Health insurance company Bupa has launched a $20 million VC fund, Bupa Ventures, to back Australian healthcare startups. Bupa Ventures will support early-stage investment from Seed to Series A and will look to support startups across a broad spectrum of health sectors. Its early focus includes predictive and preventative healthcare, genomics, home care and remote monitoring,… Read more »
Grok Ventures, the private investment fund of Atlassian cofounder Mike Cannon-Brookes, has named global asset management executive Tan Kueh as CEO, joining chief investment officer Jeremy Kwong-Law. Cannon-Brookes said that Grok is entering a new phase of growth, having refined its investment strategy to make a bigger impact on addressing the global climate challenge. “Having… Read more »
Climate startup CarbonHQ, has raised $600,000 in pre-Seed capital to bring transparency and accountability to carbon credits. The raise was backed by early-stage VC funds Galileo Ventures and Investible. CarbonHQ aims to improve the efficiency and transparency of carbon projects and address the $3 billion voluntary carbon market (VCM). They are currently developing a digital platform… Read more »
Sydney startup AMSL Aero, which has designed and built a Vertical Take Off and Landing (VTOL) aircraft powered by hydrogen, has sold its first 10 aircraft to a commercial client. Aviation Logistics, which operates spanning regional passenger services, charter, freight and aeromedical flights, paid deposits on 10 aircraft, with the option to buy 10 more,… Read more »
Venture capital funding in Australia plunged 53% in 2023 on the previous year, returning to the level seen at the startup of the Covid pandemic in 2020. The year saw 413 reported deals totalling $3.5 billion (down from $7.4B in 2022) according to the third annual The State of Australian Startup Funding Report by Cut… Read more »
The Australian government’s Medical Research Future Fund (MRFF), has invested a combined $3.25 million in four digital health startups through the commercialisation program ANDHealth+. ANDHealth backed two AI-based startups with non-dilutive funding: Baymatob, which developed a wearable monitor for pregnant women that uses AI to analyse to their vital signs for risks of birth complications; and… Read more »
Power retailer Amber Electric has raised $29 million in a Series C as it looks to take its battery and EV automation software offshore. ASX-listed billing and CRM provider Gentrack led the round with $12 million, building a strategic partnership with Amber to bundle its billing and customer care with Amber’s battery and EV automation… Read more »
The Albanese government’s signature business investment vehicle, the $15 billion National Reconstruction Fund, has its first boss, with veteran Macquarie Group executive Ivan Power named as CEO. Power has worked in global investment for more than 25 years alongside a strong track record in working with early-stage startups and social ventures.. UNSW director of entrepreneurship… Read more »
FinTech Australia has holding a reverse pitch event later this month in a collaboration with major banks ANZ and Westpac, as well as fintech investor 1835i. The initiative will see ANZ and Westpac share selected problem statements across banking-related areas such as sustainability, payments and fraud and scams for fintech startups to tackle as part… Read more »
New Zealand wine analysis startup Marama Labs has raised €1.75m (A$2.85m) in Seed funding to expand its global footprint. The round was led by European agritech VC The Yield Lab, supported by New Zealand Growth Capital Partners, Icehouse Ventures, Quidnet Ventures, DeepIE, Radar Ventures, NZVC, and Kiwi angel groups, plus high-net-worth’s from Ireland and Germany.… Read more »
Food redistribution platform Yume has raised $2 million as a Seed round as it looks to address food waste by connecting food manufacturers with surplus stock with businesses and charities that can use it. The round was led by Investible via its Climate Tech Fund, Investible’s Early Stage Fund 2 and Club Investible syndicate, with… Read more »
Last year Blackbird Ventures made a massive bet on a New Zealand rental accommodation app, just six months after it had turned down a $200,000 pitch for cash. In August 2023, Blackbird instead tipped $7 million into a A$9.5 million Seed round for Kiki. The startup’s cofounder Toby Thomas-Smith, said Blackbird’s New Zealand partner, Samantha… Read more »
Green energy infrastructure startup National Renewable Network (NRN) has secured $10 million in funding as part of its ambition to provide low cost solar and battery setups to 250,000 Australian homes by 2030. The funding facility of up to $10 million has come from Catalytic Impact Capital, an impact/ESG-focused private credit business offering secured loan… Read more »
● Increases to the sophisticated investor qualification thresholds are planned ● The startup sector is worried it will dramatically cut access to early stage investment capital ● Floated changes increase the thresholds by 80% after 22 years ● Around 16% of Australians currently qualify ● The bigger issue is education for investors ● A broad… Read more »
Law firm Lander & Rogers will run its seventh accelerator program for legal tech startups in 2024, with applications now open. The focus is once again on artificial intelligence (AI), which, like so many traditional industries, is now transforming law. Since it began, the LawTech Hub accelerator has assisted 25 startups – all bar one… Read more »
Unicorn dehorned: Nasdaq-listed Brisbane EV charging venture Tritium collapses into receivership 
The lessons from Uber, Ola and rideshare’s disruption is that in the end, the consumer still pays 
‘Have I gone too far?’ How founders can beat their startup demons 
Here are the finalists in Fintech Australia’s 2024 Finnies awards 
Daily startup news and insights, delivered to your inbox.
