KKR ready to check out of $500m-plus boutique hostels-hotels biz Drifter

KKR has mandated Rothschild & Co to find a buyer for Drifter, a boutique hostel and hotel operator, in a sale process that could deliver upwards of $500 million.

Constantinople in stealth cash call, on fast track to unicorn status

Square Peg and Airtree Ventures led Constantinople's newly completed $62.5 million round, per Street Talk; backers expect another raise within a year, which would value the banking software firm near $1 billion.

Mesoblast completes treatment in pivotal low back pain trial as phase 3 readout approaches

Mesoblast has finished dosing all 350 patients in its phase 3 trial of rexlemestrocel-L for degenerative disc disease, with data due mid-2027 and a possible US biologics application to follow.

OncoSil secures FDA approval for targeted bile duct cancer device

Australian device maker OncoSil Medical has won US FDA humanitarian exemption approval for its targeted radiation treatment for unresectable distal bile duct cancer, opening a path to American commercialisation in financial year 2027.

Sarah Thompson

Street Talk roundup: Tasman Capital's new fund reaches first close, EQT buys control of an NRL club, KKR eyes a Drifter exit, PAG dealmakers jump to Jardine Matheson, Colter Bay lands a debut loan.

Also AFR Technology·AFR Technology·AFR Technology·Dealroom

Biotron advances hepatitis B candidate towards human trials after promising HBV and HDV results

Sydney biotech Biotron reports lab results showing its hepatitis B drug candidate works against HBV and HDV, and will begin formal preclinical studies ahead of planned human trials in 2027.

Brookfield takes another shot at Australia's Reliance with $2.9b bid

Brookfield has tabled a fourth, richer proposal for Reliance Worldwide, which opened its books; the plumbing group's profit slumped on tariffs and copper costs, and it has hired advisers to assess the approach.

Canva wipes $11 billion from its valuation, putting IPO plans in doubt

Blackbird and Airtree mark Canva's worth down sharply, the employee share price falls too, and commentators question whether a 2027 sharemarket float remains realistic amid sliding confidence in AI-era software.

Hotels customer acquisition platform Visaible.ai finds room for $1 million

Visaible.ai, a Sydney platform that helps hotels track and fix their visibility in AI search answers, has secured $1 million led by Blacksheep Capital to fund product development and overseas growth.

Also ontargetish.com·aipressroom.com·fundedstartupsdaily.com

Deep tech copper recovery startup Orivium seeks $30 million Series B

Melbourne deep tech company Orivium is seeking a Series B to commercialise its metal extraction process and has appointed ex-Lenovo chief Bill Amelio as global CEO, with Morgans as lead manager.

Behavioural intelligence firm Flowing Bee appoints Jonny Hanratty as head of applied research

Melbourne behavioural-intelligence startup Flowing Bee hires Jonny Hanratty from The Lab to lead applied research and strategy amid rapid growth; named backers include Archangel Ventures, Antler and LaunchVic's Alice Anderson Fund.

BizCover wins ANZIIF award for industry-leading service and technology

Insurtech BizCover has won a service excellence honour at ANZIIF's Australian insurance awards, which its chief executive Michael Gottlieb attributes to combining staff talent with innovative technology.

Briefcase appoints Michael Hasten as Head of Growth

Australian direct indexing fintech Briefcase has hired Michael Hasten, a veteran ANZ investment banker, as Head of Growth to broaden its tax-aware portfolio and ETF model services for advisers and wealth platforms.

Gamgee Raises $4M Seed - theunderbite.co

Veterinary biotech Gamgee has raised a four million dollar seed round led by Founders Fund, launching from Y Combinator to develop personalised mRNA cancer vaccines for dogs.

Also newshub.medianet.com.au·Dealroom·thesaasnews.com·kucoin.com

Meet Andy Laws, CEO of Access Telehealth

Bailador's blog points to the newest instalment of Access Telehealth's get-to-know-the-team video series, in which its chief executive discusses his background, motivation and working life at the healthcare company.

PE player Tasman Capital Partners hits first close for $200m fund

Street Talk reports buyout firm Tasman Capital Partners, founded by former Deutsche and Nikko operative Rob Nichols, has completed a first close on its fourth fund, sized at $200 million.

