Government · 9 deals
New Industries Fund
Disclosed deals
Every published round New Industries Fund 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 |
|---|---|---|---|---|---|---|
| Wevolt | Pre-seed | 16 Jun 2023 | $2m | Lead | SmartCompany (Fri 23 Jun 2023), SmartCompany (Mon 19 Jun 2023), Startup News (WA) | |
| Omni Biotech | Pre-seed | 2023 | $300k | Lead | Startup Daily, Startup News (WA) | |
| OncoRes Medical | Grant | 22 Jan 2021 | $150k | Participant | Startup News (WA), Brandon Capital portfolio, Brandon BioCatalyst portfolio | |
| Purpose Ventures | Grant | 4 Apr 2023 | $100k | Participant | Startup Daily, Startup News (WA) (Mon 27 Mar 2023), Startup News (WA) (Tue 21 Feb 2023) | |
| Hermes and Soteria | Grant | Jun 2024 | $40k | Lead | Startup News (WA) (Thu 27 Jun 2024), Startup News (WA) (Fri 29 Mar 2024) | |
| WorkbenchX | Accelerator | 30 Oct 2023 | $40k | Lead | Startup Daily | |
| Procuracon | Accelerator | 2023 | ≤$40k | Lead | Startup News (WA), Startup Daily (Tue 9 May 2023), Startup Daily (Tue 28 Feb 2023) | |
| Vendaly | Accelerator | 13 May 2024 | $20.5k | Lead | Startup News (WA) (Mon 13 May 2024), Startup News (WA) (Fri 29 Mar 2024) | |
| Matilda Health Pty Ltd | Accelerator | 28 Sep 2023 | - | Lead | Startup News (WA) |
Portfolio
Companies New Industries Fund has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Hermes and Soteria | Jun 2024, Grant | 1 | 1 | |
| Matilda Health Pty Ltd | 28 Sep 2023, Accelerator | 1 | 1 | |
| Omni Biotech | 2023, Pre-seed | 1 | 1 | |
| OncoRes Medical | 22 Jan 2021, Grant | 1 | 0 | |
| Procuracon | 2023, Accelerator | 1 | 1 | |
| Purpose Ventures | 4 Apr 2023, Grant | 1 | 0 | |
| Vendaly | 13 May 2024, Accelerator | 1 | 1 | |
| Wevolt | 16 Jun 2023, Pre-seed | 1 | 1 | |
| WorkbenchX | 30 Oct 2023, Accelerator | 1 | 1 |
Funds
Fund closes reported for New Industries Fund, as distinct from the investments it has made.
Portfolio companies acquired
Companies New Industries Fund has backed that another company then bought. An exit for the holding, not a deal New Industries Fund did.
People
Coverage
Stories naming New Industries Fund. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
The WA government is sending 12 startups to the US under a new accelerator program
Western Australia's government has selected twelve tech startups for its new Global Growth Accelerator Program, delivered by Invest and Trade WA, to prepare them for US markets, culminating at SXSW 2025 in Austin.
$547,300 Awarded To Six WA Innovators In Latest X-TEND WA Grants
Six Western Australian innovation programs share $547,300 in the latest X-TEND WA grant round, with applications for the next round open and the maximum grant now $150,000.
Meet The 2024 Plus Eight Accelerator Cohort
Startup News profiles the twelve startups chosen for Spacecubed's 2024 Plus Eight intake in Western Australia, naming their founders and crediting the partners behind the program.
WA Government Announces Latest Recipients Of Innovation Booster Grant
WA's government has granted 26 early-stage companies amounts reaching $40,000 each through the Innovation Booster Grant, listing every recipient and project; the program now accepts applications year-round.
Also Startup News (WA)
Learn how to raise money over dinner
WA venture fund Purpose Ventures stages a discounted founders' dinner on preparing for investment, backed by a state industry fund program and featuring WA founders; the event has since sold out.
FundWA invests in Hola Health
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.
Sports Tech program to be offered in WA for first time
ASTN has received a Western Australian government grant to deliver its sports technology entrepreneurship and pre-accelerator programs in WA, with a Perth launch event scheduled for 25 July.
Purpose Ventures closes $37M fund to invest in WA startups
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
WA Gov throws support behind three new VC funds in WA
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.
FUNDED July 2022 Anniversary Edition
Techboard's anniversary roundup catalogues a month of Australian startup funding: megadeals, three acquisitions, large debt deals, grants, accelerator intakes, and fund news including Archangel Ventures' committed capital.
Also Startup Daily·SmartCompany·SmartCompany·SmartCompany·Forbes Australia·Business News Australia
Spacecubed receives $5.9M Lotterywest grant
Coworking operator Spacecubed marked its tenth birthday with a $5.9 million Lotterywest grant to back Western Australia's early-stage ecosystem — the funder's largest single award, ten years after a smaller grant helped launch it.
More than $643,000 in Innovation Booster Grants announced
WA's New Industries Fund is backing 34 home-grown ventures with over $643,000 in Innovation Booster Grants, most receiving up to $20,000 for commercialisation support, with four funded via a life sciences stream.
$1M boost for WA medical products manufacturing
Five WA medtech companies receive voucher grants from MTPConnect's WA Life Sciences Innovation Hub, sharing $450,000 matched by $600,000 in co-contributions to advance medical manufacturing projects.
Recipients of the 2021 Innovation Vouchers announced
Western Australia's government has named 21 early-stage companies to receive 2021 Innovation Vouchers worth up to $20,000 each, helping them commercialise their innovations; Noisy Guts and EarBuddy are among the recipients.
Startup West podcast 62: Dan Jovevski, WeMoney
Podcast interview with Dan Jovevski, WeMoney's founder and CEO, covering his earlier fintech exit at SwitchMyLoan and the two million dollars his Covid-era startup WeMoney has raised.
Also SmartCompany·Australian FinTech·SmartCompany·Startup News (WA)·SmartCompany·Startup Daily·Startup Daily·Australian FinTech·Startup News (WA)·Australian FinTech
Startup West podcast 58: Erin Bell, Camp Connect
Podcast interview with Erin Bell, whose Camp Connect app tackles FIFO worker wellbeing on mine sites, now winning its first paying client and a place in the 2021 Plus Eight tech accelerator.
OncoRes Medical receives $150,000 funding boost from Western Australian Government
The Western Australian Government is putting $150,000 from its New Industries Fund into medtech startup OncoRes Medical to expand R&D and jobs, with the company also recalling $7.5 million raised from MRCF.
Startup West podcast 46: Michael Palmer, Ads on Wheels
Podcast chat with Ads on Wheels co-founder Michael Palmer on the Perth adtech business's graduation from Plus Eight Tech and its goal of returning $3 million to the community by 2023.
Startup West podcast ep43: Vanessa Rauland & Alexander Karan, ClimateClever
Podcast interview with ClimateClever's two founders about their carbon-footprint tracking tool for schools and homes, their ABC TV appearance, and a funding round completed during the pandemic.
Startup West podcast ep41: Olivia Humphrey, Kanopy
Podcast conversation with Kanopy founder Olivia Humphrey about building the Perth library-streaming company, relocating it to the US, and its later sale to an American private equity buyer.
36 Innovation Vouchers handed out
WA's government awarded a record 36 innovation vouchers worth up to $20,000 each, totalling almost $690,000, with medtech and resources firms among recipients including Nexxis and VeinTech.
Also Startup News (WA)