Australian venture funding, tracked

What venture capital funds expect in 2023

Australian venture investors AirTree, Blackbird, Square Peg and OneVentures review their 2022 deployment and fund raises and predict capital efficiency, venture credit, consolidation and selective funding will shape 2023.

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Breakthrough solar panel startup SunDrive teams up with Sydney University on $2.78 million research project

ARENA has awarded $2.78 million to a University of Sydney professor partnering with SunDrive on perovskite-silicon tandem solar cells. The piece also recalls SunDrive's $21 million Series B and names its backers.

Thinxtra secures A$5M for regional expansion, partner push

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Advanced manufacturing startup Bodd raises $5 million

Melbourne body-scanning startup Bodd raised $5 million led by Candice and Nick Hirons to expand into North American wellness, fashion and pharmaceutical markets and grow its uniform business.

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Firm advises AirTree's FairSupply capital raise

Law firm Lander & Rogers advised AirTree Ventures on FairSupply's AUD6.3 million Series A, with Tidal Ventures, Minderoo Foundation and QIC participating; the firm also recalls recent raises by QuintessenceLabs and Logmaster.

The administrators of The Daily Edited found a buyer in veteran retailer Bernie Brookes

Administrators KordaMentha sold monogrammed fashion label The Daily Edited to Bernie Brookes' BJM, price undisclosed, while Kogan.com separately bought collapsed furniture retailer Brosa for $1.5 million.

Innovation Bay is launching in Queensland and on the hunt for great local startups to back

Angel network Innovation Bay is expanding to Queensland in 2023, planning a Brisbane investor day and a Gold Coast VC retreat; EduVidd's founder credits an earlier pitch event with helping her raise $600,000.

End of year message from the CEO

Breakthrough Victoria's chief executive reviews the investment firm's first operating year, recalling backing for several startups, a university pre-seed fund platform, a quantum technology facility, and a new environmental challenge program.

Kogan snaps up failed furniture retailer Brosa for $1.5 million

Kogan.com has bought collapsed online furniture seller Brosa out of administration for $1.5 million, promising to fulfil customer orders, while the piece recalls Brosa's earlier venture raises and Kogan's past distressed-brand purchases.

“White knight” Kogan scoops up collapsed furniture retailer Brosa for $1.5 million

Kogan has bought collapsed online furniture retailer Brosa out of administration for $1.5 million, a week after administrators KordaMentha were appointed, and will fund delivery of outstanding customer orders.

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Six startup funding deals you might have missed

A year-end roundup listing six recent startup raises, giving amounts, lead investors and co-investors for Tic:Toc, 5B, Syenta, Vively, Aerotruth and Potiki, plus each company's stated plans for the money.

The week in agrifoodtech: BigBasket bags $200m, Kodama's forestry funding, more restaurant tech layoffs

Weekly agrifoodtech roundup covering several food and agtech funding rounds, a research grant for Crop One, a grocery delivery partnership, and the closure of Australian startup YourGrocer.

Case Study: VeinTech

Carbon Group's case study describes how its CFO and accounting services supported medtech startup VeinTech, whose founders met through Perth Biodesign, including helping close the company's recent seed round.

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Ninja collapses leaving 55 devs and staff members looking for work

Perth gaming and software firms Ninja Software and Ninja Syndicate have entered administration after a planned capital raise fell through, leaving 55 staff seeking work while former sales chief Lan Tran helps place them.

DEHORNED UNICORN: The Superhero-Swyftx merger is over

Share trading platform Superhero is demerging from crypto exchange Swyftx, its founders resuming control via a management buyout backed by earlier investors, as Swyftx contends with crypto downturn and repeated staff cuts.

Health regtech startup Zipline banks $10 million for US push

Compliance software firm Zipline.io has secured A$10 million, led by existing backer EVP, to grow in the US, with SecondQuarter Ventures giving staff and early investors liquidity; a prior A$6 million Series A2 closed in November 2021.

Dark Stry launches Perth Murder and Macabre tours

Perth true-crime walking tour startup Dark Stry launched an augmented reality Murder and Macabre tour, and reported receiving a $25,000 government geolocation grant alongside two other Western Australian recipients.

