This week’s funding roundup covers AI infrastructure, clean tech, consumer insights and cloud storage.
Four deals closed this week across Australia, New Zealand and the US. Combined total: approximately $311 million raised.
Wasabi Technologies raises $250 million credit facility
Boston-based cloud storage company Wasabi Technologies has secured a $250 million credit facility to fund continued investment in its platform, infrastructure and global expansion. The round was led by Bain Capital’s Private Credit Group, with participation from U.S. Private Credit Investments, Neuberger Specialty Finance, Energy Impact Partners, and Aksia. The company positions itself as a lower-cost alternative to hyperscaler storage providers and has been expanding its infrastructure footprint as AI workloads drive demand for affordable, high-volume storage at scale.
Syenta raises $36 million Series A
Australian National University spin-out Syenta has raised $36 million to scale its AI chip manufacturing capabilities for data centres. The round was led by Silicon Valley venture capital firm Playground Global, with the National Reconstruction Fund contributing $10.1 million. Existing investors Investible, Salus Ventures, Jelix Ventures, and Wollemi Capital also participated. Playground Global general partner Pat Gelsinger, a former Intel CEO, will join the board. Syenta previously raised $2.2 million in 2022 and an $8.8 million round before this Series A.
Ideally raises A$13.4 million Series A
New Zealand-based AI consumer insights platform Ideally has raised A$13.4 million in a Series A valuing the business at $83 million. The round was led by Shearwater Capital, with support from Altered Capital and Icehouse Ventures. Founded in August 2023, the platform is used by more than 250 brands across APAC and the US, including Google, Telstra, DoorDash, Burger King, and Asahi. The company recently opened a New York office and previously raised $2.15 million before this round.
Renewable Metals raises $12 million Series A
Western Australian lithium-ion battery recycling startup Renewable Metals has raised $12 million to build out a demonstration plant in Kewdale that will recycle up to 2,000 tonnes of batteries annually, the equivalent of approximately 4,000 electric vehicles. The round was led by the Clean Energy Finance Corporation, with participation from Neglected Climate Opportunities, European Metal Recycling, impact VC Investible, and Climate Tech Partners. The company previously raised $16.1 million across two seed tranches.
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