Startup · $1.5m raised · AI

TrueState

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.

Company	Kind	Announced	Price	Sources
TrueState is not recorded as having acquired anything.

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

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.

Galileo Ventures portfolio Fri 22 May 2026 Galileo Ventures Gumnut OpenAI RelevanceAI TrueState

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.

Galileo Ventures portfolio Tue 20 Jan 2026 Fora Therapy Galileo Ventures TrueState WiseList Will Ashford

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.

Galileo Ventures portfolio Thu 24 Apr 2025 AirTrunk Andromeda Apple BuildAI Canva Galileo Ventures Microsoft Nvidia RelevanceAI Sequoia TrueState Waymo

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.

SmartCompany Wed 18 Dec 2024 Brainfish Deeligence Leonardo.Ai SpatialGPT TrueState Andromeda Australian Government Australian Information Industry Association Canva Cosmos CSIRO Digital Transformation Agency TAFE Ed Husic Simon Bush

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.

SmartCompany Fri 21 Jun 2024 Archistar Linkby Liquid Instruments Loopit Maxme MGA Thermal Naked Rivals TrueState Andromeda ANU Australian Investment Network Coles Commonsense Ventures Disney HelloCars LaunchVic LUXEM Ventures McKinsey QuantumBlack NASA New South Wales state government Nine Pedestrian TV Pixar Tidal Ventures Woolworths AeroCorp AirTree Ventures Alice Anderson Fund Australian Renewable Energy Agency (ARENA)Breakthrough Victoria Galileo Ventures Imprint Capital Partners NAB Ventures OIF Ventures Perennial Private Investments PEXA Purpose Ventures Royal Automobile Club of West Australia Shell Side Stage Ventures Skip Capital Upswell Prabhat Sethi Adrian Fagerlund Dr Alexander Post Andrew Chak Andrew Gordon Dr Benjamin Coorey Chris Wirasinha Professor Daniel Shaddock Dr Erich Kisi Grace Brown Kate Gordon Mark Croudace Michael Higgins Paul Higgins Renata Sguario Robert Coorey Will Ashford

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.