Dynamic Business brings you the key startup fundraising from this week.
Neara secures $45 million in series C funding
Neara, an AI-driven predictive modeling platform for critical infrastructure, has closed an AU$45 million Series C funding round. Led by EQT, a major global investment organization, the funding round saw contributions from Partners Group, a key player in private markets, and early investor Square Peg Capital.
Returning investors Skip Capital and Prosus Ventures also participated. Neara plans to use the funds to further develop its software, aiming to optimize infrastructure management globally.
Antler Australia invests $2.7 million across 12 early-stage startups
Antler Australia has invested $2.7 million in 12 emerging startups after closing its $77 million second fund and expanding to Brisbane. The selected startups, representing industries like sustainability, health, and telecommunications, include founders from Uber, Salesforce, and the Australian Greens.
The companies participated in Antler’s 11th residency, a 10-week intensive program, where each team pitches for $225,000 in pre-seed funding for a 12% equity stake. Highlights include Authentified, an automated fashion resale platform, Balo, a help desk expert network, and Spoony, a social app for neurodivergent individuals. Antler’s next cohort is set for February 2025.
LaunchVic offers up to $1.5m in grants to boost victorian startups
Victoria’s startup agency, LaunchVic, has unveiled two grant rounds worth up to $1.5 million each to support accelerator programs and investor education. Up to $1 million is earmarked to fund investor education, aiming to empower early-stage investors.
With more than 3,500 startups valued at $129.3 billion across the state, LaunchVic’s programs have already fostered $84 million in startup investment from over 200 investors.
Earthodic raises $6 million seed round
Brisbane-based climate tech startup Earthodic has secured US$4 million (AU$6 million) in seed funding to expand its sustainable packaging solution into the US market. FTW Ventures led the round, alongside investors including Circulate Capital, Queensland Investment Corporation (QIC), and New York’s Closed Loop Partners.
Earthodic, which focuses on eco-friendly packaging, is positioned to make a strong entry into the US market with this new backing.
Alimetry secures $27 million in series A2
New Zealand’s Alimetry has raised US$18 million (AU$27 million) in Series A2 funding to support the US launch of its wearable gut health diagnostic device. Leading the round was Kiwi VC GD1, with involvement from the American Gastroenterological Association’s GI Opportunity Fund, Olympus Innovation Ventures, and IceHouse Ventures.
The company plans to leverage AI in its wearable device to enhance gut health diagnostics, gaining traction among medical professionals in the US.
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