Dynamic Business brings you the key startup fundraising from this week:
Woolworths expands investment in Seedlab Australia
Retail powerhouse Woolworths has deepened its commitment to food and drink innovation by injecting another $7 million into Seedlab Australia, a startup incubator it has supported since 2021. This latest funding boost follows an initial $4 million investment, enabling Seedlab to help nearly 400 businesses develop and bring new products to market.
Peak XV Partners Backs Fintech Shift with $35 Million Series D
Indian venture capital firm Peak XV Partners, formerly known as Sequoia Capital India, has reaffirmed its support for the fintech sector by leading a $35 million Series D round for Sydney-based Shift. The fintech company, which offers a range of business credit and payment solutions, previously secured $27 million in a Series C round in February 2023, also led by Peak XV. Shift, initially launched in 2014 as GetCapital, rebranded in 2021.
Inform Ag Secures $7 Million Investment
Queensland-based farm management tech startup Inform Ag has secured $7 million in its first external funding round, selling a 43% stake to ASX-listed Rural Funds Group (RFF). The strategic investment marks a departure for RFF, traditionally focused on agricultural assets such as cattle and vineyards. The deal includes $5 million in cash and a $2 million convertible debt facility, with options for RFF to increase its stake to 50% over the next two years.
Cropify Raises $2 Million in Funding Round
South Australian agtech startup Cropify has raised $2 million in a recent funding round, with cornerstone investments from Australian VC Mandalay Venture Partners and Singapore-based Hatcher+. The two firms, contributing a combined $850,000, marked their first joint investment under a new partnership announced this week. Cropify leverages AI technology to innovate in the agriculture sector.
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