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Funding roundup October 18 – October 22:

Zero Co Founder Mike Smith. Image credit: Zero Co

Funding roundup October 18 – October 22: Deel secures US$425m, Immediation raises $3.6m and Zero Co breaks record for the largest crowdfund

Dynamic Business brings you the key start-up fundraising rounds from this week:

Deel raises US$425m in series D funding

Deel, the remote hiring company, said that it has raised US$425 million in Series D funding, bringing the company’s total amount raised to more than US$630 million. 

The most recent round of funding valued the company at US$5.5 billion. Coatue, based in the United States, led this latest funding round, with partners Rahul Kishore and Lucas Swisher in charge leading the deal. 

Several new and previous investors, including Altimeter Capital, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventures, Neo, and over 40 of the world’s major operators, also participated in this round.

Immediation raises $3.6m, increases board size after U.S. launch

Immediation, an Australian legaltech platform, has received $3.6 million in preparation for a US expansion. Alex Waislitz and Thorney Investment Group return as key investors in the round, with the cash supporting the company’s continued advancement of its technological platform and the expansion of its workforce in Australia, New Zealand, and the United States. 

Immediation has appointed business executive Christine Christian AO as its new Chair, while startup leader Rachael Neumann and UK-based legal tech veteran Greg Wildisen have also joined the board. Elana Rubin AM of Afterpay and Jim Cassidy, founding partner of Rampersand, have also joined the advisory board.

Immediation launched online mediation in 2019 and has quickly expanded to help law firms, courts, tribunals, and resolution organisations in accessing its purpose-built digital legal environments.

Zero Co secures $5m, breaks record for the largest crowdfund

Zero Co, an Australian start-up, said that it had broken an Australian record for the largest raise to $5 million using crowdfunding. This comes on the back of another record-breaking raise reaching $1 million in just 5 minutes. 

Zero Co will use this capital to help the brand expand its product range and enter the global market in 2022.

Current investors include Koala founders Dany Milham and Mitch Taylor, former St George Bank CEO Rob Chapman, and Atlassian co-founders Kim Jackson and Scott Farquhar’s venture capital firm, Skip Capital. 

The company just secured an additional $2 million from existing owners and signed a $6 million deal with venture capital investor Square Peg.

Hemideina completes $10m series A raise

Hemideina, a private hearing technology company, has closed its $10 million Series A capital raise, managed by Henslow. 

The fully subscribed capital infusion allows the company to expand its team and continue its technology development programme. Hemideina was formed in 2017 by Dr. Kate Lomas, CSO, and Dr. Elizabeth Williams.

Government offers startups $6.5m to build regtech solutions

Startups and small-to-medium-sized enterprises (SMEs) in Australia who offer new regtech solutions to improve information sharing for trades licences can receive grants of up to $675k. 

In a joint release, the government said that the grant will be delivered under the Business Research and Innovation Initiative (BRII), which will target projects to improve access to information on state and territory occupational licences.

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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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