Startup · $14.8m raised · Energy
Major Australian energy retailer
Every investor coverage indicates participated in a round AGL raised.
| Investor | Rounds | Invested |
|---|---|---|
| Australian Renewable Energy Agency | Grant | $14,800,000 |
| Australian Renewable Energy Agency (ARENA) | Grant | - |
Every published round AGL 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.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Honey Insurance | Seed | 2021 | $15.5m | Participant | Forbes Australia, SmartCompany |
Companies AGL has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Honey Insurance | Insurance company | 2021, Seed | 1 | 0 |
Fund closes reported for AGL, as distinct from the investments it has made.
Companies AGL has backed that another company then bought. An exit for the holding, not a deal AGL did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| No portfolio company of AGL is recorded as having been acquired. | ||||
Companies AGL acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Name | Role | Sources |
|---|---|---|
| Damien Nicks | CEO (former) | Startup Daily, RenewEconomy |
| Markus Brokhof | Chief Operating Officer | ARENA |
| Michelle Wood | Executive General Manager Corporate Affairs (former) | Bondi Partners portfolio |
| Travis Hughes | Head of Power Development | RenewEconomy (9 Oct 2025), RenewEconomy (6 Dec 2023) |
| Julia Lu | Head of Strategy and Venture Design | Women's Agenda |
Stories naming AGL. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Consulting group Sia has bought Seven Consulting, an Australian transformation consultancy, adding Sydney and Melbourne offices, a Perth presence and major clients across banking, government and retail.
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Renewable utility Zen Energy has entered voluntary administration despite regulators clearing Gunvor to buy its retail business; McGrathNicol is administrator and customers moved to AGL.
Competition regulator approval lets Swiss trading giant Gunvor proceed with buying Zen Energy's retail arm and power purchase agreements; terms undisclosed. Article weighs whether the newcomer will challenge Australia's dominant gen-tailers.
The competition regulator has cleared Swiss trader Gunvor to buy Zen Energy's retail arm and linked PPAs; terms undisclosed. The article asks whether the deep-pocketed newcomer will challenge Australia's big three gen-tailers.
Singapore state-owned Sembcorp has bought Alinta Energy, owner of Victoria's Loy Yang B coal generator, for $6.5 billion, with no early closure planned; its remote energy assets were recently sold to APA.
Singapore state-owned Sembcorp has acquired Alinta Energy, which owns the Loy Yang B power station in Victoria, for $6.5 billion. Jeff Dimery remains chief executive and no early closure is planned.
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Breakthrough Victoria's CEO reviews its 2024/25 year: growing capital base, strong co-investment leverage, portfolio milestones including Amber's $10m raise, first fellows awarded, and projected economic impact ahead.
Canberra will open a second $150 million Solar Sunshot round for PV component makers, while recapping earlier awards to 5B, Tindo Solar, Stellar PV, Solquartz and Energus.
ARENA grants $34.5 million to solar module maker Tindo and $11 million across Solquartz, Energus and Stellar PV for polysilicon feasibility studies under the federal Solar Sunshot program.
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EVP explains its decision to back Termina, whose software pools small businesses' energy purchasing to cut costs and emissions, citing traction across thousands of meters and its founding team.
Orkestra, a Melbourne clean-energy software firm, won $2.77 million in ARENA co-funding to accelerate commercial EV charger rollout; a year earlier it banked $2 million in seed funding from Tidal Ventures.
RenewEconomy reports renewables retailer Maximum Energy, trading as Circular Energy, was suspended and wound up, its customers moved to big-three retailers; it also recalls earlier retailer collapses and Oxamii's seed backing.
Australian insurtech momentum examined: Honey Insurance's Series A and Cover Genius's raise led Q2 2024 funding, while an Airtree partner argues incumbents have left insurance open to technology-driven challengers.
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RayGen has banked a $51 million Series D round backed by SLB and Breakthrough Victoria, and signed an expansion pact with SLB; ARENA previously granted it $10 million and $15 million.
Home insurer Honey Insurance has raised a $108 million Series A led by US firm Gallatin Point Capital, following a seed round backed by RACQ, AGL, Metricon, Mirvac and PEXA.
