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Funding highlights: WorkRex, 14Peaks and new SME growth fund

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

NextWork Secures $2.3 Million in Pre-Seed Funding

NextWork, a New Zealand startup, has raised $2.3 million in pre-Seed funding for its initiative to provide free training in the entry-level AWS certification to 1000 students. Led by Kiwi VC GD1, the round saw participation from Blackbird, Icehouse, Phase One Ventures, and the founders of Eucalyptus. The Wellington-based startup aims to globally upskill workers in tech talents.

WorkRex Raises $220,000 in Pre-Seed Funding

Melbourne startup WorkRex has secured $220,000 in pre-Seed funding from early stage VC Skalata. Founded by Jing Chen, Lance Qian, and Myron Liu—an optometrist, ex-McKinsey consultant, and software engineer—the startup offers an all-in-one customer marketing platform for small businesses, addressing the challenges of managing communication channels and meeting customer demands.

New Business Growth Fund Launched

A new Business Growth Fund has been announced, targeting small and medium-sized businesses with 5-49 employees. Offering grants ranging from $50,000 to $75,000, the program aims to support high-growth plans and specialized equipment purchases. Expressions of interest open on May 1st, with businesses invited to submit their applications.

Prep Secures $200,000 in Pre-Seed Round

Food distribution startup Prep has raised $200,000 from Melbourne VC Skalata to enhance its platform connecting major food retailers, corporates, and restaurants with emerging food brands. Prep facilitates efficient B2B distribution, integrating with producers’ ordering systems and providing marketing support, aiming to scale distribution for emerging food brands.

LetsTransport Receives $22Mn Investment in Series E

LetsTransport, one of India’s largest trucking aggregators, has secured a significant investment of USD 22 million in its Series E round led by Bertelsmann India Investments. This investment will accelerate LetsTransport’s mission to revolutionize India’s trucking industry by aggregating fragmented truckers and offering multiple assets across last-mile, mid-mile, and EV space.

BlackSoil Records 40% Investment Growth in FY24

BlackSoil, a leading alternative credit platform in India, has achieved over 40% growth in portfolio investment in the financial year 2024, surpassing $118 million in disbursement. With 36 new deals and 18 exits, BlackSoil’s strategic diversification approach across sectors like Financial Institutions/FinTech, Saas/DeepTech/IOT, and Consumer has contributed to its consistent profitability.

14Peaks Closes $30M Inaugural Fund for Fintech Startups

Venture capital firm 14Peaks Capital has successfully closed its inaugural fund at $30 million, attracting capital from influential High Net Worth Individuals and family offices across Europe and the United States. Specializing in B2B SaaS companies, particularly in Fintech and the Future of Work, 14Peaks aims to invest at the earliest stages and has already backed 11 companies in its portfolio.

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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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