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Funding roundup August 23 – August 27: E-bike Startup Tiller Rides raises $550,000 in 24 hours from crowdfunding

Dynamic Business brings you the key startup fundraising rounds from this week:

Medical technology Seer raises $34 million

Seer, a medical technology company focused on clinical monitoring in the home, has raised $34 million in Series A funding from Australian medical technology company Cochlear, EWM Group, SG Hiscock, and impact investor Giant Leap. 

Seer, founded in 2017 by Dr Dean Freestone and George Kenley, has developed patented medical technology that it implements through its own clinical service and has already changed epilepsy detection and management in Australia. 

The investment funds will be utilised to broaden its diagnostic services offering in Australia, moving away from epilepsy and more directly targeting the sleep and cardiac markets. 

Artificial intelligence provider Pi.Exchange raises $2.75 million 

An artificial intelligence startup that makes AI available to smaller businesses has secured A$2.75 million a pre-series A financing. 

Pi.Exchange promotes itself as an AI-as-a-Service provider, and its solution is aimed at the banking, retail, and professional services sectors. Investors included AI-focused VC Boab AI, Artesian, Nextrans, and Vision Creator, as well as the venture’s founding backer Himat Trust. 

Pi.Exchange was one of the first projects in Boab AI’s Scaleup programme earlier this year, getting a minimum of $300,000 in cash as part of a tailored six-month programme.

Quantum Brilliance secures $13 million in seed funding

Canberra-based computing science startup Quantum Brilliance has raised US$10 million (A$13m) in seed funding. 

The investment into the Australian-German full-stack quantum accelerator startup was co-led by the QxBranch founders’ and the CSIRO’s VC fund, Main Sequence, with other backers including CP Ventures, Investible, Jelix Ventures, MA Financial Growth Ventures Fund, R3I Ventures, and Ultratech Capital Partners.

By 2025, the business hopes to create quantum accelerators the size of a lunchbox with more than 50 qubits, hence accelerating the adoption of viable quantum applications. Quantum accelerators can be utilised in places where traditional computers are not appropriate, such as satellites, cars, hospitals, and robotic systems.

E-bike Startup Tiller Rides raises $550,000 in 24 hours from crowdfunding

Tiller Rides, a Perth-based startup dubbed the Tesla of e-bikes, has raised more than $550,000 in the first 24 hours of its crowd-sourced funding (CSF) campaign. Tiller Rides has smashed the average investment size on the CSF platform Birchal, at $7,639 per investor, roughly $6000 more than most raises. 

It is also Birchal’s 100th successful raise, with co-founder and MD Matt Vitale stating that the new fiscal year has gotten off to a flying start, with 14 deals already funded. 

Doctor training platform Oscer scores $5 million seed round

A $5 million seed round was secured by a medtech startup that helps aspiring doctors practise clinical reasoning abilities with AI-powered virtual patients. 

Blackbird led the investment in Oscer, which was joined by January Capital, Inventures, Archangel Ventures, and angel investors Brendan Hill and Jeff Bargman, and is valued at $20 million. 

Oscer is now being tested with students at the University of Melbourne, the University of Sydney, and other colleges in the United States. 

Following the funding, the company’s focus will shift to building a diagnostic assistance tool for physicians to obtain real-time second opinions via transcription, automated coding, and consult analysis.

Drone venture Carbonix lands $6.3 million seed round

Carbonix, a Sydney-based business that transitioned from high-speed sailing to drones, has secured $6.3 million in a late seed round ahead of US expansion plans. 

The investment was headed by Quickstep, an ASX-listed defence aerospace firm, and comes as the venture signs a large deal with electricity supplier Ausgrid to utilise Carbonix drones to monitor its power network.  

Indian gold-based Credit Platform Indiagold Raises $12 million 

Indiagold, a gold-focused digital alternative credit platform, has raised $12 million. The investment round will be led by PayU, Prosus’ payments and fintech business, and the Alpha Wave Incubation (AWI) fund, which is funded by DisruptAD and managed by Falcon Edge Capital. 

Better Tomorrow Ventures, 3one4 Capital, RainmatterCapital, and Leo Capital are among the other investors. The company will use funds to scale the firm and expand operations across the country. 

Indiagold, founded in 2020 by Nitin Misra and Deepak Abbot, provides users with gold-backed loans, gold savings, and gold locker services.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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