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Malcolm Hebblewhite, CEO of Atmo Biosciences.
Image credits: Atmo Biosciences

Funding roundup September 20 – September 24: Airwallex hits $4b in valuation, Australian Ethical launches ethical fund, and CARS24 raises $450m

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

:Different raises $25m and partners with CommBank

:Different, an Australian property management company, has raised $25 million in a Series B round of funding as it looks to expand and build its workforce of property managers and technology platform.

The round was led by Commonwealth Bank’s venture-scaling entity, x15ventures, and Antler. CBA and :Different will also develop a strategic alliance to collaborate on exclusive incentives and perks for homeowners across the country. 

:Different was formed in 2017 by ex-Silicon Valley executives Mina Radhakrishnan and Ruwin Perera.

Flippa raises $15m Series A 

Flippa, an online marketplace for buying and selling online companies and digital assets, announced a $15 million Series A round led by Sydney-based venture capital firm OneVentures. 

More online business owners are looking for a dependable, seamless approach to sell their firms as part of broader trends related to the pandemic’s surge in digital entrepreneurship and investors’ interest in digital investments. 

Australian Ethical launches ethical multi-asset high growth funds

Super fund manager,Australian Ethical, , has launched a one-of-a-kind solution for the country. It has developed one of the first 100% ethical multi-asset high growth funds. 

It starts with a $250 million opening balance repurposed from its former Advocacy Fund, and it allows average Australians to access assets such as venture capital and private equity.

It will provide regular Australians access to illiquid assets that were previously only available to wealthy impact investors and venture capitalists, with up to 20 per cent of the strategic asset allocation dedicated to alternative assets such as private equity, venture capital, and infrastructure.

Examples of such investments Australian Ethical has previously made include allocations to the Right Click Capital Growth Fund, Artesian Clean Energy Seed Fund, Main Sequence CSIRO Innovation Fund, and Morrison & Co Growth Infrastructure Fund.

CARS24 raises US$450m, valued at US$1.84b

CARS24, Australia’s first 100 per cent online used vehicle buying experience, announced the completion of a US$450 million round of fundraising, which included a US$340 million Series F equity round as well as a US$110 million loan round from diversified financial institutions. 

DST Global, Falcon Edge, and SoftBank Vision Fund 2 led the Series F Equity round, with participation from Tencent and previous investors Moore Strategic Ventures and Exor Seeds.

Airwallex secures US$200m Series E funding round

Airwallex, one of the fastest growing global financial platforms, announced a US$200 million Series E fundraising round, bringing the company’s valuation to US$4 billion. 

Lone Pine Capital led the latest round. G Squared and Vetamer Capital Management joined the round, joining prior investors such as 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures, and Sequoia Capital China. 

With the closing of Series E, Airwallex has now raised more than US$700 million in equity financing. This fresh investment comes on the back of an extended Series D capital raising earlier in March 2021.

Atmo Biosciences secures $9.6m

Atmo Biosciences, a digital health business producing the world’s first ingestible gas-sensing capsule for monitoring gut, has completed a successful, oversubscribed $9.6 million capital raising. 

Two new cornerstone investors led the round: Sydney-based investment firm Alium Capital Management and Japanese multinational corporation Otsuka Pharmaceutical. The funding will allow Atmo to speed product development for its gas-sensing capsule.

The new funding will also enable Atmo to conduct the clinical studies required to file an initial FDA submission for US regulatory clearance involving the use of Atmo’s capsule to assess gut motility and transit time using gas profile-based location signatures.

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