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Breadcrumb CEO Simon Elliott

Funding highlights: 1Breadcrumb, National Renewable Network, and more

Here’s a recap of recent funding developments from Australia, India, the US and beyond.

1Breadcrumb Raises $4 Million for Global Expansion

1Breadcrumb, an innovator in digital transformation for high-risk industries, has secured $4 million in a funding round led by Five V Capital. The company is leveraging this investment to drive its international expansion, focusing initially on the construction sector. Its ground-up approach connects individual site workers, aiming to become the default operating system for worksites.

With more than 25,000 subcontractors and 300,000 site workers already using its system across Australia and the UK, 1Breadcrumb improves safety and productivity by streamlining workflows. Notably, 65% of Australian construction sites still rely on paper-based processes, which 1Breadcrumb’s software can modernize by syncing with general contractor project management tools like Procore.

National Renewable Network Secures $1M in Pre-Series A Funding

The National Renewable Network (NRN), a platform revolutionizing access to renewable energy assets in Australia, has successfully completed an oversubscribed $1 million pre-Series A funding round. This round was led by Investible’s Climate Tech Fund and included participation from Electrifi Ventures and other angel investors. Investible contributed over $400,000, highlighting its commitment to impactful climate tech startups. NRN aims to democratize renewable energy access for Australian consumers, transforming how they utilize distributed energy resources in their homes and businesses.

Celebal Tech Raises Debt Funding from BlackSoil

Celebal Technologies, an IT services provider supported by Norwest Venture Partners, has raised an undisclosed amount of debt from BlackSoil, an alternative credit platform. The new funding will be used for working capital and general corporate purposes, enhancing Celebal Technologies’ ability to serve its over 200 clients and expand its market reach globally. This follows the company’s significant $32 million institutional fundraising in 2022 from Norwest Venture Partners, a global investment firm managing over $15 billion in capital.

Samsara Eco Secures $100M in Series A+ Funding

Samsara Eco, a pioneer in environmental technology, has raised AUD$100 million (USD$65 million) in a Series A+ funding round. The round was led by Temasek and Main Sequence, along with new and existing investors such as Wollemi Capital, lululemon, Hitachi Ventures, Titanium Ventures, and DCVC. The investment will enable Samsara Eco to scale its enzymatic recycling capabilities, with plans to establish new commercial facilities in South East Asia in the coming years. This development brings the company closer to its goal of eliminating plastic waste and preventing it from ending up in landfills or incineration.

Bearhug Lands $325,000 in Angel Funding

Sydney-based startup Bearhug, which offers reusable pallet wrap solutions, has secured $325,000 in an angel funding round. Founded in January 2023 by Tom Field and Max Higgins, Bearhug has already prevented more than four tonnes of plastic wrap from reaching landfills. The company’s reusable netting offers a sustainable alternative to traditional plastic pallet wraps, contributing to significant reductions in plastic waste.

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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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