Funding announcement
Government · 8 deals
New Industries Fund
Disclosed deals
Every published round New Industries Fund 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 |
|---|---|---|---|---|---|---|
| Hermes and Soteria | Grant | Jun 2024 | $40k | Lead | Startup News (WA) (27 Jun 2024), Startup News (WA) (29 Mar 2024) | |
| Vendaly | Accelerator | 13 May 2024 | $20.5k | Lead | Startup News (WA) (13 May 2024), Startup News (WA) (29 Mar 2024) | |
| WorkbenchX | Accelerator | 30 Oct 2023 | $40k | Lead | Startup Daily | |
| Matilda Health Pty Ltd | Accelerator | 28 Sep 2023 | - | Lead | Startup News (WA) | |
| Wevolt | Pre-seed | 16 Jun 2023 | $2m | Lead | SmartCompany (23 Jun 2023), SmartCompany (19 Jun 2023), Startup News (WA) | |
| Purpose Ventures | Grant | 4 Apr 2023 | $100k | Participant | Startup Daily, Startup News (WA) (27 Mar 2023), Startup News (WA) (21 Feb 2023) | |
| Procuracon | Accelerator | 2023 | ≤$40k | Lead | Startup News (WA), Startup Daily (9 May 2023), Startup Daily (28 Feb 2023) | |
| Omni Biotech | Pre-seed | 2023 | $300k | Lead | Startup Daily, Startup News (WA) |
Portfolio
Companies New Industries Fund has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Hermes and Soteria | Jun 2024, Grant | 1 | 1 | |
| Matilda Health Pty Ltd | Digital platform for prehabilitation and post-operative recovery for endometriosis surgery | 28 Sep 2023, Accelerator | 1 | 1 |
| Omni Biotech | 2023, Pre-seed | 1 | 1 | |
| Procuracon | 2023, Accelerator | 1 | 1 | |
| Purpose Ventures | 4 Apr 2023, Grant | 1 | 0 | |
| Vendaly | 13 May 2024, Accelerator | 1 | 1 | |
| Wevolt | Orchestration software turning multi-vendor charger fleets into one grid-aware resource | 16 Jun 2023, Pre-seed | 1 | 1 |
| WorkbenchX | 30 Oct 2023, Accelerator | 1 | 1 |
Funds
Fund closes reported for New Industries Fund, as distinct from the investments it has made.
Portfolio companies acquired
Companies New Industries Fund has backed that another company then bought. An exit for the holding, not a deal New Industries Fund did.
People
Coverage
Stories naming New Industries Fund. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Funding announcement
The WA government is sending 12 startups to the US under a new accelerator program
Western Australia's government has selected twelve tech startups for its new Global Growth Accelerator Program, delivered by Invest and Trade WA, to prepare them for US markets, culminating at SXSW 2025 in Austin.
6 deals
$547,300 Awarded To Six WA Innovators In Latest X-TEND WA Grants
Six Western Australian innovation programs share $547,300 in the latest X-TEND WA grant round, with applications for the next round open and the maximum grant now $150,000.
Funding announcement
Meet The 2024 Plus Eight Accelerator Cohort
Startup News profiles the twelve startups chosen for Spacecubed's 2024 Plus Eight intake in Western Australia, naming their founders and crediting the partners behind the program.
26 deals
WA Government Announces Latest Recipients Of Innovation Booster Grant
WA's government has granted 26 early-stage companies amounts reaching $40,000 each through the Innovation Booster Grant, listing every recipient and project; the program now accepts applications year-round.
Also Startup News (WA)
News
Learn how to raise money over dinner
WA venture fund Purpose Ventures stages a discounted founders' dinner on preparing for investment, backed by a state industry fund program and featuring WA founders; the event has since sold out.
Unnamed stage
FundWA invests in Hola Health
A newly established West Australian venture fund has made its maiden startup investment, backing a telehealth platform founded by three WA entrepreneurs; the fund itself operates with support from a state government grant.
News
Sports Tech program to be offered in WA for first time
ASTN has received a Western Australian government grant to deliver its sports technology entrepreneurship and pre-accelerator programs in WA, with a Perth launch event scheduled for 25 July.
Funding announcement
3 deals
Purpose Ventures closes $37M fund to invest in WA startups
Kylie and Derek Gerrard's Purpose Ventures has closed $37m for its Western Australian startup fund, with WA investors, the Steinberg Family Office as cornerstone backer and state government operational support.
Also Startup Daily
3 deals
WA Gov throws support behind three new VC funds in WA
Western Australia's government has selected three forming local early-stage venture funds, Purpose Ventures, Fund WA and Quokka Capital, for 100,000 dollars each in matched operational funding under its WAVES pilot.
32 deals
FUNDED July 2022 Anniversary Edition
Techboard's anniversary roundup catalogues a month of Australian startup funding: megadeals, three acquisitions, large debt deals, grants, accelerator intakes, and fund news including Archangel Ventures' committed capital.
2 deals
Spacecubed receives $5.9M Lotterywest grant
Coworking operator Spacecubed marked its tenth birthday with a $5.9 million Lotterywest grant to back Western Australia's early-stage ecosystem — the funder's largest single award, ten years after a smaller grant helped launch it.
34 deals
More than $643,000 in Innovation Booster Grants announced
WA's New Industries Fund is backing 34 home-grown ventures with over $643,000 in Innovation Booster Grants, most receiving up to $20,000 for commercialisation support, with four funded via a life sciences stream.
Exit / M&A
Startup West podcast 67: Doug Fitch, Agworld
A Startup West interview in which Agworld's chief executive recounts building the agricultural software company and its nine-figure acquisition by Canada-based Semios earlier in the year.
5 deals
$1M boost for WA medical products manufacturing
Five WA medtech companies receive voucher grants from MTPConnect's WA Life Sciences Innovation Hub, sharing $450,000 matched by $600,000 in co-contributions to advance medical manufacturing projects.