Yesterday, there was one story that dominated the Australian startup ecosystem: Ninja Blocks, a local pioneer in the Internet of Things space, would be closing its doors. It was a clear-cut case of not being able to continue building the company due to a very limited financial runway.
Home intelligence startup Ninja Blocks has today announced a USD$700,000 capital raise. The news follows a successful Kickstarter crowdfunding campaign completed in January through which the startup raised a little over $700,000, more than six times its pledged amount. Investors in the latest fund round are both local and international, and include SingTel Innov8, Blackbird Ventures and 500 Startups.
The team over at Geek Ammo are preparing to launch their newest super geek invention via another Kickstarter campaign. The campaign at the time of publishing has already exceeded it’s $25,000 target heading towards the $100,000 mark at lightning speed.