The 8 Australian startups on Forbes Asia's 100 To Watch list
Eight Australian companies make Forbes Asia's annual 100 To Watch list; the piece profiles each and recaps recent raises across climate tech, health and software.
Venture capital fund · 17 deals
Hong Kong, OS
Every published round Horizons Ventures 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.
Companies Horizons Ventures has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Cauldron Ferm | Deep tech startup using hyper-fermentation to produce proteins, materials and chemicals w… | Mar 2026, Series A | 2 | 0 |
| Fleet Space Technologies | nano satellite startup | 2021, Series B | 3 | 0 |
| Loam | 16 Feb 2023, Series B | 1 | 0 | |
| Loam Bio | Agtech company developing microbial soil-carbon technology and farmer carbon projects | 13 Feb 2023, Series B | 1 | 0 |
| Prospection | 15 Sep 2021, Series B | 1 | 0 | |
| Q-CTRL | Sep 2019, Series A | 1 | 0 | |
| Cortical Labs | synthetic biology startup | 20 Apr 2023 | 1 | 1 |
| Fertilis | 11 Jan 2022, Seed | 1 | 1 | |
| Harrison AI | healthcare AI company | 2019, Series A | 2 | 1 |
| Nourish Ingredients | Brews sustainable and animal-free fats and oils for alternative protein products | 1Q 2021, Seed | 2 | 1 |
| Cauldron | 28 Mar 2023, Seed | 2 | 2 |
Fund closes reported for Horizons Ventures, as distinct from the investments it has made.
Companies Horizons Ventures has backed that another company then bought. An exit for the holding, not a deal Horizons Ventures did.
| Name | Role | Sources |
|---|---|---|
| Chris Liu | Investor | AgFunderNews, TechCrunch Australia |
| Jonathan Tam | Startup Daily, TechCrunch Venture | |
| Li Ka-shing | Founder | Startup Daily, SmartCompany, Forbes Australia, TechCrunch Australia |
Stories naming Horizons Ventures. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Eight Australian companies make Forbes Asia's annual 100 To Watch list; the piece profiles each and recaps recent raises across climate tech, health and software.
Biomanufacturer Cauldron Ferm has banked a $19 million Series A2, led by Main Sequence with Horizons, SOSV and NGS Super aboard, adding to an earlier $9.5 million round and a $4.3 million federal grant.
Also Startup Daily
Harrison.ai has received $32 million from the National Reconstruction Fund Corporation toward its Series C, with the federal investor's December backing of Vault Cloud, Myriota and Quantum Brilliance also noted.
Year-end roundup ranking 2024's twelve largest startup raises, headed by PsiQuantum's $940 million government-backed quantum computing round, plus Guzman y Gomez's ASX listing and Betashares' Temasek investment.
Adelaide satellite company Fleet Space has banked a $100 million Series D, with Teachers' Venture Growth leading and a $525 million valuation, to grow ExoSphere, its space-based mineral exploration platform.
Fleet Space Technologies has secured $150 million in a Series D round led by a Canadian pension fund, with existing backers Blackbird Ventures, Hostplus and Horizons Ventures also participating.
Satellite company Fleet Space has closed a Series D backed by Teachers' Venture Growth and prior backers, lifting its valuation past $800 million, with proceeds earmarked for its mineral-exploration platform.
Also Space Connect·spaceanddefense.io·aap.com.au·@AuManufacturing·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Startup Daily·Space Connect·@AuManufacturing·Forbes Australia
Precision fermentation firm Cauldron wins an Australian government grant for its continuous fermentation platform and appoints David Weiner chief technology officer, alongside mentions of fellow grant recipients and its Horizons Ventures-led Series A.
Also SmartCompany·SmartCompany
A weekly roundup detailing five raises across Australia and New Zealand: Marmalade, Cauldron, Prophet, Hola Health and Buddy, naming amounts, lead backers and founders.
An Australian precision fermentation maker has banked a Horizons Ventures-led series A to grow its continuous fermentation capacity, with SOSV, In-Q-Tel and Main Sequence also backing the round.
Also SmartCompany·Startup Daily·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·AgFunderNews
Year-end Crunchbase column recapping five distinctive 2023 raises: Cortical Labs, Forward, Neura Robotics, KoBold Metals and Living Carbon, with amounts, backers and one stated valuation.
Also TechCrunch Australia
Three Australian companies — Fleet Space Technologies, MoreGoodDays and Syneta — feature on Forbes Asia's 100 to Watch list; the piece profiles each business, its backers and recent raises.
Australian precision fermentation startup Nourish Ingredients secures government funding and grants, recalls its Series A, and outlines plans to launch its first animal-like fat in late 2024.
Also AgFunderNews
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.
A monthly Crunchbase roundup of five overlooked venture rounds, including raises by ChopValue, Australia's Cortical Labs, Harvey, Sepura Home and Ebb Carbon, with lead investors and amounts for each deal.
Also Crunchbase News
Melbourne synthetic biology company Cortical Labs has secured US$10 million (A$15 million), led by Horizons Ventures with four co-investors, to advance its brain-cell computing platform commercially and meet pre-orders.
Also TechCrunch Australia·Forbes Australia·SmartCompany·Forbes Australia·Crunchbase News·Crunchbase News
Weekly agrifoodtech roundup reporting funding for Momofuku Goods, STEER, Cauldron, EV Biotech, Extracellular, Quisto, Local Bounti and Agreena, the shutdown of New Age Eats, and partnership and product news including Vow's mammoth meatball.
Also AgFunderNews
Regional NSW precision fermentation startup Cauldron has raised a $10.5 million seed round led by Main Sequence Ventures, following an earlier Queensland government investment, to expand its pilot facilities.
Also Women's Agenda·@AuManufacturing·AgFunderNews·SmartCompany·AgFunderNews·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·Startup Daily·SmartCompany
Agtech startup Loam has raised a $105 million Series B co-led by Lowercarbon Capital and Wollemi Capital, following a $40 million Series A, to commercialise its soil-carbon technology.
Weekly agrifoodtech roundup reporting funding rounds for alternative fat and agtech startups, acquisitions including Kroger's purchase of Albertsons, and other sector news such as Beyond Meat's job cuts.
Animal-free fat maker Nourish Ingredients closed a Series A backed by Horizons Ventures, Main Sequence Ventures and Hostplus, adding to an earlier raise as it scales precision fermentation production.
Also SmartCompany·Startup Daily·AgFunderNews·Techboard·SmartCompany·AgFunderNews·Forbes Australia·@AuManufacturing·@AuManufacturing·@AuManufacturing·@AuManufacturing
Advanced Navigation, with Malcolm Turnbull on its board, is seeking $80-135 million; the piece recalls its 2019 $20 million Series A and Minderoo's strategic investment.
Also @AuManufacturing·SmartCompany·SmartCompany·Forbes Australia
Adelaide IVF device startup Fertilis secured a seed round led by Horizons Ventures to advance clinical trials and commercialise its embryo-culturing cradle devices.
Also Forbes Australia
Australian health-data analytics firm Prospection has closed a $45 million Series B, cornerstoned by Ellerston JAADE with Main Sequence and Horizons Ventures participating; its $10 million Series A dates to February 2020.
Prospection's $45 million Series B has Ellerston Capital's JAADE fund as cornerstone investor with $30 million, while existing shareholders Main Sequence Ventures and Horizons Ventures also backed the healthcare data company.
Australia's Main Sequence has pulled in A$250 million for its second deep tech fund, with existing backers returning and a sharpened emphasis on decarbonisation investments.