News
State of AI 2026 Report
Galileo Ventures promotes its report from a May 2026 AI event it hosted with OpenAI, three portfolio companies and several investors, highlighting local venture data and an early-stage investment thesis.
Startup · $1.5m raised · AI
TrueState
Funding history
-
Unnamed stage : $1,500,000
Investors
Every investor coverage indicates participated in a round TrueState raised.
| Investor | Rounds | Invested |
|---|---|---|
| AirTree Ventures | Unnamed stage | - |
| Galileo Ventures | Unnamed stage | - |
| Imprint Capital Partners | Unnamed stage | - |
| Side Stage Ventures | Unnamed stage | - |
What TrueState bought
Companies TrueState acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
People
| Name | Role | Sources |
|---|---|---|
| Will Ashford | Founder and CEO | SmartCompany (Fri 21 Jun 2024), SmartCompany (Tue 18 Jun 2024) |
Coverage
Stories naming TrueState. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
News
Founders Corner: Hard Won Lessons from Building in 2025
Galileo Ventures recaps three founder interviews from its 2025 newsletter series, covering lessons on Australian venture capital, leading through crisis, and building AI grocery tools.
Exit / M&A
Australia's AI Moment: Build, Lead, or Fall Behind
Galileo Ventures argues Australia risks missing the AI revolution, proposes a five-pillar national investment strategy, and announces Fund II to back AI founders, citing its Fund I portfolio and Airtrunk's sale as evidence.
6 deals
Neural Notes: Australia’s AI year in review
Year-in-review column on Australian AI in 2024: five startup raises, Canva buying Leonardo.ai, new government AI regulation and a parliamentary inquiry, the Cosmos AI trial backlash, and a national AI capability plan.
Also SmartCompany
19 deals
Nine Aussie startups that raised $38.3 million this week
Roundup of nine local startups that together banked a combined $38m-plus this week, spanning precision instruments, proptech, adtech, robotics, food, energy storage and AI, with several earlier raises recalled.
Also Australian FinTech·Startup Daily·SmartCompany·AgFunderNews
5 deals
Neural Notes: Dragonfly Thinking’s next steps after inaugural AI Sprint victory
Profile of Dragonfly Thinking after its win in Australia's first AI Sprint, covering its $300,000 support prize, accelerator experience and product plans, plus brief AI news including raises by TrueState and Andromeda Robotics.
Unnamed stage
$1.5m