Also AFR Technology·AFR Technology·AFR Technology

How Heidi built production-ready AI for healthcare at global scale

A sponsored technical profile of Heidi, an Australian-founded medical AI scribe, describing its MongoDB-based data architecture, regionally isolated deployments, and clinician-facing products serving health systems worldwide.

Aravax Awarded FDA Fast Track Designation for PVX108

The US medicines regulator has granted Fast Track designation to Aravax's peanut-allergy immunotherapy PVX108, easing its development path; the Melbourne-based biotech expects Phase 2 data later in 2026.

Cerberus kicks off auction for $1b land lease player Lincoln Place

Cerberus Capital Management has instructed Goldman Sachs to launch an auction of Lincoln Place, its Australian land lease communities business, seeking a price above $1 billion after nearly a year of sale preparations.

Perth's Space Angel Awarded $1.75 Million To Progress WA's First Spaceport

Perth spaceport venture Space Angel has won Western Australia's entire $1.75 million spaceport establishment grant, to be paired with its own funds for assessing proposed launch sites and a commercial plan.

Also Startup Daily·Space Connect·The Urban Developer·SpaceNews

This Week in Australian Startups #174, 16th August 2026

Australian startups raised funds including Alloy Robotics, Farmbot and Atmo Biosciences. Firmus Technologies acquired Benmax while Tabcorp bought BetMakers. SafetyCulture rebranded to Mitti.

Sophiie AI raises A$5M seed to build an AI operating system for tradies

Australian trades-software startup Sophiie AI has secured A$5 million in seed capital, valuing it at A$30 million, with five backers on board as it relaunches its platform and eyes US expansion later in 2026.

Also Business News Australia·Startup Daily

The Biofilm Breakthrough: How An Australian BioTech Firm Is Tapping Indonesia's $45,000-a-Kitchen Bottleneck

Promotional profile of Altair International, an Australian deep-tech firm seeking capital on Wholesale Investor to commercialise biofilm-removing hygiene chemistry for Indonesian kitchens, Brunei manufacturing, and US defence and rail MRO markets.

Eaton Square Advises Convic on its Sale to Outside Ideas

Eaton Square announces its advisory role in Convic's completed sale to Outside Ideas, led by principal Maurice Spicer with KCL Partners and Sidcor supporting the transaction.

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.

Six biomedtech startups share $13.5 million in CUREator+ grants to fast-track health breakthroughs

Six Australian health tech startups received non-dilutive grants totaling $13.5 million from the government-backed CUREator+ program to accelerate commercialisation of medical innovations.

Sophiie AI

Profile of Sophiie AI, an AI platform handling calls and admin for service businesses, noting its Australian growth, US launch, Embark program participation, and $2.2 million raised from local backers.

Thrive Tribe raises $152,750 in quick share placement

Thrive Tribe Technologies raised $152,750 issuing shares to professional investors post-listing, with Clee Capital as lead manager; proceeds cover working capital and development of its Kumu platform.

Papyrus lines up A$500K in convertible loans to fund fibre push

Papyrus Australia has arranged four unsecured loans worth up to A$500,000 from professional investors, with L39 Capital brokering the introductions for a fee, on top of a similar facility disclosed in December 2025.

Galilee Energy raises A$3.5m to drill Louisiana well and pivot to US Gulf Coast

Australian-listed explorer Galilee Energy has secured A$3.5 million in placement commitments to fund further drilling at its Louisiana well while planning to shed its Glenaras project and refocus on the US Gulf Coast.

The Biofilm Breakthrough: Altair's $45k-a-Kitchen Indonesian Opportunity

Wholesale Investor profiles Altair International, an Australian hygiene-tech firm seeking capital to supply Indonesia's mass school-meal kitchen rollout, partnering through Brunei manufacturing and an Indonesian cooperative JV, with planned US defence and rail expansion.

Canva’s big backers slash $10b from software giant amid AI pivot

Blackbird Ventures and Airtree reduced Canva's valuation by ten billion dollars as the design platform faces challenges integrating artificial intelligence tools.

Canva investors wipe $10b from valuation

Blackbird and Airtree have marked down their Canva holdings by a combined figure above $10 billion, exceeded by Canva's own internal write-down, after the company lowered its growth outlook on rising AI costs.

