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Markus Winkler on Unsplash

Funding highlights: Constantinople, Femtek and more 

Here’s a recap of recent funding developments from Australia and beyond.

Constantinople Secures $50 Million Series A 

Fintech company Constantinople has raised $50 million in a Series A funding round. The investment was spearheaded by Dutch internet investment firm Prosus Ventures, with backing from existing Australian investors Square Peg and AirTree. The Sydney-based startup, established in 2022 by former Westpac managers Macgregor Duncan and Dianne Challenor, previously raised US$23 million (A$32m) in a Seed round in May 2022 but did not announce the funding until 12 months later. At the time, it set the record for Australia’s largest venture-backed Seed raise. This marks Prosus’ second investment within a month, following its participation with AirTree in a $12.6 million Seed raise for healthcare startup Kismet.

Skyflow Raises $30 Million for Data Privacy in AI 

Data privacy vault company Skyflow has raised $30 million to extend its Series B funding, with Khosla Ventures leading the round, along with prior investors Mouro Capital, Foundation Capital, and Canvas Ventures. The investment follows revenue growth of more than 210% and rapid adoption in the emerging market of sensitive data protection for Large Language Models (LLMs). Skyflow is a data privacy vault designed to simplify how companies isolate, protect, and govern their customers’ most sensitive data.

Northern Territory Government Invests $10 Million in Co-Investment Fund 

The Northern Territory government has launched a $20 million business investment fund in partnership with Darwin investment firm Paspalis Corporation. The Territory government is contributing $10 million through the Local Jobs Fund, matched by Paspalis, with funding of up to $5 million available for domestic and international businesses intending to establish operations in the Territory and create new jobs. The Paspalis Co-Investment Fund will concentrate on sectors such as advanced manufacturing, logistics and defence, technology, mining and exploration, space, and primary industries.

Femtek Raises $1 Million in Seed Funding 

Femtek has secured $1 million in Seed funding to provide women with better data regarding their menstrual cycle. The round was led by startup incubator and early-stage investor Arcanys Ventures, alongside Philippine-based software outsourcing and a Swiss office, which also has an office in Melbourne, led by managing partner Frederic Joye. Techstars and Australian angels provided follow-on investments. Femtek has developed a smart ring aiming to revolutionize menstrual health by generating health insights based on hormonal conditions and a woman’s life stages.

Investment in Australian Student-Founded Startups Surpasses $1.2 Billion 

University students are increasingly venturing into entrepreneurship, with student-founded startups raising over $1.2 billion since 2012. The launch of Australia’s first student-run venture capital fund is set to further escalate investment in this domain. NextGen Ventures, launching this week, has thoroughly analyzed VC and student founders’ data, documenting their success and the rise of entrepreneurialism in the tertiary sector. According to the NextGen Ventures report, the number of university students aspiring to become founders has tripled compared to a decade ago.

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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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