Government · 25 deals
Canberra, ACT
Every published round National Reconstruction Fund Corporation 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 National Reconstruction Fund Corporation has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Advanced Navigation | Navigation technology company using AI, robotics and sensing for GPS-independent position… | 2022, undisclosed | 3 | 0 |
| Harrison AI | healthcare AI company | 2025, Series C | 2 | 0 |
| HEO | 21 Sep 2026, Series B | 1 | 0 | |
| HEO Robotics | 21 Sep 2026, Series B | 1 | 0 | |
| Hypersonix | 2025, Series A | 1 | 0 | |
| Hypersonix Launch Systems | 28 Oct 2025, Series A | 1 | 0 | |
| Morse Micro | Hardware/Robotics/IoT company | Sep 2025, Series C | 1 | 0 |
| Quantum Brilliance | Quantum computing company that installed QPUs at Oak Ridge National Laboratory | 10 Dec 2024, Series A | 3 | 0 |
| QuintessenceLabs | Quantum physics data security tools | 31 Mar 2025 | 1 | 0 |
| Russell Mineral Equipment | Legacy mining equipment manufacturer | 23 Nov 2024 | 1 | 0 |
| Southern Launch | South Australian rocket launchpad and spaceport operator | 4 Aug 2026, Series A | 1 | 0 |
| Gilmour Space | Queensland rocket builder and launchpad scaleup | Jun 2021, Series C | 2 | 1 |
| Global Resource Recovery | 11 Sep 2026, Venture debt | 1 | 1 | |
| Myriota | Apr 2020, Series B | 2 | 1 | |
| Polyactiva | Developing a glaucoma treatment | 30 May 2025, Series C | 1 | 1 |
| Vault Cloud | 20 Dec 2024, Series B | 1 | 1 | |
| Liquid Instruments | Maker of reconfigurable measurement devices originating from ANU research | 2026, Series C | 2 | 2 |
Fund closes reported for National Reconstruction Fund Corporation, as distinct from the investments it has made.
Companies National Reconstruction Fund Corporation has backed that another company then bought. An exit for the holding, not a deal National Reconstruction Fund Corporation did.
Stories naming National Reconstruction Fund Corporation. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Beaten Zone Venture Partners led a US$25 million Series B in HEO Robotics, which images other spacecraft, with the NRFC contributing $10 million; the piece also recalls earlier Series A and seed rounds.
The NRFC has lent Global Resource Recovery $55 million in debt funding to expand its Darwin chemical recycling facilities, with the project forecast to create 115 temporary and 11 full-time jobs.
Gilmour Space and Hypersonix have signed a partnership to offer hypersonic flight testing, combining rocket launch and scramjet technology, announced at a National Reconstruction Fund event in Canberra to build sovereign capability.
The federal NRFC has lent $120 million to prefab apartment maker Built Living, which has also drawn $100 million equity from Wesfarmers and a $20 million WA government grant.
A monthly Crunchbase roundup of five lesser-known AI funding deals: Greyparrot's Series B, Emesent's equity-plus-debt package, SoundHealth's Series A, Forge Industries' round and Cascade's seed raise.
Sydney navigation startup Advanced Navigation raised a large Series C led by Airtree Ventures, with Quadrant Private Equity and NRFC, to expand PNT technology globally.
A directory of fifteen Canberra investors backing deep tech, noting ACTivate Capital's fund first close, several government-backed company raises, an incubator's alumni, and one portfolio acquisition.
Arafura, partly owned by renewables critic Gina Rinehart, has finalised financing for its Northern Territory rare earths mine, with $1.2 billion in government support and wind turbine and EV makers as customers.
Arafura Rare Earths, part-owned by renewables critic Gina Rinehart, has locked in financing for its Nolans project, drawing roughly $1.2 billion in Australian and German government support despite her anti-net-zero campaigning.
Analysis of Liquid Instruments' $50m Series C, whose co-leads were Keysight and Australia's NRF, examining defense-tech capital trends alongside comparable 2026 hardware raises.
Retrospective on Liquid Instruments, the Canberra-born software-defined test instrument maker, which has closed a fifty-million-US-dollar Series C co-led by the reconstruction fund and Keysight, with Significant Ventures among existing investors.
Also Breakthrough Victoria·Breakthrough Victoria·Breakthrough Victoria·Breakthrough Victoria·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Cut Through Venture·Startup Daily
Liquid Instruments has raised a $50m Series C for its reconfigurable testing hardware, co-led by Australia's National Reconstruction Fund Corporation and Keysight Technologies; proceeds go to AI development and aerospace, defence and chip markets.
Mobility newsletter roundup: Uber's robotaxi deal with Rivian, Nvidia's automaker partnerships, Advanced Navigation's Series C, other startup raises, and acquisitions including Amazon's purchase of robotics startup Rivr.
Funding wrap: Advanced Navigation lands a $158m Series C for GPS-free navigation, legal AI platform MiAI Law launches with $2m, and Deftbiotech raises $1m pre-seed toward a fungal nail treatment.
A roundup of three raises: Advanced Navigation's $158 million Series C, legal AI platform MiAI Law's $2 million launch funding, and Deftbiotech's $1 million pre-seed for a fungal nail treatment.
Navigation technology firm Advanced Navigation has banked a $158 million Series C, with Airtree leading and Quadrant plus the NRFC taking part, funding global expansion and Australian manufacturing scale-up.
