W23

Six ANZ startups that raised $568.1 million this week

Funding roundup led by Airwallex's US$330 million Series G at a $12 billion valuation, with raises from Kasada, Hnry, All G, Bless Payments and Emanda, plus earlier rounds recalled.

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Breast milk substitution biotech raises $10 million amid French deal for global push

Sydney biotech All G raised $10 million via convertible note from Agronomics, Doehler's venture arm and ID Capital, alongside a joint venture with France's Armor Protéines to push its fermented lactoferrin products globally.

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Breakthrough Victoria lures Sydney proteins startup Harvest B south in $3.5million pre-Series A

Harvest B, a Sydney-based protein maker, raised a $3.5 million pre-Series A with Mandalay Venture Partners leading and Breakthrough Victoria contributing $2 million, alongside a $2.2 million federal grant and a 2021 seed round.

Investment Update: Harvest B

Breakthrough Victoria is putting $2 million into protein technology company Harvest B, joining a $5.6 million pre-Series A round with Mandalay VC leading and several other backers.

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Lululemon signs 10-year deal with Aussie recycling start-Up Samsara Eco

Samsara Eco has struck a decade-long supply deal with Lululemon for enzyme-recycled fabrics; the piece recalls its Temasek-led raise and flags a new NSW plant.

Tim Doyle has a dildo problem and needs a hand

Tim Doyle, cofounder of health startup Eucalyptus, tells a Blackbird Sunrise audience that solving his warehouse of returned sex toys is the route to a job, and offers blunt views on local venture capital.

MGA Thermal wins Impact Award in Climate Salad's climate tech awards

Climate Salad's 2024 Australian Climate Tech Awards honoured eight winners, with MGA Thermal taking the Impact Award; the piece recaps the thermal storage company's year, including ARENA grants and a pre-Series B top-up.

Four Aussie startups that raised $123.6 million this week

Weekly roundup of four Australian raises: HammerTech $105m led by Riverwood Capital, JigSpace $13m led by Breakthrough Victoria, ExoFlare's $5.3m seed, and Go Locum's $350,000 seed led by Paspalis.

Biosecurity threats software startup plants $5.3 million Seed round

ExoFlare, cofounded by ex-Data61 chief Adrian Turner, has banked $5.3 million in seed funding led by Salus Ventures to help food producers manage biosecurity risks.

Also SmartCompany

‘Game changer’: Samsara Eco raises $100 million for infinite recycling of plastics

Australian plastics recycler Samsara Eco secured a Temasek-led Series A+ of $100 million to scale enzyme-based infinite recycling, with Southeast Asian facilities planned, adding to its 2022 Series A.

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Plant-based meats venture ProForm Foods in voluntary administration

KPMG administrators took control of ProForm Foods, the company behind the Meet brand, and the piece recalls earlier raises at v2food and All G Foods as the plant-based sector cools.

Red seaweed was billed as a gamechanger for livestock methane reduction… so when will it deliver?

Q&A with FutureFeed's chief executive on Asparagopsis seaweed as a livestock methane-cutting feed additive: its licensing business, backers, licensees' progress, regulation, research and scaling hurdles.

Homebrand ventures: Woolies goes global with its VC fund in partnership with international grocers

Woolworths and four international grocers are behind global venture fund W23 Global, each putting in US$25 million, with Ingrid Maes as CEO. The original Australian W23 fund backed Eucalyptus, All G Foods and Longtail UX.

lululemon, Samsara say new recycled polyester jacket is a world first

Samsara Eco and lululemon launch a jacket made with enzyme-recycled polyester; the piece recalls Samsara's 2022 Series A and its investors.

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Burgers and acquisitions: All G Foods spins out plant-based meats in merger with Fenn Foods

All G Foods spins its Love Buds plant-based range into a merger with Fenn Foods' vEEF, forming a new entity; All G pivots to fermented dairy, with both companies' earlier raises recapped.

Online health brands startup Eucalyptus picks the online meat off the bones of Jenny Craig collapse

Eucalyptus buys Jenny Craig's online assets out of administration while stores shut; the health startup's recent raise and earlier rounds are recapped, alongside other distressed-brand acquisitions.

Woolies in sheep’s clothing: Why the new Milkrun is just startup cosplay

Woolworths has relaunched the collapsed Milkrun brand atop its Metro60 delivery service after buying the name and assets; the piece reflects on the quick-grocery startup's rapid rise, big venture raise and February demise.

