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(L-R) David Ng, Jeff Yeo, Adrian Chia. Image Credit: Big Tiny

Funding roundup November 29 – December 3: $129m for Harrison.ai, Biripi Capital secures investment from Hudson Food Group and Q-CTRL raises $35m led by Airbus Ventures

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

Healthcare startup Harrison.ai lands $129m Series B

Harrison.ai, an artificial intelligence (AI) healthcare business, has received $129 million in a series B round to expand its global joint venture ambitions in medical diagnostics. 

The financing was led by existing investor Horizons Ventures, the VC firm of Hong Kong tycoon Li Ka-shing. It was backed by Blackbird Ventures and Skip Capital, as well as new investors Sonic Healthcare and I-MED Radiology Network. 

The startup had raised $29 million in its initial fundraising round in 2019.

Eco-tourism company Big Tiny raises $4.2 million in Pre-Series A funding

Big Tiny, a tiny house eco-tourism company, has raised $4.2 million in pre-Series A funding as VCs and consumers support sustainable accommodation and tourism emerges from its COVID-19 slumber. 

The most recent round of funding gives the company a valuation of $31 million. Koh Boon Hwee, a prominent Singaporean businessman, led the round, which also included Phillip Private Equity, GPPC Capital Limited, and Ascend Angels. 

This latest round of capital will be used to support Big Tiny’s growth in Australia, as well as a projected expansion into the New Zealand market in 2022.

Quantum sensor startup Q-CTRL raises $35 million led by Airbus Ventures

Q–CTRL, a Sydney-based quantum business, has raised $35 million in funding led by Silicon Valley venture capitalist Airbus Ventures. 

Q-CTRL had previously secured $22 million in a Series A investment led by Square Peg Capital in 2019. Airbus’ early-stage venture capital arm was drawn to the work of founder and CEO Professor Michael J. Biercuk following the company’s recent turn to quantum sensors which might boost their plans to mine on the moon. 

The new funding will help the team’s expanding quantum control initiatives as well as enable new data-as-a-service markets powered by quantum sensing.

Aussie restaurant app Mr Yum raises $89m series A round

Mr Yum, an Australian mobile payments business, has raised $89 million in a Series A funding round led by Tiger Global. 

This is the largest Series A fundraising round in Australian history for a female-led company, and the third-largest Series A round in Australian history. Skip Capital (the private fund of Atlassian co-founders Scott Farquhar and Kim Jackson) and Kogan founder Ruslan Kogan also participated in the financing. 

Existing investors TEN13 and AirTree also participated in this round, making their largest investments in the firm to date. Other investors in Mr Yum include Australian NBA star Patty Mills of the San Antonio Spurs and Grammy Award-winning artists Rüfüs Du Sol.

Australian video scale-up Vloggi expands seed round to overseas investors

Vloggi, a Sydney-based asynchronous video messaging scale-up, has announced that it is expanding its seed capital raise to overseas investors in order to reflect the company’s recent rapid increase of its international user base. 

Last month, the company announced its seed round, with a target of $3 million split into two tranches. The first $1 million is aimed at angel investors, with the remainder coming from institutional investors. 

The first tranche carries a larger discount and lower valuation cap. This raise follows successful completion of a $750,000 pre-seed raise in 2020, which valued the company at $3.3 million.

Aboriginal-owned startup Biripi Capital secures investment from Hudson Food Group

Biripi Capital, Australia’s first Aboriginal-owned private equity firm, has announced the financial close of a $20 million investment from Melbourne-based Hudson Food Group. 

Hudson Food Group acquires a minority stake in Supply Nation registered company The Dreaming Food Group, which was founded in 2021 by Biripi Capital to compete at scale in Australia’s food market, focusing on mainstream food services distribution, food manufacturing, and brand creation.

Sydney biotech firm EnGeneIC raises $5 million with VentureCrowd

EnGeneIC, an Australian biotech startup, has raised $5 million through equity crowdfunding platform, VentureCrowd, surpassing its $1 million pre-IPO objective by 500 per cent. 

The financing was driven by the company’s breakthrough COVID-19 vaccine, as well as the growing number of investors looking for med-tech investment opportunities. 

Elenium Automation raises $10 million 

Automation technology provider, Elenium Automation announced it has raised an additional AU$10 million in growth capital. 

The recent capital raise has been led by new investor Thorney Investment Group (Alex Waislitz), along with existing investors NRMA and Acorn Capital. The funds will be used to drive the manufacture and roll-out of Faceway, Elenium’s newest product. 

Melbourne-based Elenium now employs over 85 staff, designs, develops and manufactures in Australia and has installations across Asia Pacific, South East Asia, Hong Kong, India, Middle East, Africa, Europe and the USA. 

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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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