3195 rounds · 2024 startups · 3707 investors
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Roundup of the week's five most-read manufacturing stories: a defence radio contract for Codan, university facility funding, a WEF white paper, ASCA missile-defence awards, and a port chair's farewell.
Education startup HEX has bought Sydney-based learning platform EntryLevel for an undisclosed amount, while securing another year of Atlassian Foundation backing and partnering with Toyota's trust on a STEM program for regional students.
Medow Health AI, a Sydney builder of AI copilots for specialist doctors, has secured $2 million, with most capital coming from clinicians, and eyes New Zealand expansion.
Levur, a Sydney biotech making a yeast-based substitute for palm oil, has taken out KPMG's Nature Positive Prize, with four other Australian startups sharing the advisory prize pool.
Blackbird's blog interviews Juno founder Michelle Gilmore about her AI conversation product, its early adopters, and the $2.8 million raised to scale it.
Roundup: Space Machines' joint India mission clears a design milestone with an $8.5m government grant behind it, RMIT and Skykraft scale up photonics-based navigation tech, and SunCable names a new group CEO.
ASCA has contracted two unnamed defence firms, one from Adelaide and one from Brisbane, to mature technology that degrades enemy air-defence systems, under a $61.5 million initial government investment.
Debt collection tech firm InDebted launches in Mexico alongside BNPL provider Aplazo; the piece also recalls its AUD$60m Series C raise from a mix of fresh and returning backers.
Square Peg's half-year letter to investors reviews 2024: $146m invested, $220m returned via five exits, fund value up to $3.25bn, plus portfolio raises at Rokt, Constantinople, Exodigo, Cuttable and Supabase.
Square Peg's half-year investor letter reviews 2024: portfolio growth, $220m returned across five exits, a Rokt secondary at a $3.5bn valuation, and recent raises at Constantinople, Exodigo, Cuttable and Supabase.
Also Square Peg Capital·SmartCompany·Startup Daily·SmartCompany·Australian FinTech·Forbes Australia·Dealroom·Dealroom
Wesfarmers is closing Catch, the online retailer it bought for $230 million in 2019, citing local ecommerce competition; the story also recalls Catch's venture backers and Little Birdie's $30m stake, pause and rescue.
Also Startup Daily
A Stanford study finds sodium-ion batteries are slower to challenge lithium on cost than hoped; the analysis surveys the field, including Australian battery maker PowerCap, after the Moss Landing battery fire.
Blackbird's note explains its decision to lead Clutch's $2 million pre-seed round, citing the fashion-glue brand's organic social growth, strong Priceline sales, and upcoming United States retail launch.
Roundup of short industry items: Element 25 and Vaxxas win US government grants, Orthocell gets an R&D refund, Convergence Medical completes its Series A, and Monique Conheady takes a Hysata board seat.
Also Startup Daily
Investors bought existing Rokt shares in a tender at a higher valuation; the piece also reports the mParticle acquisition, a board addition, and past raises.
Signalbase reports Fair Supply raised $12 million for its ESG supply-chain risk platform, and lists other recent funding rounds for Solcoa Industries, Mentoria Educação, snag, BlueSecure and WHEELMOVE.
Novonix's shareholder offer was heavily oversubscribed; after scaling back applications, the Brisbane battery materials maker banked $32.3 million to buy equipment for its Chattanooga plant serving Panasonic, Stellantis and PowerCo.
Roundup of three Australian raises — ElectraLith, Coposit and Convergence Medical — plus Quantum Brilliance naming its Series A backers and Rokt's secondary share sale.
Investor memo profiling Lyngo AI, a startup whose AI voice agents answer clinic calls and manage bookings, covering its Antler pre-seed backing, the founders' backgrounds, early traction, and growth plans.
StB Capital Partners' blog announces a tie-up between Evie Networks and RACQ giving members discounted EV charging, with the partners expecting Queensland bay numbers to rise 28% by May 2025.
Brisbane arthroscopic robotics maker Convergence Medical has raised a $5 million Series A from US backer Avicella Capital at a valuation topping $30 million, to commercialise its V01 robot in the US.
Also SmartCompany·@AuManufacturing·@AuManufacturing·podtail.nl·@AuManufacturing
Interview with Juno founder Michelle Gilmore on her AI listening engine, fifth venture and first external funding — $2.8 million with Blackbird's Nick Crocker leading — plus early customers.
Terem Capital's founder analyses Catapult: origins, acquisitions, capital raises, the 2014 listing, market size, rivals and financial performance.
Brisbane medtech Convergence Medical has closed a $5 million Series A with US backer Avicella Capital, valuing the surgical robot developer at $30 million as it prepares to commercialise and enter the US market.
Weekly agrifoodtech digest: Colossal Biosciences' mammoth-de-extinction raise, Formo's venture debt, NatureMetrics' Series B, Chipotle's corporate bets, two agri fund closes, two acquisitions, and a cultivated-meat startup's layoffs.
