News
Me&u takes on American Express and DoorDash as it eyes first profitable year
Me&u launches a new AI-powered reservations platform to compete with Resy and SevenRooms, targeting profitability in 2026 after merging with Mr Yum.
Venture capital fund · 12 deals
Acorn Capital
Melbourne, VIC
Disclosed deals
Every published round Acorn Capital took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Portfolio
Companies Acorn Capital has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Complexica Pty Ltd | a leading provider of Artificial Intelligence software for optimising sales, marketing, a… | 29 May 2023 | 1 | 0 |
| Conflux | Company developing heat exchangers for aerospace fuel cell systems with Airbus | 29 Oct 2021, Series A | 2 | 0 |
| Elenium Automation | 3 Dec 2021 | 1 | 0 | |
| ImmVirX | biotech startup | May 2021, Seed | 1 | 1 |
| Liquid Instruments | Maker of reconfigurable measurement devices originating from ANU research | Sep 2022, Series C | 3 | 1 |
| Marketplacer | Nov 2021 | 1 | 0 | |
| Me&U | 2Q 2023, Series C | 1 | 0 | |
| Mx51 | Payments fintech | 19 Jul 2022, Series B | 1 | 0 |
| Rich Data Co | 6 Aug 2024, Series B | 1 | 1 |
From its portfolio page
Companies Acorn Capital's own portfolio page lists that no published round yet places it in. The page is the source; the round is being looked for.
| Company | Site |
|---|---|
| Acorn Capital Funds | investorserve.com.au ↗ |
| Acorn Capital Micro Opportunities Fund | boardroomlimited.com.au ↗ |
| ACQ | www-au.computershare.com ↗ |
| www.acorncapital.com.au | aus01.safelinks.protection.outlook.com ↗ |
Funds
Fund closes reported for Acorn Capital, as distinct from the investments it has made.
Portfolio companies acquired
Companies Acorn Capital has backed that another company then bought. An exit for the holding, not a deal Acorn Capital did.
People
| Name | Role | Sources |
|---|---|---|
| Robert Routley | Chief Executive Officer | Startup Daily, Acorn Capital team page |
| Andrew Burt | INVESTMENT DIRECTOR | Australian FinTech, Acorn Capital team page |
| Matt Sheehan | Investment Director | Startup Daily, complexica.com |
Coverage
Stories naming Acorn Capital. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Funding announcement
Verona Capital buys control of Dredge Robotics in 3.4x exit for Acorn
Perth family office Verona Capital has bought majority control of mining-robotics maker Dredge Robotics, giving early investor Acorn Capital a 3.4x return, while the founders retain significant stakes and stay in charge.
5 deals
Four ANZ startups that raised $26.9 million this week
Weekly roundup of four ANZ raises: Conflux Technology's $11 million Series B, BuildPass's $7.5 million seed, Projectworks's US$5 million Series A alongside a CEO change, and DNAiTECH's NZ$1 million round.
Also Startup Daily
Series B
$11m
Conflux Technology secures $11 million in Series B round
Heat exchanger maker Conflux Technology has banked an $11 million Series B, fronted by Breakthrough Victoria's $5 million pledge and supported by AM Ventures and Acorn Capital, to speed product development and expand offshore.
11 deals
Seven Aussie startups that raised $45.6 million this fortnight
Roundup covering seven Australian companies' recent raises — Splend, Rich Data Co, Slice, InvestorHub, Eyeonic, Graceview and Monty Compost Co — from fleet electrification finance to AI compliance and compost-monitoring seed rounds.
2 deals
Leading AI decisioning platform provider Rich Data Co secures further $9 million in funding from Acorn Capital
AI decisioning firm Rich Data Co has landed $9 million from Acorn Capital, lifting its Series B to $37 million, as it pushes into North America after signing its first US bank customer.
Also SmartCompany
3 deals
Canberra-born startup Liquid Instruments scores $15 million from Breakthrough Victoria
Victorian government-backed investor Breakthrough Victoria has put $15 million into Liquid Instruments, a maker of reconfigurable instruments expanding to Melbourne; earlier raises by Acorn Capital and Anzu Partners are also recalled.
Also SmartCompany
13 deals
Nine Aussie startups that raised $233.5 million this week
Weekly roundup of nine Australian startups that together raised over $233 million, led by Hysata's $172 million Series B, with rounds also for V2 Digital, AgriWebb, Disco, Genero, Brainfish, Kite Therapy, Nucanon and Maslow.
Unnamed stage
$6.5m
Acorn Capital Invests $6.5 million into Complexica, Pushing Total Funds Raised Past $31 Million
Venture investor Acorn Capital's $6.5 million investment in AI software vendor Complexica lifts outside backing past $31 million since 2021, adding the fund manager to an institutional shareholder register.
Also Startup Daily
10 deals
The Week in AgriFoodTech: Restaurant order app me&u bagged $30m, Remilk approved for Israeli markets, biomaterials bonanza
Weekly roundup reporting me&u's Series C, several agrifoodtech fundraises across Europe, Danone's stake in Imagindairy, Remilk's Israeli approval, plus partnerships, launches and layoffs.
Funding announcement
Melt Ventures launches $20 million Advanced Manufacturing Venture Fund
Melt Ventures launched an advanced manufacturing venture fund expecting first close soon and targeting $20 million by March 2023; the piece also recalls earlier backing of Camplify, Gamurs, Greaseboss and other companies.
17 deals
CTV Funding News - July 2022
Cut Through Venture's August update rounds up July 2022 Australian startup funding, listing raises from Mx51 to WeMoney, Startmate's newest cohort of twelve, and the beta launch of its investor search tool.
Also Techboard
8 deals
HIVERY, mx51, Refundid, and more: Local startups raise over $100 million in recent weeks despite market fearmongering
A roundup of Australian startups that raised funds in recent weeks: mx51, Refundid, Storipress, HIVERY, InternMatch, upcover, Pearler and Loopit together secured over $100 million despite a cooling venture market.
Also Cut Through Venture
2 deals
Fintech mx51 raises $32.5 million Series B for global plans
Payments company mx51 has closed a Series B round of $32.5 million with existing backers participating, after an undisclosed lead investor, and plans to expand in Australia and internationally.
Also Australian FinTech·SmartCompany·Cut Through Venture·Startup Daily
3 deals
Marketplacer just raised another $38 million, says it's still thinking about an IPO
Marketplacer has banked a fresh $38 million injection from first-time and returning backers after a mooted 2021 float failed to proceed, with the money earmarked for growth in America and product development.
3 deals
Touchless tech startup Elenium Automation bags $10 million raise
Melbourne biometric access startup Elenium Automation raised A$10 million led by Thorney Investment Group with NRMA and Acorn Capital, and appointed Paula Dwyer as chair ahead of rolling out its Faceway product.
Series A
$8.5m
Conflux Technology raises $8.5m to expand
Geelong metal additive manufacturing firm Conflux has raised $8.5 million in a Series A backed by AM Ventures and Acorn Capital to expand capacity, equipment and production capability.