deliveroo Australia, Voly, Send and Quicko.

Also AgFunderNews·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily

Manufacturing news briefs — stories you might have missed

A manufacturing roundup covering Hazer's R&D tax refund, Atomo's South African test supply deal, Acrow's asset purchase, PureFoods' product revenue, a solar farm completion, BlueScope's accelerator applications, and a drone modem launch.

Conflux announces project with Rocket Factory Augsburg

Conflux Technology will supply a 3D-printed heat exchanger for Rocket Factory Augsburg's orbital rocket, under a partnership supported by a previously announced $1 million Australian Space Agency Moon to Mars grant.

The Week in AgriFoodTech: Hardee Fresh grabs $56m, Upward Farms shuts down, Wine that tastes like climate change

Weekly agrifoodtech roundup reporting numerous startup funding rounds, fund closes by S2G Ventures and Bidra Innovation Ventures, and collapses including Upward Farms, Boxed, Kalera and Australia's CoLab.

Also AgFunderNews·SmartCompany·AgFunderNews

Don't Go Chasing (only) Unicorns

An agtech venture firm argues deeptech startups can deliver venture-grade returns: technical breakthroughs unlock industrial demand, while debt and project finance limit dilution, so outsized unicorns need not be the only target.

Antler Investor Memo Series: Software startup Tango has developed a next-gen agreements platform for business

Partner content in Startup Daily's investor memo series profiles Tango, whose software updates live agreements for agencies, noting Antler's pre-seed backing, a NSW Government grant, and a growing waitlist ahead of its MVP launch.

Manufacturing news briefs – stories you might have missed

Manufacturing roundup: Memphasys IVF birth and Japanese orders, FIAL chair change, DroneShield's DroneGun Mk4, Austeng's hydrogen burner grant, UNSW recycling hub launch, Symbio laboratory, apprentice award, and MathWorks joining Universal Robots' ecosystem.

Gladstone company awarded $21.7 million support for high-purity alumina production

Alpha HPA has received Queensland government support of up to $21.7 million for Stage 2 of its Gladstone high-purity alumina plant, adding to earlier federal grants of $15.5 million and $45 million.

BLAST OIF | Edition VI

OIF Ventures' newsletter announces leading Nullify's pre-seed round, two investment team hires, portfolio company awards and product launches, and Go1's acquisition of Anders Pink.

Also OIF Ventures portfolio·Startup Daily·Startup Daily

Sydney gourmet food marketplace ChefPrep is in administration, 7 months after rebranding as CoLab after acquiring its Melbourne rival

Gourmet food marketplace ChefPrep, rebranded CoLab after buying its Melbourne rival, has entered voluntary administration with EY appointed, despite earlier angel and seed raises, as creditors meet and a sale process begins.

This CSIRO-joint venture startup is solving a problem that kills thousands every year – landmines

MRead, a landmine-detection venture launched by CSIRO and RFC Ambrian with Codan also investing, has raised a seed round of undisclosed size to advance its handheld explosive detectors.

Also Startup Daily

Sparklabs is hunting for 10 startups to back in its CleanTech accelerator

Startup Daily reports SparkLabs Cultiv8 is seeking ten agri-food tech startups for its NSW cleantech accelerator, a half-year program offering seed backing, mentoring, workspace and investor links; applications close 17 April.

Drone seeding startup AirSeed Technologies is raising a Series A to deliver on a $200 million carbon capture fund

AirSeed, a drone reforestation startup splitting bases between Sydney and South Africa, partners with CIM on a carbon fund, prepares a Series A, and appoints Mara Bún to its board.

Also Startup Daily

Molycop commercialises its next version of green steel through team effort

Molycop has commercialised a process substituting recycled rubber for coke in electric arc furnace steelmaking, backed by a $750,000 AMGC Commercialisation Fund contribution and collaboration with UNSW's SMaRT Centre and Crawford Boots.

Software Combined snaps up Last Yard

Enterprise software aggregator Software Combined has completed its sixth acquisition, buying Perth retail marketing automation firm Last Yard for an undisclosed sum, with staff and brand retained.

Firefighting virtual reality training startup FLAIM lands $6.7 million Series A

Deakin University spinout FLAIM Systems, which makes immersive VR training for firefighters, has raised a $6.7 million Series A, with Breakthrough Victoria taking a $5 million minority stake to fund expansion and new jobs.

Spiral Blue edge computer goes to work in space

Spiral Blue says its Space Edge One computer is now operational in orbit, the first Australian space edge computer commissioned, with work continuing on a hyperspectral mission supported by a manufacturing grant.

Calix low emissions lime technology in UK boost

A UK government scheme has advanced a lime decarbonisation project using Calix's technology, which passed due diligence under an industrial carbon capture funding program alongside partners Tarmac and Calix subsidiary Leilac.

Smart50 Workplaces 2023: Vivi International

A Smart50 Workplaces profile of education-tech company Vivi International, noting its past Series B round that funded international expansion, its South Yarra headquarters, founders, and workplace culture initiatives.

Media Release: Roc Partners Named Global Agribusiness Fund Manager of the Year for Second Year

Sydney private markets firm Roc Partners wins Agri Investor's global agribusiness fund manager award for a second straight year, and has recently closed a private investment fund capped at A$400 million.

Queensland govt, Mastercard back fintech Paypa Plane in $10 million Series A

Brisbane payments startup Paypa Plane closed a $10 million Series A led by QIC with Cuscal, Mastercard and Sprint Ventures; Commonwealth Bank earlier took a 20% stake, and two new directors joined the board.

Also Startup Daily·SmartCompany·Australian FinTech·Women's Agenda·Business News Australia

Manufacturing news briefs — stories you might have missed

Roundup covering an SME sentiment survey, Renewable Metals winning a Supercharge Australia award, a new Queensland trade commissioner, an FFI green hydrogen power deal, a Siemens emissions pilot, and a CDU drones grant.

Three Australian startups that landed over $22 million this week

A weekly roundup reporting three Australian startups that raised funds: Cauldron's seed round, Lumiant's seed extension, and FLAIM Systems' Series A, each with lead investors named.

New Japanese investment in MCi Carbon

Meet the Founder: ARC Ento Tech on mining the power of bugs to tackle the global trash crisis

Profile of Australian startup ARC Ento Tech, whose black soldier fly process turns municipal waste into animal feed, fertilizer and an industrial reductant. Founders Ramon and Ricky Atayde explain the decentralised model; the company is fundraising, with no round stated.

Paypa Plane bags $10m in Series A backed by Mastercard

Brisbane payments fintech Paypa Plane has secured a $10 million Series A led by QIC, with Mastercard, Cuscal and Sprint Ventures joining earlier backers CBA and Tyro, funding hiring and US expansion.

Also Startup Daily·SmartCompany·Australian FinTech·Startup Daily·Women's Agenda

Our Investment in Arlula: Unlocking the full potential of Earth Observation data

Main Sequence announces it led a $2.2 million seed round in Arlula, a startup building a platform for simpler access to satellite imagery and geospatial data.

Also Startup Daily·Startup Daily·@AuManufacturing

Antler Investor Memo Series: Adtech startup MADU monetises visual content in a post-cookies publishing

Profile of MADU, an AI adtech venture turning publisher images into shoppable affiliate content, recalling Antler Australia's pre-seed backing and the founders' progress since joining its cohort.