Breakthrough Victoria puts $2 million into ElectraLith, a Victorian startup whose lithium extraction technology was developed at Monash University, as part of a Series A led by Main Sequence.
An Australian business payments company has landed a 180 million Australian dollar investment to expand its product and support. Sidebar listings on the page note several other companies' fresh funding.
Main Sequence's post on leading ElectraLith's $27.5m Series A with Chevron, IP Group and other co-investors, backing its technology that turns lithium-bearing brines into battery-ready hydroxide in one step.
Also Radium Capital·Radium Capital·SmartCompany·Startup Daily·SmartCompany·RenewEconomy·RenewEconomy
WA's government has awarded $34 million from its Investment Attraction Fund to three decarbonisation projects: a Pilbara Minerals–Calix lithium plant, POSCO and Port Hedland Iron's briquetted iron venture, and International Graphite's Collie expansion.
Fair Supply, which scores supply-chain ESG risks, announced a round of over $12 million led by Five V Capital with AirTree and QIC, funding growth in Canada and Europe.
Peak beef lobby Cattle Australia attacks regulator FSANZ's draft labelling rules for fake meat; Vow, the Sydney firm behind a novel-food application, is cutting over 30 percent of its workers.
Brisbane surgical robotics company Convergence Medical has closed its Series A at AU$5 million from US backer Avicella Capital, valuing it above AU$30 million as it prepares to commercialise its arthroscopic robot VO1.
Supply-chain ESG compliance software firm Fair Supply has a new investment round led by Five V Capital with AirTree and QIC taking part, as it prepares to expand into Canada and Europe.
Diamond quantum hardware maker Quantum Brilliance announced a US$20 million Series A with Main Sequence, In-Q-Tel, Intervalley Ventures, NRFC and Breakthrough Victoria among its backers, to build a foundry and sensing prototypes.
Breakthrough Victoria's update describes its $2 million commitment to ElectraLith's Series A, led by Main Sequence, covering the lithium extractor's water-free refining technology, Monash ties, pilot plant plans and growing team.
Also Startup Daily
Former Skins chief Jaimie Fuller tells a podcast how a costly advertising-claims fight, a private equity deal and heavy buyout debt ended in the sportswear brand's bankruptcy.
Flinders University and start-up VAWT-X Energy will trial a 6kW next-generation vertical-axis turbine near Adelaide, hoping their design fixes aerodynamic flaws that held back earlier Darrieus-type machines.
Vulcan Energy Resources says it has made lithium fit for batteries in Europe using the earth's heat, an important step for its Lionheart project, which targets output for about 500,000 electric vehicles.
Vaxxas wins US$2 million as a concept-stage winner of BARDA's prize to advance its skin-patch vaccine platform with UQ's BASE facility; the article also recalls early backing by OneVentures, Brandon Capital and HealthCare Ventures.
Also Brandon BioCatalyst portfolio·Brandon Capital portfolio·Brandon BioCatalyst portfolio·@AuManufacturing·@AuManufacturing·Business News Australia
A fintech roundup: Bench's closure and sale to Employer.com, multiple acquisitions, fresh raises at Float Financial, Open Ledger, NomuPay and Buk, Robinhood's regulator settlement, and Groww's listing plans.
Raiz Invest has appointed Juliana Nguyen and Paul Rogan as non-executive directors effective 13 January 2025, each chairing a board committee; both bring financial services, marketing and wealth management experience.
Tennis Australia's venture arm AO Ventures has reached a first close on its new sports, media and health tech fund with about $49 million committed by local and international backers.
Banking Circle, a Luxembourg-licensed lender, is taking over Australian Settlements, which provides settlement services to Australian banks, pending regulatory approval, extending the buyer's local payments footprint.
Synthesis BioVentures' fourth newsletter covers its backing of Qubigen; the captured page holds only a title and date, with no further detail.
Employment Hero acquires Canada's Humi for $112m and, filings show, paid $43.4m for Ben Thompson's Employment Innovations; the story also recalls its 2023 Series F and investor clash.
Feature on three founder-mothers — Berwick, Battersby and Fulia — balancing startups and babies; Fulia's first round closed a million dollars above plan, with Blackbird among her investors.
Victorian epilepsy device maker Seer Medical has entered voluntary administration, with Pitcher Partners appointed amid a product recall and a cofounder's legal dispute; backers included Breakthrough Victoria and Cochlear.
Australian PE firm Quadrant has completed an oversubscribed close of its third growth vehicle, beating its target and topping its two predecessor funds, and will back companies in Australia and New Zealand.
Sitemate, which builds no-code platforms for construction, has closed a $27.5 million Series A with Blackbird leading and prior backers aboard; the story also recalls earlier raises and its buyout of fleet-management firm Nomad.
Brisbane hydration-wearable startup WearOptimo has secured $8m from Aspen Medical, ex-F1 driver Mark Webber and Adam MacDougall, and unveiled its new sensor manufacturing facility, supported by a federal grant of nearly $1m.