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funding roundup

Eric Gao, BMYG Financial Group. Image credit: BMYG Financial Group

Funding roundup October 25 – October 29: Superhero secures $15m, BMYG Financial Group raises $500m FUM and Bupa boosts sustainable SMEs through the disruptive program

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

Superhero announces $15m funding round

Superhero, a leading share trading, and superannuation platform, has closed its latest $15 million capital raising. This capital raise brings the total money raised from the company’s founding in 2018 to $48 million, with $40 million raised in 2021 alone.

Perennial Value Management led the round, which also included high-profile investors such as Regal Funds Management, Ophir Asset Management, and Alex Waislitz’s Thorney Investment Group.

The $40 million raised in 2021 will support Superhero’s ambitious growth plans – both in terms of developing and adding more to the Superhero platform for customers as well as geographic expansion. 

BMYG Financial Group secures $500m funds under management

BMYG Financial Group, an investment firm, has raised $500 million in funds under management, altering its strategy to invest in both Australian and global unicorn companies. 

The company, which specialises in managing funds from Chinese high net worth individuals, has also set a goal of handling over $1 billion in funds by 2024. 

The announcement comes after the firm’s Global Inspiration X fund made two significant investments in Klana and Airbnb. The fund’s investing goal is to provide a 20% return on investment.

Bupa boosts sustainable Australian start-ups through eco-disruptive program

Six Australian start-ups have received funding from Bupa to develop pilot solutions that positively impact the environment and people’s health through its eco-Disruptive program.

Through the initial competition phase, Australian start-ups have received around approximately $250,000 in total with an additional $350,000 potentially available to the winning team as part of a global vote.

The six Australian start-up finalists competing for the country final in November include:

  • AirSeed: A startup that aims to plant 100 million trees a year using drones and artificial intelligence.
  • Good Edi: An edible coffee cup that is fully compostable in two weeks and aims to solve the environmental issues stemming from the 2.7 million disposable coffee cups being sent to landfills in Australia every day.
  • H2X: A hydrogen vehicle and generator maker, aiming to fast-track zero-emission transport and power supply.
  • Australian Urban Growers: An online platform that enables people to upskill and grow their own fresh produce in a small space in a low maintenance way.
  • PlaySport: An online marketplace across the sports, recreation and wellbeing industries, providing an engaging digital experience for the community to discover and participate in physical experiences.
  • GetGreener: A marketplace app that guides people to greener options for everything they buy, then turns their purchase ‘carbon neutral’ to help end climate change.

Novalith raises AU$2.5m seed funding to launch its clean lithium extraction

Novalith Technologies, an Australian climate technology business focusing on the global lithium industry, has raised AU$2.5 million in a seed fundraising round. 

Novalith intends to accelerate the development of its Australian-made lithium extraction and refining technology in order to provide a low-carbon, environmentally friendly approach to lithium manufacturing. 

Their technique seeks to significantly lower production costs, improve sustainability outcomes, and, in the end, revolutionise the worldwide battery supply chain. 

Novalith will be able to use the funds to fund the construction and operation of a pilot plant in Sydney as it works toward the creation of a commercial demonstration plant.

Commercial property startup Inspace raises $4 million pre-series A

Inspace, a proptech platform that allows real estate brokers to host virtual property inspections, has received $4 million in a pre-series A round, with its sights set on the US and UK markets. 

Our Innovation Fund (OIF) led the round, with participation from Aconex co-founder Leigh Jasper, seed VC Investible, and Artesian. Geoff Levy, an OIF Partner, and former Mirvac director, will join Inspace’s board of directors.

Flux closes $800k seed round 

Flux has closed a $800,000 seed round as the Australian fintech and edtech firm expands its goal to improve financial literacy with the launch of its new ‘Flux At Work’ product. 

The $800,000 seed round, led by Kogan.com founder Ruslan Kogan and Catch Group co-founders Hezi and Gabby Leibovich, will allow Flux’s founders Brett Joffe, Justin Joffe, and Gustavo Hoirisch to help more young Australians improve their financial literacy and launch their first B2B product, Flux At Work.

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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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