SmartCompany

July founders take 20% stake in Memobottle at $10 million valuation

Two founders of a luggage brand have bought a fifth of a water bottle maker at a ten-million-dollar valuation, with the money going into growth rather than to sellers, and a new bottle launching soon.

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‘A sword to send companies into bankruptcy’: Businesses face ‘audit hell’ as R&D goalposts shift

Advisers warn that ATO audits and years-later repayment demands are destabilising firms claiming the R&D tax incentive, citing BindiMaps' administration and sale, as the government prepares to overhaul the scheme from 2028.

Three Aussie startups that raised $18.75 million this week

Roundup of three Australian raises: Skopos Bio's $12m seed for targeted cancer radiopharmaceuticals, Trendspek's $6m for infrastructure condition AI, and R2Crete's $750,000 pre-seed for concrete recycling.

Also Startup Daily·This Week in Australian Startups·Cut Through Venture

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The Laundry Lady launches new digital app as it gears up for UK launch

Laundry service launches a customer booking app built on its TimeBoss platform, recalling a 2025 investment raise that funded its tech team, with a British launch planned for early 2027.

The Victorian Opposition wants to end the state’s $2 billion VC fund

Victoria's opposition pledges to shut down Breakthrough Victoria and sell its investments, calling the state fund a failure. The piece recalls portfolio raises, a rescue deal, an NYSE listing and the LaunchVic merger.

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“We’ve given it our all”: Adaptive fashion pioneer JAM The Label to close

Adaptive fashion brand JAM The Label is shutting down after nearly eight years, with founders Molly Rogers and Emma Clegg citing an underdeveloped Australian inclusive-design market and their new family priorities.

Proud Poppy returns to founder after surviving voluntary administration

Womenswear label Proud Poppy will leave voluntary administration with control returning to founder Tara McKeon after creditors approved a deed of company arrangement; four stores closed during the process.

Darwin-based Global Resource Recovery gets a $55 million NRFC loan boost

The NRFC has lent Global Resource Recovery $55 million in debt funding to expand its Darwin chemical recycling facilities, with the project forecast to create 115 temporary and 11 full-time jobs.

Also Dealroom·Business News Australia

Four Aussie and Kiwi startups that raised $21.5 million this week

Roundup of four trans-Tasman raises: First Table, Metacognition AI, Dela and GoTroppo secured a combined $21.5 million for restaurant discounting, robotics software, scam-safe payments and flexible internet plans.

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15 ANZ startups that raised $67.2 million this week

Roundup of the week's Australia and New Zealand raises: Gridsight, Pearler and Apate.AI secure the biggest cheques, Drumbeat and GonGlobal add smaller sums, and ten AI startups join Airwallex's Latitude 37 program.

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Expert360's $16 million sale leaves founder, early investors with no share payout

Workforce platform Expert360 is being bought by AI hiring firm Swipejobs at a reported $16 million value, while its founder and earliest backers are set to receive nothing for their stakes.

Also Startup Daily

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Recycling Plastics Australia in administration despite plan to fill gap left by REDcycle

South Australian soft plastics recycler Recycling Plastics Australia, recipient of a $20m federal grant, has entered voluntary administration with KPMG appointed, after a major supplier's collapse derailed its plan to fill REDcycle's gap.

Airwallex invests $1 million in 10 AI startups, spanning roads to robots

Airwallex has named ten AI startups as the first intake of its Latitude 37 program, each receiving equity-free funding, while cohort member Superstat separately raised $3.5 million.

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Two ANZ startups that raised $21 million this week

Two raises reported: Superhero has banked $20m of a hoped $30m round led by Salter Brothers at a $176m valuation, while New Zealand crime-intelligence startup Azonic took NZ$1m in a Blackbird-led pre-seed.

Smart50 star Pay.com.au lands $39 million for US expansion

Melbourne payments fintech Pay.com.au has raised a Series E to launch in the United States under its PayRewards brand; the piece also recalls three earlier raises and names cap table backers.

