Startups are driving innovation across Australia and New Zealand, and the latest funding announcements showcase the diverse and ambitious tech ecosystem powering the region.
Here are the top funding highlights of the week:
WA’s Pronto Pilates raises $1.65M in equity crowdfunding round
Pronto Pilates, based in Western Australia, has successfully raised $1,645,935 from 488 investors through its equity crowdfunding campaign on OnMarket. This marks the largest crowdfunding raise in Australia this financial year and the third largest for the calendar year. In addition to the funds raised, over 200 investors have expressed interest in owning a Pronto Studio, potentially translating to a $160M sales pipeline if all deals close. Notably, 16 healthcare providers are among those interested, eager to attach a Pronto Pilates studio to their practices.
This also represents the second-largest raise for OnMarket in 2024, highlighting strong investor confidence in the brand’s growth potential.
Q-CTRL Wins $2.75M Government Contract for Quantum Tech
Sydney-based Q-CTRL, a leader in quantum computing software, has just secured a game-changing $2.75 million contract as part of the Australian government’s bold initiative to strengthen national defence capabilities. This funding is part of the Advanced Strategic Capabilities Accelerator’s (ASCA) Emerging and Disruptive Technologies program, which is investing over $60 million in cutting-edge innovations. With 21 contracts awarded from 179 proposals, Q-CTRL is positioned to make significant strides in enhancing quantum and counter-disinformation tech, cementing its role in Australia’s high-tech future.
QIC Invests $10M in Virescent’s Climate Tech Fund
The Queensland Investment Corporation (QIC) is throwing its weight behind climate tech, committing $10 million to Virescent Ventures’ second climate-focused fund, bringing total investments to $125 million. This fund, aimed at accelerating clean energy, sustainable agriculture, and smart city solutions, is rapidly gaining momentum. Alongside heavyweights like Westpac and the Clean Energy Finance Corporation (CEFC), QIC is backing innovation at the heart of Australia’s green transition.
Viewa Raises $300K to Revolutionize Online Shopping with AR
In a move that could reshape online shopping, Melbourne startup Viewa has raised $300,000 in pre-seed funding to supercharge the digital shopping experience using augmented reality (AR). With 80% of Australians shopping on mobile, Viewa is stepping in with a solution to bridge the gap between in-store experiences and online shopping. The platform is set to boost conversion rates by up to 94%, creating an immersive shopping journey that could transform how consumers buy online.
LiftHER Grant Challenge Returns with $40K for Female Founders
LIFTWOMEN® is back with the second edition of its LiftHER Female Founders Grant Challenge, offering $40,000in cash prizes to women entrepreneurs who are changing the world with innovative social and environmental solutions. Building on the success of the inaugural challenge in 2023, which saw nine impactful startups across Asia-Pacificrecognized, the program continues its mission to fuel women-led ventures with the resources they need to thrive and make a difference.
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