News
Startup · $15.5m raised
Xefco
Deep tech company using plasma-based deposition technology to dye and finish textiles without water
Geelong, VIC
Funding history
-
Grant : $4,999,122
-
Seed : $10,500,000
Investors
Every investor coverage indicates participated in a round Xefco raised.
| Investor | Rounds | Invested |
|---|---|---|
| Industry Growth Program | Grant | $5,000,000 |
| Industry Growth Program (IGP) | Grant | - |
| Breakthrough Victoria | Seed | $2,500,000 |
| Clean Energy Finance Corporation | Seed | $2,500,000 |
| Investible | Seed | - |
| Main Sequence Ventures | Seed | - |
| Virescent Ventures | Seed | - |
| Voyagers Climate-Tech Fund | Seed | - |
What Xefco bought
Companies Xefco acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
People
Coverage
Stories naming Xefco. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
3 deals
Recent Good News from our portfolio
Breakthrough Victoria rounds up April–May 2026 portfolio news, including grants for Number 8 Bio and Xefco, Liquid Instruments' Series C, program selections, partnerships, regulatory clearances and two new Aravax directors.
Grant
$5m
Breakthrough Victoria portfolio company Xefco reaches major commercial milestone
Xefco, held by Breakthrough Victoria, has secured a $4,999,122 federal Industry Growth Program grant as it sends its first production-scale waterless plasma dyeing unit to Indonesia, with twelve systems already committed by customers.
Series B
$45m
Breakthrough Victoria Portfolio Highlights 2025 Funding and Milestones
Breakthrough Victoria highlights portfolio achievements including Amber Electric's forty-five million dollar raise, Bygen and Diag-Nose grants, and Quantum Brilliance series A funding.
Also Breakthrough Victoria·Breakthrough Victoria·RenewEconomy·Startup Daily·RenewEconomy·Dealroom
Fund close
$230m
Climate tech now employs 7000+ people and is driving Australia's economic growth, Climate Salad's annual analysis finds
Climate Salad's report says Australia's climate tech sector has passed 7,000 workers across 730 startups and drew $680 million in venture capital; Sea Forest's ASX debut and fund commitments point to investor appetite.
undisclosed
$10m
AR 2024/25: Breakthrough Victoria's J-Curve Moment
Breakthrough Victoria's CEO reviews its 2024/25 year: growing capital base, strong co-investment leverage, portfolio milestones including Amber's $10m raise, first fellows awarded, and projected economic impact ahead.
Funding announcement
Breakthrough Victoria is slinging another $75 million at local VC funds
Victoria's Breakthrough Victoria has committed $75m to five specialist VC funds covering climate tech, life sciences, female founders and healthcare, each pledging a quarter of its capital to local startups.
Funding announcement
BREAKTHROUGH VICTORIA INVESTS $75 MILLION IN VENTURE CAPITAL FUNDS TO BUILD VICTORIA'S INNOVATION ECOSYSTEM
Breakthrough Victoria is putting $75 million into five venture capital funds, including Virescent, SYNthesis BioVentures, Scale and Galileo, each of which has pledged a quarter of its capital to Victorian startups.
News
Climate Tech and driving a Clean Economy
Breakthrough Victoria showcases nine climate-focused portfolio companies across clean energy and agrifood, describing each technology and its contribution to the energy transition and circular economy.
Series A
US$20m
Breakthrough Victoria Portfolio Companies Celebrate Milestones and Global Growth
Breakthrough Victoria highlights recent achievements of portfolio companies including funding, awards, and expansions for firms like Liquid Instruments, Quantum Brilliance, and Samsara Eco.
5 deals
FY23/24 New Investment Summary
Breakthrough Victoria's yearly investment review reports sixteen new portfolio companies backed in FY23/24, itemising five with amounts — Xefco, Raygen, Jupiter Ionics, Bygen, Aravax — and cumulative investment beyond $300 million.
Also SmartCompany
12 deals
Seven ANZ startups that raised $27.4 million this week
Weekly roundup of seven trans-Tasman raises totalling $27.4 million, headlined by Xefco's $10.5 million round, plus Hometime board appointments and Matrak's China expansion.
Also Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily
2 deals
Textiles dyeing climate tech startup Xefco raises $10.5 million Seed extension
Sydney-based textile dyeing startup Xefco has raised a $10.5 million seed extension led by Main Sequence Ventures, including $2.5 million from Breakthrough Victoria, funding expansion of its water-free dyeing technology into Victoria.
Seed
Xefco media release
Breakthrough Victoria is putting $2.5 million into Xefco, an Australian startup whose plasma coating enables water-free fabric dyeing, alongside Main Sequence, Virescent, Investible and Voyagers in a seed round.
Also Main Sequence Ventures portfolio·Virescent Ventures portfolio·SmartCompany·Startup Daily·@AuManufacturing·SmartCompany·SmartCompany·@AuManufacturing
Series A
$2.5m
Investment update: Xefco
Breakthrough Victoria announces a $2.5 million Series A investment in Xefco, a Victorian startup whose Ausora technology dyes and finishes textiles without water, helping it scale manufacturing and create local jobs.
Funding announcement
The Science Behind Backing Science
An Investible investor explains the firm's approach to vetting deep tech startups, recalling its Climate Tech Fund's recent backing of BSpkl, Xefco, Earthodic and Kite Magnetics.
Funding announcement