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Funding round

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Markus Winkler on Unsplash

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

Prota Therapeutics Secures $32 Million in Series A1 Funding

Melbourne-based biotech startup Prota Therapeutics has successfully raised $32 million (US$21 million) in a Series A1 funding round in preparation for its Phase 3 clinical trial on an oral therapy for peanut allergy treatment. The funding, a blend of equity and debt financing, was spearheaded by SPRIM Global Investments (SGI), a Singapore-based firm. OneVentures, an early supporter of Prota Therapeutics and a major shareholder through the OneVentures Healthcare Fund III, also participated in the round.

Claxon Founder Launches One03 Ventures, a VC and Growth Advisory Firm

Daniel Willis, the chairman and CEO of advertising agency Claxon, has unveiled One03 Ventures, a new venture capital and growth advisory firm aimed at assisting startups in their transition to scale-up. The firm will specialize in providing venture capital and growth advisory services to Australian businesses and brands with annual revenues ranging from $2.5 million to $25 million.

National Renewable Network (NRN) Secures $13.5 Million for Solar and Battery Solutions

The National Renewable Network (NRN) has secured $13.5 million in funding to make solar and battery solutions accessible to all Australians. NRN has obtained a significant funding facility of up to $10 million and formed a partnership with Catalytic Impact Capital, a renowned Australian impact-focused private credit institution. This $10 million is in addition to the $3.5 million raised by the company since its inception.

Element Zero Secures $10 Million in Seed Funding

Australia-based green materials platform company, Element Zero, has successfully raised $10 million in seed funding, as announced on Wednesday. The funding round was led by Playground Global, an early-stage venture capital firm based in the United States.

Sakana AI Raises $30 Million in Seed Funding

Sakana.ai, founded by former Google researchers David Ha and Llion Jones, is establishing a cutting-edge research lab in Tokyo to develop smaller and more efficient foundation models. Known for breakthroughs such as Transformers, World Models, and LoRA, Sakana AI has raised $30 million in seed funding from Lux Capital’s Brandon Reeves and Khosla Ventures’ Jon Chu. The funding will propel the company’s efforts to pioneer advancements in artificial intelligence and establish Tokyo as a significant player in the AI landscape.

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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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