Funding announcement
Seven ANZ startups that raised $111.5 million this week
Roundup of seven raises across the Tasman spanning fintech, marine tech, agtech, defence and AI, plus a first close for an ACT venture fund.
Government · 4 deals
ACT Government
Canberra, ACT
Disclosed deals
Every published round ACT Government took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| PV Lab Australia | Grant | May 2023 | - | Lead | RenewEconomy | |
| Haast | Grant | Apr 2023 | - | Participant | SmartCompany (Fri 25 Aug 2023), SmartCompany (Fri 7 Jul 2023) | |
| Skykraft | Grant | 9 Dec 2021 | $1m | Participant | @AuManufacturing (Mon 7 Feb 2022), @AuManufacturing (Thu 9 Dec 2021) | |
| Skykraft | Grant | 17 Jun 2020 | $878.2k | Participant | @AuManufacturing (Tue 10 Aug 2021), Startup Daily, @AuManufacturing (Wed 17 Jun 2020) |
Cohort members
Everyone ACT Government has named to a program in published coverage. A place in a program is not a raise: the cheque is the figure recorded with the place, which is the program's standard terms where we hold them, and a blank is one we don't.
Portfolio
Companies ACT Government has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Haast | Apr 2023, Grant | 1 | 0 | |
| PV Lab Australia | May 2023, Grant | 1 | 1 | |
| Skykraft | 17 Jun 2020, Grant | 2 | 0 |
Funds
Fund closes reported for ACT Government, as distinct from the investments it has made.
Portfolio companies acquired
Companies ACT Government has backed that another company then bought. An exit for the holding, not a deal ACT Government did.
People
| Name | Role | Sources |
|---|---|---|
| Andrew Barr | Chief Minister | Space Connect, ellty.com, insidestategovernment.com.au, Startup Daily |
Coverage
Stories naming ACT Government. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
2 deals
Canberra defence tech company Seitec secures $4m investment to expand overseas
Seitec, a Canberra defence technology maker, has landed a $4 million round with ACTivate Capital leading and Beaten Zone Venture Partners and UNSW participating, funding overseas expansion, product development and hiring.
Also Startup Daily
3 deals
ACT Investors: 15 Canberra Funds Backing Deep Tech in 2026
A directory of fifteen Canberra investors backing deep tech, noting ACTivate Capital's fund first close, several government-backed company raises, an incubator's alumni, and one portfolio acquisition.
2 deals
$50m ACTivate Capital fund launched to back ‘great science’ and boost Canberra startups
The ACT Government has launched the ACTivate Capital venture fund, with an initial $23 million close and capacity for $50 million, to back Canberra startups and commercialise local research, led by fund manager Ken Kroeger.
Fund close
$23m
ACT Govt launches new venture capital fund
The ACT Government launched the ACTivate Capital Fund with $23 million committed, backed by Epicorp, UNSW Canberra and family offices, targeting Canberra early-stage companies.
Funding announcement
Collaboration to integrate quantum and high performance computing
Quantum Brilliance is teaming up with Oak Ridge National Laboratory to run its room-temperature quantum processors alongside classical supercomputers for hybrid workloads; the company's work also receives ACT Government backing.
3 deals
Manufacturing news briefs – stories you might have missed
Roundup of Australian manufacturing news: Matrak closes a Series A, Queensland Pacific Metals receives an R&D tax refund, ARENA funds a household energy trial, Ampcontrol appoints a transformation chief, plus policy and launch briefs.
Also @AuManufacturing
News
Offering Australians a Brighte future
Alberts profile of Brighte founder and CEO Katherine McConnell on her shift from Macquarie Bank to solar payments, the company's expansion and cutbacks, its culture, and her awards.
Grant
Infinity Avionics to develop space camera system
Infinity Avionics leads a SmartSat CRC and ACT Government backed project with UNSW Canberra Space and Nominal Systems to build a twin neuromorphic camera for spotting and identifying objects in orbit.
Grant
Drones used for first time to take 'x-ray' assessments of health of solar farms
PV Lab Australia and Singapore's QE Labs used drones for Australia's first electroluminescence scan of a solar farm, imaging every panel at night; PV Lab also received ACT government funding for panel degradation research.
8 deals
Seven Canberra businesses awarded the Innovation Connect Program grant worth $238,0000
Several Canberra startups shared $238,000 in Innovation Connect grants delivered by the Canberra Innovation Network with ACT Government support, covering AI, VR training, food and composting ventures; next-round applications opened July 2023.
Also SmartCompany
Grant
$3m
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.
7 deals
The 7 emerging startups with funding from Canberra Innovation Network’s ICON grants program
Seven Canberra startups have been selected for matched grants of $10,000-$30,000 each through CBRIN's Innovation Connect program, backed by the ACT Government, with a combined $180,000 distributed this round.
Also Techboard
Funding announcement
Video Automation Company | 227% increase in membership and 493% increase MRR | Blue-chip and government clients
Investor-facing profile of Brivvio, a video-automation SaaS startup, citing strong 2021 growth, an ACT government grant, a completed angel-backed seed round, accelerator background, and an open capital raise.
2 deals
Grant
$1m
Skykraft to launch 300kg satellite on SpaceX mission
Canberra space firm Skykraft, a UNSW Canberra spin-off, plans a 300kg satellite launch aboard SpaceX's Transporter-5 rideshare toward a 210-satellite air traffic constellation, and recently won a $1m ACT government grant.
Grant
$838k
Grant
$2.4m
World leading electric vehicle to grid trial in ACT
ARENA has announced a $2.4 million grant to ActewAGL for the REVS trial, deploying 51 Nissan LEAFs in the ACT to provide vehicle-to-grid services, with ANU, JET Charge, Evoenergy, SG Fleet and Nissan involved.
Grant
$1m
Skykraft awarded $1 million to build nano-sattelites
UNSW Canberra spin-off Skykraft receives a million-dollar ACT government grant to develop small satellite systems for global air traffic management, with extra cash and in-kind support from partners.