Pepperstone appoints Nigel Fernandes as Chief Technology Officer

Online trading firm Pepperstone has hired Xero engineering leader Nigel Fernandes as its new technology chief, to oversee engineering, architecture, security and data worldwide from its Melbourne base.

Lextech appoints Mark Humphries as Chief Product & Technology Officer

Mortgage law firm Lextech has named a long-serving Computershare technology leader as its new product and technology chief, as the firm pushes an AI-native platform strategy for Australian lenders.

Big, four-hour battery that survived long-distance objectors hits financial close, moves to construction

Acenergy's 250 MW Yanco battery in NSW has been bought by UK-based BW ESS and has secured financing, with construction due to begin this year and operations targeted for 2028; CATL is system integrator.

Also RenewEconomy

Queensland Minister for Primary Industries Visits Nbryo committing to a $2 million investment | 11 August 2026

Queensland's agriculture minister toured Nbryo's Brisbane lab, with a state-backed fund committing $2 million to the cattle-genetics company; the page also recalls earlier $10 million and $8 million closes.

Why long-horizon innovation needs more than good ideas

An analysis of what Australian long-horizon research commercialisation requires, citing Gilmour Space, Cochlear and BluGlass as illustrations of patient capital and ecosystem support needs.

Brandon BioCatalyst's CUREator+ distributes $13.5M in grants

Six Australian biomedical and health ventures receive a combined $13.5 million in non-dilutive grants through round two of the CUREator+ commercialisation program operated by Brandon BioCatalyst and backed by the Medical Research Future Fund.

Also Dealroom

PM Capital's global fund raises A$221M in upsized placement

ASX-listed PM Capital Global Opportunities Fund raised about A$221 million through a share issue priced at A$3.07, with a shareholder purchase plan to follow; its chair expects greater scale and liquidity.

Critical Infrastructure arranges C$1M placement in quick re-raise

RLF AgTech raises AUD 3.9M to fund Australian growth push

Australia's Visaible raises $1M to help hotels win AI bookings

Hotel-tech startup Visaible has raised roughly A$1 million in an early-stage round to expand a platform that tracks how AI assistants recommend hotels and turns that visibility into direct bookings.

Canadian pensions giant PSP cooks up bid for Inghams

PSP Investments has engaged Barrenjoey Capital Partners as it prepares a possible takeover proposal for ASX-listed poultry company Inghams, but has not yet approached the board chaired by Helen Nash.

Centuria-backed ResetData secures AI data centre capacity

ResetData, half-owned by Centuria, has lined up data centre capacity from CDC, secured 72MW of power, and locked in $165m of Macquarie debt for GPU deployment.

AgriFood Signals: Ranch tech startup Ranchbot nets $15m, Target hires chief AI officer, plant cell culture megadeal

AgFunderNews roundup of agrifood funding raises, executive appointments, shutdowns and partnerships, including Ranchbot's Series B, ClimateAi and Cultimate shutting down, and Novonesis seeking sole control of MicroBioGen.

CUREator+ backs six Australian startups with $13.5 million to advance new health technologies

Six Australian health tech startups received a combined $13.5 million in non-dilutive funding from the CUREator+ program, supported by the Australian Government.

Our Investment in Bower | The AI Research Partner for Scientists

Ten13 led Bower's A$2m pre-seed round for a voice-first AI assistant that helps scientists capture lab observations hands-free, founded by a four-person team with backgrounds at Microsoft, Google and Atlassian.

Also Startup Daily

Bids for unicorn Employment Hero test $2b value in Seek sell-off

Bids for Seek's stake in HR software firm Employment Hero point to a resilient valuation, while Seek prepares to hand shareholders proceeds from selling a billion dollars of startup holdings.

Australia’s ADHD system made him ‘snap’. Now he’s raised millions to build a new one

Zac Altman’s ADHD telehealth startup Kantoko has secured $3.5 million in a Side Stage Ventures-led seed round, with Andrew Forrest’s Tenmile and Go1’s founders investing; the article also recalls his earlier ventures’ sales.

Also Dealroom·Startup Daily·Business News Australia·SmartCompany