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Funding roundup April 25 – April 29: Online brokerage Stake completes $90 million funding round, ChefPrep secures $3 million and Vyro raises $1 million to create a virtual EV dealership

Dynamic Business brings you the key startup fundraising rounds from this week:

Online brokerage Stake completes $90 million funding round

Stake has announced the completion of a $90 million fundraising round, cementing its position as the leading brokerage for Australia’s next generation of investors. 

Following an initial $40 million Series A funding round announced in May 2021, the Series A extension provides Stake with an additional $50 million to carry out its mission of breaking down barriers for the modern investor – and culminates in the largest-ever Series A fundraising for an Australian fintech at $90 million.

ChefPrep secures $3 million in seed round

ChefPrep, a culinary marketplace, raised $3 million in a seed round led by Artesian Ventures and Global Founders Capital. The round follows an angel round that raised $1.25 million in May 2021 and will support the platform’s ongoing growth. 

ChefPrep, founded in May 2021 by Elle Curran and Josh Abulafia, has emerged as a dominant force in the hospitality industry in New South Wales, connecting food-loving customers with top restaurants and artisan food producers in a virtual marketplace.

JLL Spark leads Re-Leased’s $15M funding round

The cloud-based commercial property management platform Re-Leased has raised USD$15 million in a funding round led by JLL Spark, the venture capital arm of global real estate leader JLL. 

The strategic investment will be used to accelerate Re-growth Leased’s in key international markets, invest in its core software platform, and launch a number of new products.

Social music creation platform BandLab raises US$65m Series B funding

BandLab, a Singapore-based social music platform that provides pro-quality creator tools to music makers worldwide, announced the completion of its Series B round, which totalled US$65 million and had a post-money valuation of US$315 million. 

Prosus Ventures, the venture investing arm of Netherlands-listed Prosus, which is majority-owned by Naspers (Tencent’s largest shareholder), was added to the company’s list of investors. 

Vulcan Capital, Microsoft co-founder and philanthropist Paul G. Allen’s multibillion-dollar investment arm, led the round, with participation from Caldecott Music Group and K3 Ventures, a venture capital firm that was an early backer of super app Grab and tech giant Bytedance.

Vyro raises $1 million Seed round to create a virtual EV dealership

Vyro, a six-month-old startup that aims to change the way electric vehicles are sold in Australia, has raised $1 million in seed funding. The round was led by Ellerston Capital and Antler Australia, which provided initial seed capital to Vyro as part of the Antler programme last year. 

Several prominent angel investors are also supporting the Seed round, including Matthew Browne, Managing Partner at Black Nova Venture Capital, Quentin Wallace, co-founder and Partner at Archangel Ventures, and Joshua Payne, co-Founder and COO of Battery Future Acquisition Corp.

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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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