Venture capital fund · 5 deals
Perth, WA
Every published round Fund WA 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 |
|---|---|---|---|---|---|---|
| Detail Earth | Seed | Dec 2025 | $1.5m | Lead | Startup Daily, SmartCompany | |
| Hola Health | Series A | 8 Apr 2025 | $6m | Participant | Startup Daily | |
| CoraMetix Pty Ltd | Seed | Apr 2024 | $500k | Lead | SmartCompany | |
| Hola Health | Series A | 20 Mar 2024 | $4.5m | Participant | Startup Daily, SmartCompany (Fri 22 Mar 2024), SmartCompany (Wed 20 Mar 2024) | |
| VitalTrace | Grant | 28 Sep 2023 | - | Lead | Startup News (WA) |
Companies Fund WA has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| CoraMetix Pty Ltd | Apr 2024, Seed | 1 | 1 | |
| Detail Earth | Dec 2025, Seed | 1 | 1 | |
| Hola Health | 20 Mar 2024, Series A | 2 | 0 | |
| VitalTrace | Continuous lactate biosensors for real-time fetal monitoring | 28 Sep 2023, Grant | 1 | 1 |
Fund closes reported for Fund WA, as distinct from the investments it has made.
Companies Fund WA has backed that another company then bought. An exit for the holding, not a deal Fund WA did.
Stories naming Fund WA. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Western Australia's government is funding three local early-stage venture funds — Purpose Ventures, Fund WA and Quokka Capital — through its WAVES co-investment scheme, offering each capped annual operational support to grow the state's venture sector.
Six Australian startups, including Bodd, Hachiko and Cor, collectively secured about $24 million in fresh backing, while seaweed peer Sea Forest floated on the ASX and jumped in early trade.
Weekly funding roundup covering raises by Bodd, Hachiko, Fremantle Seaweed, Cor, Detail Earth and Recovr, plus seaweed peer Sea Forest's ASX float at a $112 million market capitalisation.
Also Startup Daily
Woolworths, via its Healthylife arm, led telehealth firm Hola Health's $6m Series A at a $70m valuation, with M8 Ventures and FundWA backing; the Perth company raised $4.5m a year earlier.
Western Australia's government added $15 million to its WAVC fund-of-funds, committing $45 million across seven venture firms to back local startups; Purpose Ventures' fund closed at $55 million after backing My Mirror and SpacetoCo.
Western Australia's government has grown its WAVC fund-of-funds commitment to $45 million, backing seven venture funds, four WA-based, to invest locally; Skalata's WA portfolio already includes C0-architecture and Omni Biotech.
Roundup of the week's funding news: nine companies across Australia and New Zealand secured investment spanning clean energy, construction logistics, legal tech, coaching, research tools, creator media, medtech and marketing software.
Also Startup Daily·SmartCompany·SmartCompany·SmartCompany·SmartCompany·LaunchVic
A weekly roundup detailing five raises across Australia and New Zealand: Marmalade, Cauldron, Prophet, Hola Health and Buddy, naming amounts, lead backers and founders.
Perth telehealth firm Hola Health has banked $4.5 million in a pre-Series A round led by M8 Ventures with FundWA and angels; M8 partner Emily Rich takes a Hola Health board seat.
Hola Health, a Perth-based on-demand telehealth and pharmacy delivery provider, has banked $4.5 million at pre-Series A with M8 Ventures heading the round, FundWA and angels also in; Emily Rich joins the board.
InterEarth, a Western Australian biomass carbon storage venture, has drawn investment from Fund WA — its third deal — alongside Counteract and Foxglove Capital, and is working with Nasdaq-owned carbon registry Puro.earth.
Hola Health, a telehealth provider, has rolled out psychology consultations and subsidised mental health assessments for Australians, months after taking investment from the newly formed early-stage fund FundWA.
FundWA has backed Perth medtech VitalTrace as the second deal from its debut fund. The biosensor startup's co-founders took out a 2021 WA Innovator of the Year award.
A newly established West Australian venture fund has made its maiden startup investment, backing a telehealth platform founded by three WA entrepreneurs; the fund itself operates with support from a state government grant.
Birchal's cofounder argues equity crowdfunding is closing the capital gap for founders outside the big cities, citing Western Australia's FY23 growth and two regional companies reaching the $5 million cap.
Kylie and Derek Gerrard's Purpose Ventures has closed $37m for its Western Australian startup fund, with WA investors, the Steinberg Family Office as cornerstone backer and state government operational support.
Also Startup Daily
Western Australia's government has selected three forming local early-stage venture funds, Purpose Ventures, Fund WA and Quokka Capital, for 100,000 dollars each in matched operational funding under its WAVES pilot.