Also Dealroom·Tech Funding News - Australia·SmartCompany·Startup Daily·SmartCompany·Forbes Australia
Australia's National Reconstruction Fund has put $30.7 million into Melbourne autonomous vehicle maker Applied EV as the largest slice of a US$40 million Series B alongside Barrenjoey and Japan Post Capital.
Roundup of four ANZ raises: a Queensland rocket company's nine-figure Series E, a New Zealand legal-AI firm's Series B, a seed round for AI code-security, and a Melbourne construction-software raise.
Roundup of four ANZ raises totalling over $307m: Gilmour Space's Series E, Ivo's Series B, Dam Secure's seed round and SPEC Toolbox's pre-Series A, plus a board appointment at Dam Secure.
Beaten Zone's blog touts Australia's space sector, citing CEO Steve Baxter and reporting Gilmour Space Technologies' $217 million Series E from National Reconstruction Fund Corporation and Hostplus, plus its investments in HEO and Zendir.
Also SmartCompany·Dealroom·SmartCompany·SmartCompany·Startup Daily·Business News Australia
Weekly funding roundup covering eight raises totalling over $113 million across aerospace, biotech, materials, health and software, plus a pharmacy firm's acquisition out of administration.
Weekly roundup of eight trans-Tasman startup raises worth a combined $113 million-plus, alongside Joe Zhou's buyout of StrongRoom AI from administrators.
Brisbane hypersonic aircraft developer Hypersonix Launch Systems has raised a $46 million Series A led by High Tor Capital with Saab, RKKVC, QIC and federal backing, valuing it at $141 million.
Hypersonix, a Queensland company developing hypersonic planes that run on hydrogen, has secured a Series A backed by a UK fund, government investors and Saab.
Also SmartCompany·Dealroom
Sydney chipmaker Morse Micro has banked an $88 million Series C led by Japan's MegaChips, with the national reconstruction fund and several existing backers also participating; funds will drive growth and future chip development.
Also Startup Daily·builtinsydney.au·semiiphub.com·Forbes Australia·morsemicro.com·Forbes Australia·SmartCompany·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily·Forbes Australia·smallbizai.au
Australia's NRFC has injected $150m into Brandon Capital's sixth life-science vehicle, lifting it to a $439m close; past NRFC cheques to local deep-tech firms are also recapped.
Brandon Capital has completed a A$439 million final close for its sixth life sciences fund, bringing the National Reconstruction Fund Corporation and WA Government in alongside backers such as HESTA, Hostplus, CSL and QIC.
Tracxn figures show Australian tech funding reached $1.8 billion by mid-2025, powered by large late-stage rounds at Protecht, Airwallex, Harrison AI and Advancell, while seed and early-stage raising fell away sharply.
Australian biotech PolyActiva has raised A$40 million in Series C funding to advance its PA5108 ocular implant and PREZIA platform, backed by the National Reconstruction Fund Corporation and Brandon Capital.
Also Brandon Capital portfolio·Brandon BioCatalyst portfolio·SmartCompany·SmartCompany·polyactiva.com·Startup Daily·ophthalmologybreakingnews.com·Forbes Australia
Citing AFR reporting, the publisher relays that the federal reconstruction investor is set to announce a stake in a glaucoma treatment developer, alongside venture co-funding, and plugs its June funding panel.
Diamond quantum hardware maker Quantum Brilliance raised $20 million in Series A funding from Main Sequence, In-Q-Tel and Australian government investors, and won a German agency contract for a mobile quantum computer.
QuintessenceLabs, a two-decade-old cybersecurity company in Canberra, has raised $20 million with $15 million coming from the National Reconstruction Fund; earlier rounds for Harrison.ai, Vault Cloud and Quantum Brilliance are also recalled.
Australia's National Reconstruction Fund defended its $32m investment in health AI firm harrison.ai at Senate estimates, saying it stood by the decision but would not confirm whether a privacy probe was considered.
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.
Also Women's Agenda
Diamond quantum hardware maker Quantum Brilliance announced a US$20 million Series A with Main Sequence, In-Q-Tel, Intervalley Ventures, NRFC and Breakthrough Victoria among its backers, to build a foundry and sensing prototypes.
Weekly roundup covering seven Australian companies' fresh capital: EV charging, satellite IoT, sovereign cloud, wearables, workplace messaging, plus two crowdfunding raises on Birchal.
Also Startup Daily·Startup Daily·@AuManufacturing·@AuManufacturing
Australia's National Reconstruction Fund Corporation has put $22.5 million into Vault Cloud's Series B, its first defence-priority investment, after recent year-end cheques to Myriota, Quantum Brilliance and Russell Mineral Equipment.
Also SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily
Adelaide IoT satellite firm Myriota has raised $50 million, led by the National Reconstruction Fund’s $25 million contribution, with Main Sequence and Inter Valley Ventures also backing; an NRFC director has resigned.
Myriota, an Adelaide nanosatellite company, has raised $50 million with $25 million from the National Reconstruction Fund Corporation; the piece also recaps the fund's recent backing of Quantum Brilliance and Russell Mineral Equipment.
Also Startup Daily·Business News Australia·@AuManufacturing·SmartCompany·SmartCompany·Startup Daily·myriota.com·lotfourteen.com.au·atomicmobile.com·Startup Daily·Space Connect·@AuManufacturing