Superloop's board has rejected Aussie Broadband's merger proposal as too low, with Aussie already holding a 19.9% stake; the piece also recalls Superloop's VostroNet purchase and Aussie's Symbio buyout.
Origin's 300 MW Mortlake battery moves ahead with Fluence as EPC contractor, backed by up to $24 million from ARENA; five of eight projects under its funding round are now committed.
Akaysha Energy has given final approval to its Brendale battery beside a Brisbane sewage plant and flagged another huge battery near Gladstone.
The government renewable energy agency is granting millions to a metering company for a platform that aggregates household energy devices into flexible demand across the national grid.
A rolling roundup of Australian energy-sector job moves, listing dozens of executives, directors and ministers joining or leaving utilities, regulators, developers and industry bodies between May and December 2023.
Profile of Pendula, whose AI-driven platform personalises upselling for telcos and insurers, as it prepares a takeover offer for ASX-listed Whispir, whose board urged rejecting Soprano Design's bid.
Battery firm Akaysha expects four-hour storage to become standard in Australia now that its Orana project has won a national underwriting auction; the piece also recalls BlackRock's 2022 acquisition of the company.
Manufacturing briefs: XRF Scientific posts record results, Universal Biosensors receives an R&D tax rebate, Imugene and SMC appoint executives, FWPA promotes forestry in a new campaign, and AGL agrees a Loy Yang transition fund.
Ex-Clean Energy Finance Corporation chief Oliver Yates becomes chair of battery developer GMR Energy, which last year acquired Maoneng's storage portfolio and is advancing a grid-scale battery in Victoria with AusNet.
Joe Hockey's advisory firm Bondi Partners hires AGL corporate affairs executive Michelle Wood to head its Sydney operation; the column also names clients Bubs, Digicel and Blackstone and a recent London opening.
Feature on tech startups thriving outside Australian capitals, recording Cauldron's seed raise and government backing, with views from investors and founders at regional companies.
Brookfield and MidOcean have lowered their bid for Origin Energy to $8.90 a share, which the target's board is prepared to back; the flagged $20 billion renewables spend is still only an intention.
ARENA announced funding for Edify Energy's advanced-inverter battery beside its Darlington Point solar farm in NSW, expanded to 150 MW, with the NSW Government adding money under its Emerging Energy Program.
SourseAI has promoted Tanya Hyams-Young from product chief to chief executive, with Matt Jones shifting to a revenue role while keeping his director seat, as the founding team turns to European growth.
Twelve big battery projects have been shortlisted to apply for a federal renewable agency's grid-scale storage grants, while the agency's earlier backing of grid-forming batteries, including one at Broken Hill, is recalled.
Preview of the Startup Daily TV podcast covering a bid against AGL's demerger, reproductive-rights tech policy, VC conversations, a fintech fund raise, and interviews with Skedulo, Good & Fugly and One Key Access founders.
The Australian Renewable Energy Agency is giving AGL $14.84 million toward a grid-forming battery at Broken Hill, with Fluence and Valmec supplying the system for a $41 million demonstration project due in 2023.
Also RenewEconomy
Sun Cable has raised A$210 million in Series B funding from existing shareholders, led by Mike Cannon-Brookes' Grok Ventures and Andrew Forrest's Squadron Energy, for its giant solar, battery and subsea cable project.
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A Climate Salad community leader argues climate tech keeps booming, citing global investment data and listing recent raises by member startups FloodMapp, Gridcognition, Accurassi, Trace, Cecil and World's Biggest Garage Sale.
Ignition Lane's weekly technology roundup: climate-tech funding activity, Grok's bid for AGL, King River Capital's digital asset fund, a batch of Australian startup raises, Maropost acquisitions, GigSuper's collapse and a National AI Centre appointment.
Atlassian's Cannon-Brookes, via his family firm Grok Ventures, has invested $200 million in renewables project financier Infradebt days after his AGL bid was rejected; the capital is already funding a Queensland battery project.
Melbourne car subscription startup Carbar has raised $28.9 million led by insurer IAG and Seven West Media, following a 2019 raise, to fund marketing, partnerships, technology and growth of its electric vehicle fleet.
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