Capital returns but discipline and liquidity remain key
A retrospective on 2025 Australian venture activity: large raises at Firmus, Heidi Health, Airwallex and others, deep tech momentum, and Folklore's own backing of Hullbot and Sphere.
Startup · $30.8m raised
Every investor coverage indicates participated in a round Sphere raised.
| Investor | Rounds | Invested |
|---|---|---|
| 20VC | Series A | - |
| Andreessen Horowitz | Series A | - |
| Felicis | Series A | - |
| YC | Series A | - |
Investors whose own portfolio pages list Sphere, even though we haven't found any coverage of the round yet.
| Investor | Listed on |
|---|---|
| Folklore Ventures | its portfolio page ↗ |
Companies Sphere acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Name | Role | Sources |
|---|---|---|
| Nicholas Rudder | Founder | Folklore Ventures |
Stories naming Sphere. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
A retrospective on 2025 Australian venture activity: large raises at Firmus, Heidi Health, Airwallex and others, deep tech momentum, and Folklore's own backing of Hullbot and Sphere.
Folklore Ventures says its investee Sphere has secured US$20 million in a Series A led by Andreessen Horowitz, with Y Combinator, Felicis and 20VC also in; Folklore backed Sphere at pre-seed.