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Escape room startup Escape This hits 500,000 players as it plots national expansion

Escape room operator Escape This has passed 500,000 players and opened a Melbourne venue, under a year after a $1.4 million crowdfunding round backed by 357 investors, with more states flagged.

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OpenAI equips Aussie SMEs with $5.5 million in startup credits for AI use

OpenAI has handed Australian founders, including two school students, credits worth over $5.5 million; the piece also notes Firmus's $15 billion valuation after a big raise and rising business AI adoption.

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Built Living secures $120 million NRFC loan for cheaper, faster prefab apartments

The federal NRFC has lent $120 million to prefab apartment maker Built Living, which has also drawn $100 million equity from Wesfarmers and a $20 million WA government grant.

Seven ANZ startups that raised $111.5 million this week

Roundup of seven raises across the Tasman spanning fintech, marine tech, agtech, defence and AI, plus a first close for an ACT venture fund.

Proud Poppy Clothing closes fourth store, doubles down on pop-up shops

Proud Poppy Clothing entered voluntary administration in early August; administrators Hall Chadwick have since shut another store while the womenswear label keeps trading, with pop-up shops planned for Canberra and Adelaide.

Eight ANZ startups that raised $67.4 million this week

Eight Australian and New Zealand startups secured a combined $67.4 million in funding across various sectors including agtech, medtech, robotics, and fintech.

Also ontargetish.com

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Australian Business Growth Fund doubles first cheque size to $30 million

The government-backed growth fund has doubled its largest first-investment size to $30m and may now take majority stakes; it also invested an undisclosed multimillion sum in defence manufacturer Griffin Industrial Group.

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Firmus raises $2.85 billion in latest blockbuster funding for AI infrastructure

Data centre infrastructure firm Firmus has raised US$2 billion at an AU$15 billion valuation from Coatue, Nvidia, Blackstone and Jane Street, funding its Project Southgate rollout across Australia and Asia-Pacific.

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Four Aussie startups that raised $2.86 billion this week (sort of)

Roundup of four Australian raises: Firmus Technologies' US$2 billion round at a $15 billion valuation, Eudaemon's $3.75 million, Zabidou's $3.5 million seed round, and Rampart's $2.3 million.

Also This Week in Australian Startups

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Cover Genius secures $143m financing deal, valuation tops $2 billion

Insurance technology firm Cover Genius raised a $143 million debt-style financing round led by Vista Credit Partners, reaching a valuation above $2 billion amid AI-driven expansion plans.

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Flagship raises US$3.75m seed round to expand US retail tech push

Sydney visual merchandising startup Flagship raised US$3.75m in seed funding led by Coreline and Veridical Ventures, aiming to expand US operations and become retail's answer to Canva.

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Ovum raises $4 million seed round for AI-powered women's health platform

Australian women's health startup Ovum secured $4 million seed funding led by Admiralty Capital Group to grow its AI health dataset and platform reach.

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Unlockd co-founder concedes defeat in Google legal battle after eight years

Matt Berriman has given up his eight-year US antitrust fight against Google over Unlockd's collapse; the adtech startup had raised over $60 million before winding up in 2018.

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Barbeques Galore to live on following sale of brand to Melbourne wholesaler

After receivership, Barbeques Galore's brand and intellectual property now belong to Melbourne wholesaler ACOM International; licensed independent stores carry on while 62 company-owned outlets shut and Mike Ainsworth takes the CEO role.

Eight ANZ startups that raised $102 million this fortnight

Roundup of eight Australian and New Zealand startups whose late-July funding totals $102 million across space capsules, medical devices, livestock breath analysis, sports analytics and AI crop forecasting.

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Queensland startup uses AI to give cancer patients their voices back

Queensland medtech Laronix has built AI that recreates patients' own voices from brief recordings; the profile recalls its 2023 seed round, earlier federal grants and a 2025 non-dilutive award.

