Dynamic Business brings you the key startup fundraising from this week.
Prodigy Finance secures additional $310 mil in funding
Prodigy Finance, a global leader in higher education financing, has raised an additional $310 million. This latest funding round, building on a successful previous partnership with the U.S. International Development Finance Corporation (DFC), emphasizes social impact.
A minimum of 30% of the funds will support women, and 50% will benefit individuals from low- and lower-middle-income countries. This initiative aligns with Prodigy Finance’s mission to increase global access to education and empower transformative learning opportunities worldwide.
JustFund raises $86 million to accelerate growth
JustFund, a social lender that provides flexible lines of credit for family law matters, has raised $86 million in a new funding round. This includes $75 million in senior debt and $11 million in mezzanine funding provided by various family offices.
The round also includes notable investments from leading Australian and international fintech investors and debt providers, including Xilium Capital, The Legal Tech Fund (USA), the impact investment firm Tripple, and members of the Australian startup scene such as Dom Pym, founder of UpBank, and Matt Allen of Tractor Ventures. The funds will help JustFund expand its services to meet growing demand from clients in need of financial support for legal expenses.
Neara secures AU $45 mil to expand global operations
Neara, a provider of AI-powered predictive modelling software for critical infrastructure, has raised AU $45 million in Series C funding. The round was anchored by a consortium led by EQT (a leading global investment organisation), with participation from Partners Group (one of the largest firms in the global private markets industry) and Square Peg Capital (one of the company’s earliest investors).
Additional support was provided by existing investors Skip Capital and Prosus Ventures. The funding will support Neara’s expansion in the U.S., UK, Europe, and Asia Pacific, addressing the increasing need for energy resilience and modernized infrastructure.
Crimson Education raises NZ$67 mil in series D
Crimson Education has raised NZ$67 million (A$60m) in Series D funding, which has increased the company’s valuation to over NZ$1 billion (A$910m). The round was led by NZ investor Movac, with support from existing backers HEAL Partners, Icehouse Ventures, US News, HighSage Ventures, and US fund Five Sigma.
Sydney-based private equity fund HEAL previously invested US$10m (A$15m) at a US$460m (A$695m) valuation in September 2022. This investment will support the company’s continued growth and expansion in the global education sector.
Orkestra secures $2.77 mil to speed up EV charger rollout
Orkestra has been awarded $2.77 million in co-funding from the Australian Renewable Energy Agency (ARENA) to accelerate the deployment of commercial electric vehicle (EV) chargers.
This $5.5 million project, which is backed by AGL, EnergyAustralia, RACV, RAA, and CBRE, aims to reduce the rollout time of EV chargers by three years, supporting Australia’s transition to cleaner energy and reducing reliance on government subsidies.
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