From protein innovation to publishing platforms, this week’s funding highlights demonstrate investor appetite for both deep science and scalable tech solutions across the Asia-Pacific region.
Queensland Lab raises $7M for milk protein innovation
Brisbane-based Eclipse Ingredients has completed a $7 million funding round to advance its precision fermentation technology for producing lactoferrin, an essential protein typically extracted from mammalian milk. The company received $2.9 million through the federal government’s Food and Beverage Accelerator program, with additional investment from Silicon Valley’s AgFunder.
Eclipse’s technology addresses a significant market inefficiency in lactoferrin production. Traditional extraction requires 10,000 litres of cow’s milk to yield just one kilogram of the protein, resulting in retail prices of approximately $1 per supplement capsule. Despite being crucial for infant development and immune function, the high production costs have kept lactoferrin out of most baby formulas.
The startup plans to debut its first commercial product in the skincare sector by 2027, leveraging lactoferrin’s proven benefits for skin health and regeneration.
Sydney publisher platform secures $23M
Linkby, a five-year-old Sydney startup connecting publishers with brand advertisers, has raised US$15 million ($23 million AUD) in Series B funding led by Boston-based Volition Capital, marking the VC firm’s inaugural Australian investment.
The platform operates in the space between traditional branded content and affiliate marketing, allowing advertisers to directly approach over 600 premium publishers. Unlike standard advertising models, Linkby’s pay-per-engagement structure uses cost-per-click and CPM pricing to provide campaign transparency and performance control.
Co-founders Andrew Chak, Chris Wirasinha, and Adrian Fagerlund launched the company in 2020. The latest round follows a $4 million Series A completed in June 2024 and a $5 million seed round from early 2022. Previous investors include Perennial Private Investments and OIF Ventures.
NZ fund targets 30 emerging companies
Icehouse Ventures has already secured half of its $30 million target for Seed Fund IV, just one month after launching the investment vehicle designed to back New Zealand’s most promising early-stage companies.
The fund aims to support 30 startups over the next three to four years, building on the success of previous Icehouse investments. Their inaugural fund backed companies including unicorn agricultural technology firm Halter, trade software provider Tradify (which delivered a 23x return upon exit last year), aerospace company Dawn Aerospace, and investment platform Sharesies.
According to 2024 Carta data, Icehouse’s first seed fund ranks in the top 10% globally for cash returns and total value among more than 2,000 investment firms worldwide.
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