Also Startup Daily

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Why Heaps Normal spent years perfecting its first alcohol-free wine

Heaps Normal has launched High Hopes, its first non-alcoholic prosecco, after years of development, choosing brand trust over a fast entry into the alcohol-free wine category.

Sendle is back and under new ownership

The Sendle delivery brand, liquidated earlier in 2026 after a troubled merger, has been bought by logistics executive Andrew McKenna, who expects a September relaunch with Quantium Solutions handling deliveries.

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Tracksuit acquires Hall to help brands understand AI mentions

Market research firm Tracksuit buys AI-monitoring startup Hall for an undisclosed sum; Hall's founder stays on as product lead while Tracksuit adds a new chief marketing officer.

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Former Smart50 winner Cover Genius reaches $2 billion+ valuation

Insurtech Cover Genius, previously ranked first on the Smart50 list, has secured $143 million from Vista Credit Partners at a valuation above $2 billion, with funds earmarked for AI development and acquisitions.

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Straand lands in 500 Priceline stores as scalp care goes mainstream

Melbourne scalp care label Straand is now stocked in 500 Priceline pharmacies nationwide, its biggest local rollout, building on Boots and Sephora deals; the piece recalls its 2023 $4 million backing.

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Three ANZ startups that raised $3.6 million this week

Roundup of three ANZ raises: BlueNexus' $2m seed led by M31 Capital, Hyades' NZ$1.1m pre-seed with Icehouse Ventures plus an R&D grant, and ESGAgent.ai's $725,000 seed led by DNX Ventures.

Also ontargetish.com·aistartupsnews.com

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Regional food brand Quincey Jones Preserves banks $259,000 for next growth phase

Equity crowdfunding on Birchal saw the NSW pantry goods maker attract 179 backers, exceeding its minimum target, with proceeds earmarked for production capacity, wider retail reach and an export push.

NSW awards $1 million in MVP Ventures grants to 22 startups

Grants totalling slightly more than $1m went to 22 NSW startups in the latest MVP Ventures round, with individual awards between $24,225 and $75,000; a third round is being assessed.

Dashdot liquidator to retrieve $70,000 founder loan as creditor claims near $15.5 million

A liquidator's report on collapsed buyers' agency Dashdot details a $69,295 founder loan to be recovered, a $3.08 million inter-company loan expected to be lost, and creditor claims of $15.46 million.

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“Truly sorry”: Stax founders break silence as activewear brand enters liquidation

Activewear brand Stax has gone into liquidation after a June receivership, prompting founders Don Robertson and Matilda Murray to apologise online to customers awaiting orders, with CasCap Advisory appointed to wind up the business.

Frasé Skin raises $1.2 million to expand its tradie-focused skincare into the US

The Dubbo-founded, Newcastle-based skincare brand for tradies completed a 535-backer equity crowdfunding raise on OnMarket and is expanding into the US via Amazon, with capital earmarked for marketing, inventory and team growth.

Australian arm of Prime energy drink falls into administration with only $85,000 left in the bank

Congo Brands Australia, the local company behind the Prime drink, has entered administration with minimal cash after packaging firm Orora sought to wind it up; Alice Ruhe oversees the process.

Goterra enters liquidation after hopes of sale fall through

Food-waste startup Goterra will be wound up after administrators found no viable sale or recapitalisation proposals, with Teneo's Walley and Ford appointed liquidator and large creditor claims recorded.

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Australian rocket launch startup Southern Launch raises $25 million

South Australian spaceport operator Southern Launch has banked a $25m Series A with National Reconstruction Fund backing, while Gilmour Space adds a former NASA astronaut to its board.

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MAKO raises $28 million for ‘shark skin’ aircraft technology

MAKO has banked a $28 million Series A, headed by Virescent Ventures, to take its drag-cutting Flightfilm coating to market; the piece also recalls an earlier seed round and a government grant.

