Investor · 1 deal
Melbourne, VIC
Every published round Boab AI 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, and a place in one of its own programs is under Cohorts.
Everyone Boab AI 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.
| Member | Program | Announced | Cheque | Sources |
|---|---|---|---|---|
| Daitum | Boab AI Scaleup program | 16 Feb 2021 | $300k+ | LaunchVic, ARN (ARNnet) |
| PI.Exchange | Boab AI Scaleup program | 16 Feb 2021 | $300k+ | LaunchVic, ARN (ARNnet) |
| Plaetos | Boab AI Scaleup program | 16 Feb 2021 | $300k+ | LaunchVic, ARN (ARNnet) |
| Remi.ai | Boab AI Scaleup program | 16 Feb 2021 | $300k+ | LaunchVic, ARN (ARNnet) |
| StrongRoom AI | Boab AI Scaleup program | 16 Feb 2021 | - | LaunchVic, ARN (ARNnet) |
Companies Boab AI has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| StrongRoom AI | 2020, Accelerator | 3 | 0 | |
| PI.Exchange | 16 Feb 2021, Accelerator | 1 | 0 | |
| Daitum | AI rostering and scheduling software for workforce management | 18 Feb 2021, Accelerator | 1 | 1 |
| Plaetos | 18 Feb 2021, Accelerator | 1 | 1 | |
| Remi.ai | 18 Feb 2021, Accelerator | 1 | 1 |
Investors that coverage says has money in a fund Boab AI runs. This is a stake in the fund, not in any company the fund has backed.
| Investor | Fund | Sources |
|---|---|---|
| Artesian VC | Boab Global AI Fund | SmartCompany, Startup Daily |
Companies Boab AI has backed that another company then bought. An exit for the holding, not a deal Boab AI did.
| Name | Role | Sources |
|---|---|---|
| Andrew Lai | Managing Director | LaunchVic, Startup Daily (Thu 26 Aug 2021), SmartCompany, ARN (ARNnet), Startup Daily (Wed 21 Oct 2020) |
Stories naming Boab AI. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
As Breakthrough Victoria and LaunchVic combine into Innovation Victoria, nine partner organisations will share government funding to run pre-accelerator programs for founders at the idea stage.
EVP alleges StrongRoom AI's CEO admitted fabricated revenue and debt figures after the Sydney VC invested $10.4m in a $17m raise; the Melbourne startup is now in administration with assets frozen.
Strong Room AI, a Melbourne medicines-management startup, is in voluntary administration weeks after a February raise; investor EVP's court action froze assets while administrators seek a buyer and creditors meet on April 8.
Tyson & Blake, which seeded StrongRoom AI, threatens legal action against EVP, which is suing to recover its $10.4 million after the Melbourne medtech entered administration.
LaunchVic case study on Boab AI, a Melbourne investor backing artificial-intelligence companies through a program funded by LaunchVic and Artesian; it names Remi, PI.Exchange, Daitum and Strongroom among those supported.
AI-as-a-Service startup Pi.Exchange has raised A$2.75 million in a pre-Series A round from Boab AI, Artesian, Nextrans, Vision Creator and Himat Trust, to grow its team and self-serve AI product.
Boab AI has launched its scale-up accelerator, putting $1.5 million into five AI startups in its first cohort, drawing on Artesian's $100 million Boab Global AI Fund and Victorian government backing via LaunchVic.
Tech roundup: Facebook's smartwatch plans, Jaguar's EV pivot, Kraken launching a VC arm, Tribe raising pre-IPO ahead of a planned ASX float, and LaunchVic backing Boab AI's scaleup program and first five companies.
Also Startup Daily·LaunchVic
LaunchVic-backed Boab AI launches Australia's first AI scaleup accelerator in Richmond with government and private backing, naming its first five startups, alongside a new $100 million Artesian-powered AI investment fund.
Boab AI has launched a Victorian scaleup program for mature AI companies, backed by LaunchVic and Artesian, naming Pi.Exchange, Plaetos, Strongroom AI, Daitum and Remi AI in its first intake.
Opinion piece by Boab AI's managing director arguing Australia lags global AI investment, describing Artesian's backing of Boab AI's scaleup program and its plans for a dedicated AI fund.