Startup
Explosives detection startup whose handheld mine detector uses MR sensing to detect RDX
Every investor coverage indicates participated in a round MRead raised.
Investors whose own portfolio pages list MRead, even though we haven't found any coverage of the round yet.
| Investor | Listed on |
|---|---|
| RFC Ambrian Funds Manage | its portfolio page ↗ |
The transaction that ended MRead's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
| Bought by | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| MagnaTerra Technologies | Merger | 4 Jul 2025 | - | Startup Daily, SmartCompany |
Companies MRead 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 |
|---|---|---|
| John Shanahan | CEO (former) | Startup Daily (4 Jul 2025), RFC Ambrian Funds Manage portfolio, Startup Daily (4 Apr 2023) |
| Rob Adamson | Chairman | RFC Ambrian Funds Manage portfolio |
Stories naming MRead. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Roundup of four Australian raises: MagnaTerra formed from a CSIRO merger, Mobile Tyre Shop backed by Sailun, Coinstash's Series A, and MogoPlus funded by New Model Venture Capital.
Also Startup Daily·Australian FinTech·Startup Daily·SmartCompany
RFC Ambrian recounts forming MRead with CSIRO to adapt magnetic resonance sensing for explosive and drug detection, including a seed round completed in late 2022-early 2023 with strategic investment from Codan's Minelab division.
MRead, a landmine-detection venture launched by CSIRO and RFC Ambrian with Codan also investing, has raised a seed round of undisclosed size to advance its handheld explosive detectors.
Also Startup Daily