Three-year-old insurtech startup Honey Insurance has raised $108 million in a Series A that’s lured in US investors Founded by entrepreneur Richard Joffe, cofounder of US-based Park Assist and Stella.ai, Honey launched in 2021. It raised a record $15.5 million in a Seed round led by underwriting partner RACQ and other institutional investors, including AGL,… Read more »
Banking-in-box fintech Constantinople has raised $50 million in a Series A. The round was led by Dutch internet investment firm Prosus Ventures, with support from existing Australian backers Square Peg and AirTree. The Sydney startup, founded in 2022 by former Westpac managers Macgregor Duncan and Dianne Challenor, previously raised US$23 million (A$32m) in a Seed… Read more »
The company behind fan engagement social media brand Basketball Forever has raised $6 million in a Series A. The round for Forever Network was led by Yolo Investments, with support from Three Kings Capital, Folklore Ventures and Astralis Capital. Forever Network will use the capital to expand into the US in the second half of… Read more »
Regional NSW startup Cauldron has raised in $9.5 million (US$6.25m) in Series A for its fermentation technology, which hopes to transform how new foods and fibres are developed. The round was led by existing US investor Horizons Ventures, supported by CSIRO-backed Main Sequence, which also backed last year’s Seed round, as well as new supporters… Read more »
Sydney quantum startup Diraq has raised US$15 million (A$23m) in Series A-2. The round was led by Paris-based Quantonation, the world’s first VC fund dedicated to quantum technologies. Also investing were John Higgins Family Investments and the University of New South Wales. The A-2 raise tops up US$20 million, led by Allectus Capital, when it… Read more »
A vector search startup for ecommerce, founded by a former Amazon robotics scientist and engineer, has raised US$12.5 million (A$19.4m) in a Series A, just six months after banking A$8.1m in a Seed round. The fresh raise for Marqo, was led by Lightspeed, with support from Blackbird, January Capital, and Chronosphere founder and CTO Rob… Read more »
Queensland construction industry procurement platform ProcurePro has raised $6.15 million as it looks to take on the UK market. The company’s first external round was backed by AirTree and industry expert Leigh Jasper through his VC fund Saniel Ventures.\ The capital raised from ProcurePro’s first venture round will help accelerate growth in the UK as a key… Read more »
Allied health practice management startup Splose has commitments on the first half of a Series A raise with a target of $3 million. The Adelaide-based startup has $1.5 million to open its campaign, with CEO and founder Nicholas Sanderson saying the funds will be used to ramp up automation, AI-driven research and development and expansion into… Read more »
Digital security and fraud prevention startup Darwinium has raised for the second time in 12 months, banking US$18 million (A$28m) in a Series A. The round was led by US Venture Partners (USVP), with last year’s Seed investors, Blackbird, Airtree and Accomplice topping up their stakes. The US-based customer protection platform was founded by Bondi… Read more »
Dairy alternative startup Eden Brew has raised $24.4 million in a Series A as it prepares to bring its animal-free products, including milk and ice cream, to market. The two-year-old venture, created as a joint-venture by northern NSW dairy co-op Norco, CSIRO and its VC arm, Main Sequence Ventures, uses a fermentation process to brew… Read more »
A Queensland startup helping power up America with drones to roll out power line upgrades has raised $36 million in a Series A. The round for Infravision was led by US sustainability investor Energy Impact Partners (EIP), supported by Equinor Ventures and Edison International (EIX). Robotics engineer Cameron Van Der Berg and military veteran Chris Cox… Read more »
The founders of TradeGecko and Advocately, Cameron Priest and Patrick Barnes, are back with a bang thanks to their new e-commerce startup, Amp, which has secured US$18.5 million (A$28.5m) in a series A, having only launched last year. AMP is their solution for the challenge retailers face in using dozens of different apps to run… Read more »
Melbourne-based proptech Listing Loop has closed the first tranche of its Series A, securing $2.1 million. Cofounder and CEO Rhett Dallwitz said the startup has more than 75% of its commitments and will finalise the balance of $500,000 over the coming weeks. “With a 174% YoY revenue growth, our company is at pivotal stage of… Read more »
Sydney satellite monitoring startup HEO Robotics has raised $12 million in a Series A two years after its last round. The raise was led by Sydney VC AirTree Ventures with support from the new $40 million sovereign capabilities early-stage fund Salus Ventures. Salus invest up to $1.5 million into initial rounds for cutting-edge tech for… Read more »
Silicon Quantum Computing (SQC) has trimmed its sails in an increasingly austere venture funding environment after setting out to raise $130 million, instead banking $50.4 million in a raise backed by existing investors the Australian government, Telstra, the Commonwealth Bank and University of NSW. Despite a dearth of capital, investors nonetheless saw opportunity in the… Read more »
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