Eucalyptus lands $50 million amidst online prescription model concerns

Digital health company Eucalyptus has raised $50 million from existing backers, reportedly valuing it at $560 million, even as doctors and regulators question the prescription practices of its weight-loss brand Juniper.

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Six Aussie startups that raised more than $54 million this week

Weekly roundup covering six Australian startup raises totalling over $54 million, including Sapia.ai's Series A, rounds for Abyss Solutions, HMC Group and eQ8, plus smaller raises for Oceanfarmr and Subpod.

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AI-based recruitment startup Sapia raises $17 million in Series A

Recruitment AI startup Sapia.ai has raised a $17 million Series A led by Macquarie Capital and Woolworths' venture arm W23, to fund overseas expansion; Woolworths has used the platform for a year.

Also SmartCompany·Startup Daily

Samsara Eco banks $54m Series A funding to scale infinite recycling

Enzyme-based plastic recycler Samsara Eco has raised a $54 million Series A to build a commercial recycling facility in Melbourne, with investors including the CEFC Innovation Fund, W23, Main Sequence, Breakthrough Victoria and Temasek.

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“Infinite recycling” startup Samsara raises $54 million in Series A

Samsara Eco, an Australian National University recycling-tech spinout, has closed a $54 million Series A with returning and new investors, plus an earlier government grant, to expand its enzyme library and build its first commercial facility.

Compostable stretch wrap startup raises $11 million Series A

Victorian compostable stretch wrap maker Great Wrap has secured an $11 million Series A from impact backers plus $13 million in asset financing, supporting a new Tullamarine plant and coming overseas expansion.

Also AgFunderNews·Startup Daily·AgFunderNews

Bioplastics company wraps up $24 million Series A

Sustainable packaging firm Great Wrap has closed a $24 million Series A, combining equity from Darren Thomas and Woolworths' W23 with asset finance, to build a potato-waste bioplastics facility in Victoria.

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A win for women as female-founded VCs team up

Three female-led venture firms launch WinVC, a community and education initiative supporting women in venture capital through mentoring, networking and profile-raising, led by executives from W23, OneVentures and Jelix Ventures.

Plant-based meat and dairy product consumption up 14 per cent in 2020/21: ABS

ABS data shows Australians consuming more plant-based meat and dairy substitutes, alongside recent capital raises by alternative protein startups and large government grants for a South Australian legume protein project.

Also SmartCompany·@AuManufacturing·@AuManufacturing·Startup Daily·@AuManufacturing·@AuManufacturing·@AuManufacturing

Recycling start-up scores $6m for enzyme that eats plastic

Recycling startup Samsara Eco picked up $6 million from the CEFC, managed by Virescent Ventures, plus Woolworths' W23 and CSIRO's Main Sequence, to commercialise its enzyme-based plastic recycling.

Also TechCrunch Australia·@AuManufacturing·Techboard·SmartCompany·TechCrunch Australia

Aussie envirotech Samsara raises $6 million to tackle 'infinite recycling'

Envirotech startup Samsara has raised $6 million from Main Sequence, W23 and the CEFC to build a recycling plant and grow its enzyme-based plastics technology team.

Ignition Lane's Weekly Wrap: Super-fast unicorn, VC funding boom, put another founder on a Barbie

Ignition Lane's weekly roundup: Zip's deal for Sezzle, Zeller's unicorn raise, several Australian funding rounds, Startmate backing Provvy, a space manufacturing grant, NZVC's first close, and tech's response to Russia.

Fake meat startup All G scores bigger Woolies backing

Woolworths' corporate venture arm W23 has added an undisclosed multi-million-dollar investment to its backing of Sydney alt-protein maker All G Foods, which had earlier raised a $16 million seed round in late 2021.

Also AgFunderNews·@AuManufacturing·SmartCompany·Startup Daily·Startup Daily·AgFunderNews

Mosh raises $25 million to break down taboos in men's healthcare

Australian men's health startup Mosh has secured $25 million in fresh capital from Hims co-founder Joe Spector, Washington H. Soul Pattinson and Regal Funds Management, with existing backers Parc Capital and Thorney also participating.

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Why We Invested In Harvest B

Aura Ventures' thesis post explains its plant-based protein outlook and announces co-leading Harvest B's pre-seed round alongside Woolworths' venture arm W23.

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