This weekly feature from Dynamic Business runs down the week’s top funding rounds from Australia and India.
ANDHealth announces promising digital health companies in Australia
In a significant development for Australia’s digital health landscape, ANDHealth, a prominent organization in the sector, has unveiled a list of five highly promising digital health companies. These selected companies, namely Atmo Biosciences, Eugene, Humanetix, Immunosis, and Metabolic Health Solutions, will enjoy a unique opportunity by being accepted into the esteemed ANDHealth+ commercialization program.
Additionally, these companies will receive access to a substantial non-dilutive investment potential of up to $3.75 million. This initiative underscores ANDHealth’s commitment to fostering innovation and growth within the digital health sector in Australia.
Ignition secures USD$15 million growth capital facility
Ignition, a leading comprehensive platform designed to optimize professional services, has secured a substantial boost in the form of a USD$15 million growth capital facility. This achievement has been made possible through Ignition’s collaboration with its existing lending partner, CIBC Innovation Banking. With this significant infusion of capital, Ignition is poised to ramp up its investments across multiple areas.
This includes enhancing its platform, expanding its go-to-market strategies, and bolstering its customer success functions. These efforts will contribute to the company’s overarching goal of providing value to its extensive customer base and their clients worldwide, numbering nearly 7,000 customers and half a million clients.
Satellite inspection startup HEO Robotics raises $12 million in series A
HEO Robotics, a dynamic startup specializing in satellite monitoring, has accomplished a notable feat by raising $12 million in a Series A funding round. This achievement comes two years after its previous funding round, highlighting the sustained growth and investor confidence in the company’s vision and offerings.
The funding was led by prominent Sydney-based venture capital firm AirTree Ventures, with participation from the newly established sovereign capabilities early-stage fund, Salus Ventures. The funds raised are anticipated to further propel HEO Robotics in its mission to deliver cutting-edge satellite inspection capabilities.
Green Hydrogen Startup Hysata Secures $24 million
Hysata, a startup at the forefront of green hydrogen technology, has secured a substantial investment of $23.9 million to fuel its ambitious plans for revolutionizing renewable energy production. With the support of both the Queensland and federal governments, Hysata is set to transform electrolyser manufacturing with a newly inaugurated facility in Port Kembla, located south of Sydney.
This significant step forward is made possible through backing from the Australian Renewable Energy Agency (ARENA), reflecting the growing recognition of green hydrogen’s potential in the energy sector.
India’s BlackSoil Invested $30+ million in 17 deals
Amidst the challenges posed by the funding winter, BlackSoil, a prominent alternative credit fund in India, displayed impressive performance by investing more than $30 million (₹250+ Crores) across 17 deals in the first quarter of the financial year 2023-24 (Q1FY24). This remarkable achievement was coupled with a substantial growth of around 50% in the company’s assets under management (AUM) on a year-on-year basis.
Notably, BlackSoil achieved a notable feat of doubling its deal closure count in Q1FY24 when compared to the same quarter of the previous financial year (Q1FY23). Further highlighting their success, the company also achieved the successful exit of investments from 5 deals during Q1FY24.
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