Woodside and Hive Energy invest in Carbon280 hydrogen storage pilot

Perth hydrogen storage company Carbon280 raised 7.6 million dollars from Woodside and Hive Energy to pilot its licensed Hydrilyte technology, after an earlier UK-government-funded trial.

Also Startup News (WA)

Ignition Lane's Great Big Annual Wrap

Ignition Lane's year-end review of 2022 tech news: shifting VC sentiment, record Australian fund raises, grocery delivery failures and shutdowns, local M&A, crypto fallout, awards, and global stories from Twitter to ChatGPT.

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TEG, the entertainment giant behind Ticketek, takes a majority stake in sports star marketplace FAN+

Ticketing and live entertainment company TEG has bought a majority stake in FAN+, a Sydney marketplace for athlete and club experiences, which will integrate with Ticketek. The startup earlier passed through two accelerators and counts Artesian among its backers.

Billionaires Andrew and Nicola Forrest take aim at peanut allergy

Biotech Aravax has received a US$20 million Series B commitment from Brandon Capital and Tenmile to advance its peanut allergy therapy PVX108 into Phase 2 trials.

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Investment Notes: Syenta

Blackbird's investment notes explain why it led a seed round into Canberra printed-electronics startup Syenta, profiling co-founder Jekaterina Viktorova and the company's multi-material 3D printing technology.

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Aravax commences Phase 2 development for peanut allergy therapy with $20m commitment to Series B round from Brandon Capital and Tenmile

Aravax has begun its Series B with a US$20 million investment from Brandon Capital and Tenmile, funding Phase 2 trials of its peanut allergy immunotherapy PVX108 while it seeks further capital.

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TagEnergy to press go on big renewables hub in north Queensland after battery win

TagEnergy will proceed with a large battery and wind hub at Mount Fox in Queensland after winning a place in ARENA's battery tender; its Golden Plains wind farm stage reached financial close last month.

Also @AuManufacturing

Neoen to add big battery to what is now Australia's biggest solar farm

Neoen's Queensland solar farm has become the nation's largest operating, and the developer has won government grant funding for three grid-forming battery projects in Queensland, Victoria and South Australia.

Duni sells 25% of BioPak for growth acceleration

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Christmas comes early for 14 Aussie startups that raised $260 million this week

Weekly roundup covering 14 startup raises totalling over $260 million, headlined by Synchron's $110 million round, plus Roller's shareholder liquidity payout, Partly's record New Zealand Series A, and several government grants.

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Alberts Impact Ventures year in review

Alberts Impact Ventures recaps 2022: six new portfolio companies, five follow-on investments, a led seed round in Abby Health, plus team events, a trade mission and investor recognition.

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Synchron raises $110 million for its brain computer, doesn’t see Elon Musk’s Neuralink as a competitor

Brain-computer interface maker Synchron has closed an oversubscribed Series C, with proceeds earmarked for product development and clinical trials; its co-founder downplays any rivalry with Neuralink.

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AirTree Ventures and Bailador-backed ecommerce venture Brosa hits voluntary administration

Furniture ecommerce firm Brosa has entered voluntary administration with KordaMentha appointed and seeking buyers, after earlier venture raises from AirTree, Bailador and BMY Group.

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Digital twin software startup Willow tops up with $42 million raise at a lower valuation

Digital twin software company Willow raised US$28.8 million from existing backers and directors at a reduced valuation, with the article recalling its 2021 pre-Series B and 2019 Series A raises.

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High-tech twist on the rain dance sparks a shiitake storm

Profile of Cairns startup Rainstick, which uses artificial lightning to boost mushroom growth. It won $20,000 from Dream Ventures, has taken in $200,000, and joined CSIRO's ON Accelerate with nine other teams.

CSIRO’s deep tech accelerator ON is back – and here are the 10 startups in the program

CSIRO has revived its ON Accelerate program and named ten deep-tech startup teams, drawn from universities and its own research, joining the seventh cohort starting in early 2023.

