Four startups across deep tech, AI and digital health have secured fresh funding this week.
A University of Sydney deep tech spinout, a virtual alcohol detox platform, a Y Combinator-backed AI receptionist startup and a New Zealand-born fund admin player have all raised fresh capital, highlighting continued investor appetite across AI, health and frontier technologies.
Deteqt: $5 million Seed
University of Sydney spinout Deteqt has raised $5 million in Seed funding to scale its quantum diamond chip technology for defence and mineral sensing applications. The round was led by existing investor Main Sequence, with support from US deep tech investor ATP Fund, AUKUS-aligned VC BOKA Capital, Beaten Zone Venture Partners, Uniseed and the University of Sydney.
Founded in 2024 by professors Jim Rabeau and Omid Kavehei out of Sydney’s Nano Institute, Deteqt builds patented diamond-on-silicon chips that function as highly sensitive magnetic field sensors. The technology has applications across GPS-denied navigation, critical mineral exploration, medical imaging and battlefield detection. The company already holds a contract with the Australian Defence Force.
Clean Slate Clinic: $4.3 million
Virtual alcohol detox and recovery platform Clean Slate Clinic has closed a $4.3 million raise ahead of a planned $10 million Series A targeting UK expansion in 2027. The raise comprises a $2.8 million convertible note backed by impact investor Giant Leap and existing backer Scale Investors, plus a $1.5 million debt facility from early backer Australian Medical Angels.
Founded in 2020 as a social enterprise, Clean Slate provides doctor-led alcohol detox at home and has supported more than 3,000 clients. The company reports eight times revenue growth across nine quarters and a relapse rate more than three times lower than the industry standard.
Phonely: $22 million Series A
University of Melbourne spinout Phonely has raised $22 million (USD $16 million) in a Series A led by Base10 Partners, with support from Y Combinator and enterprise customers including Etech Global Services, TSA Group and Engage CX. The raise values the business at USD $100 million (AUD $139 million).
Founded in 2023 by PhD AI researcher Will Bodewes and Nisal Ranasinghe out of the university’s AI Research Lab, Phonely builds AI-based virtual receptionists for businesses. YC first backed the startup with $750,000 in mid-2024. The company has now raised more than AUD $26 million in total.
Caruso: $9.3 million Series A
New Zealand-founded AI-based fund administration and registry platform Caruso has raised $9.3 million in a Series A at an $80 million valuation. The round was led by Kiwi venture capital firms Icehouse Ventures and GD1, who first backed the company in a $3 million Seed round in 2023, with participation from private credit fund manager Balmain.
Founded in 2023 by Oliver Shaw and Mark Hurley, Caruso automates registry and fund administration using AI agents. The capital will fund product development, expanded AI capabilities and headcount growth to more than 80 staff across offices in Sydney, Auckland and Dallas, with the Sydney team set to double to around 40.
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