Also Startup Daily

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Everlab receives $65 million injection to fix healthcare fragmentation

The preventative healthcare startup behind a diagnostics-and-data platform has banked a $65 million Series A, headed by Airtree Ventures with several funds and cricketer Pat Cummins taking part, to fund international growth.

Also Startup Daily·Forbes Australia·Dealroom·Cut Through Venture·Capital Brief·medtechdaily.org·everlab.com.au·datapile.co

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“We’ve probably grown 50% since we first became partners”: How Consolidated Linen Service scaled without giving up control

Partner content profiling Queensland laundry firm Consolidated Linen Service, whose 2024 minority growth investment from the Australian Business Growth Fund brought capital, governance and hiring support while the founding family kept control.

Dashdot owed $16.5 million at time of collapse

A liquidator's preliminary report shows collapsed buyer's agency Dashdot owed over $16.5 million, with the tax office, lender Mighty Partners, Meta and hundreds of customers listed as creditors.

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Startmate lands $8 million boost to help back more women founders

A profile of On The House, whose founder completed Startmate's program and later raised a seed round, alongside Startmate securing a multi-year commitment from Minderoo Foundation to back women founders.

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Seven ANZ startups that raised $71.8 million this week

Weekly roundup covering seven raises across the Tasman: Phonely's Series A, Pay.com.au's private placement, and rounds for Atomic Tessellator, Caruso, Deteqt, Clean Slate Clinic and Earthletica, worth roughly $72 million combined.

Also crane.vc

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Pay.com.au postpones IPO plans as Iran war spooks investors

Payments fintech Pay.com.au shelved its planned ASX float amid war-driven market volatility, completing a private placement first reported at $20 million ($750 million valuation), ultimately $40 million at $753.4 million.

Also SmartCompany·Cut Through Venture·Startup Daily·SmartCompany·Startup Daily·Dealroom·Fintech News Australia

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Dentroid raises $32 million for needle-free dental technology

Canberra medtech Dentroid has banked $32 million at a $265 million valuation, with Septodont both investing and signing a worldwide licensing deal for its light-based device that eases dental pain without needles.

Also Dealroom

Andromeda increases warehouse size by 400% to scale Abi robot production

The maker of a companion robot for aged care has shifted to a far bigger Melbourne site to scale production, with the story recalling its $23m raise of September 2025.

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Seven ANZ startups that raised $17 million this week

Weekly roundup of seven Australian and New Zealand startup raises totalling $17 million, including two startups entering Y Combinator, plus a new QuantX Labs board director and SmartrMail's earlier sale to Relay Commerce.

Also Startup Daily·Startup Daily

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Socceroos legend Tim Cahill joins sports swag design platform Nardo's $1 million funding round

Nardo, a Sydney platform for amateur sports clubs' teamwear, has secured $1 million pre-seed backing, with ex-Socceroo Tim Cahill investing and taking a strategic partner role ahead of international growth.

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Scalare Partners reels in Fishburners from administration

ASX-listed Scalare Partners has bought Fishburners out of voluntary administration, acquiring its brand, programs and community assets, weeks after KPMG was appointed administrator over unpaid rent.

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DataMasque raises $5.6 million to tackle one of AI's biggest enterprise hurdles

DataMasque, whose platform masks customer data for AI use, has collected $5.6 million from Wavemaker Partners, OIF Ventures and Icehouse Ventures, with Wavemaker leading.

Also SmartCompany·Startup Daily

Birchal cuts own valuation to $5 million in new crowd-sourced funding round

Birchal launched a new CSF raise at a reduced $5 million pre-money valuation, with about $800,000 already committed, amid sector downturn; rival Equitise collapsed and Earthletica raised $1.1 million.

Also SmartCompany·Startup Daily

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Medtech startup Oli raises $6.5 million to predict birth complications before they happen

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