ESG startup FairSupply raises $6.3 million Series A to tackle corporate greenwashing

Sydney ESG supply-chain analytics firm FairSupply has raised a $6.3 million Series A led by AirTree, with Tidal Ventures, Minderoo Foundation and QIC investing, following Minderoo's earlier 2021 backing.

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CSIRO's On accelerate backs 10 deep-tech startups

CSIRO has chosen ten deep-tech ventures from Australian universities and research for its ON Accelerate programme, including Queensland startup Rainstick; the program has helped form 66 companies since 2015.

Oil giant bp invests $20M AUD in Australian startup 5B to install solar farms quickly

Australian solar startup 5B secured $20 million from bp ventures within its $55 million Series B, funding technology development, a North American manufacturing hub, and international expansion.

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Five V packages up BioPak deal; 30pc stake at $275m val

Five V Capital has agreed to buy 30 per cent of packaging brand BioPak at a $275 million valuation, per Street Talk; BioPak was sold to Sweden's Duni Group in 2018.

Also mergr.com·Lawyers Weekly·Forbes Australia

Startup News Award winners 2022

Startup News hands out its fifth annual community-voted awards, honouring WeMoney, Stuart Kidd and Paula Taylor, plus Spacecubed's Golden Ticket won by Matilda, and recaps the year's most-read stories including several funding rounds.

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Cultured meat, seaweed and death tech: 10 startups we’re watching in 2023

SmartCompany profiles ten Australian startups to watch in 2023, recapping recent funding rounds, one acquisition, and pitch-event and awards results across insurtech, gaming, biotech, death tech and freight.

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Smart Paddock

Deliveroo puts $18.8 million on the table as it leaves town – after losing $33 million this year

Deliveroo's Australian arm, in administration with KordaMentha, has proposed an $18.8 million deed of company arrangement for creditors as its UK parent withdraws; grocery deliverer Voly and rival Send also ceased operations this year.

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Online furniture retailer Brosa collapses into voluntary administration

Furniture e-commerce firm Brosa has entered voluntary administration after pandemic-era growth reversed, with administrators appointed to run a sale process; the article also recalls earlier backing rounds.

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Why new Fishburners CEO Martin Karafilis wants to champion regional startups

Startup hub Fishburners has appointed Martin Karafilis as chief executive after an interim period, with plans to support regional founders and expand beyond Sydney.

Manufacturing news briefs — stories you might have missed

Roundup of manufacturing news: Fortescue's ammonia locomotive trial, Nova Eye's US regulatory delay, Wellnex completing its Mr Bright acquisition, ClearVue's research tax payment, and a photonic chip breakthrough.

Smart solar retailer Amber buys energy monitoring app Powerpal

Amber has acquired energy monitoring app Powerpal for $9.5 million. The article also recalls Amber's $13.4 million raise in October, which included NRMA among its investors.

Melt Ventures launches $20 million Advanced Manufacturing Venture Fund

Melt Ventures launched an advanced manufacturing venture fund expecting first close soon and targeting $20 million by March 2023; the piece also recalls earlier backing of Camplify, Gamurs, Greaseboss and other companies.

The Antler Investor Memo Series: How Liively is becoming UberEats for stadium seats

Antler Australia's investor memo profiles Liively, a pre-seed in-venue delivery startup founded by Norbert Herrmann that brings food and drinks to stadium seats, with major Australian venues taking notice.

Brookfield-backed metering firm buys assets of “smart pool” retailer sunk by energy crisis

Metering firm Intellihub has bought the assets of Pooled Energy, a NSW smart pool retailer that entered administration amid electricity price rises. The article also recalls Intellihub's April purchase of GreenSync and Pooled's ARENA grant.

Emissions startup Pathzero refills Series A, 14 months on, with another $8.6 million

Pathzero has topped up its Series A with $8.6 million led again by Carthona Capital, lifting that round to $15.6 million. The piece also recalls earlier raises and notes funding by Arvani and Greener.

Urban analytics startup Neighbourlytics raises $1.3 million in pre-Series A

Melbourne urban analytics firm Neighbourlytics has secured a $1.3 million pre-Series A led by ALIAVIA Ventures, with LaunchVic's Alice Anderson Fund and four existing backers participating, to fund hiring and product development.

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