Here’s this week’s funding and innovation roundup for startups and SMEs.
Tracksuit, CloudTech, and Voltavate lead this week’s funding surge, highlighting innovation and global expansion across AI, blockchain, and renewable energy sectors.
Tracksuit raises $38 million Series B
Brand tracking platform Tracksuit has secured $38 million in a Series B round led by VMG Partners, with existing investors Blackbird, Icehouse Ventures, Altos Ventures and Footwork also participating.
The funding will accelerate Tracksuit’s global expansion, deepen its presence in the US market, and support its ambition to become the global standard in brand measurement. Capital will also be directed toward scaling AI-powered insights and expanding the data available to customers.
CloudTech lands AUD$14 million
Blockchain infrastructure firm CloudTech Group has raised AUD$14 million in a Series A round, with AUD$11 million of that contributed in Bitcoin and USDT. The raise will fund the launch of CloudTech Custody, an institutional-grade custody product for digital assets. Founded in 2021, CloudTech delivers a suite of services across over-the-counter trading, stablecoin solutions and fiat-to-crypto payments through its CobWeb Pay platform.
lululemon inks 10-year recycled materials deal with Samsara Eco
Lululemon has signed a 10-year offtake agreement with Australian recycling startup Samsara Eco to supply recycled raw materials, building on a long-standing partnership between the two companies.
The agreement could see Samsara Eco’s tech power up to 20 percent of Lululemon’s fibres portfolio as the company works toward its goal of using preferred materials in the majority of its products by 2030. The deal signals a continued push toward building a circular supply chain for performance apparel.
Global Startup Ecosystem Rankings 2025 show AI surge, exit decline and new regional leaders
The 2025 Global Startup Ecosystem Rankings highlight a turbulent year for exits and a surge in AI and Big Data investment. AI and Big Data are now the fastest-growing subsector globally, with a 33 percent increase in VC funding and 40 percent share of global VC investment, up from 26 percent in 2021. At the same time, the number of large exits dropped by 31 percent across the top 40 ecosystems. Cities that bucked this trend included Shenzhen, Tokyo, Seoul, Shanghai, Paris and Philadelphia.
Hong Kong jumped from the Emerging Ecosystems list to rank 27th globally, the single biggest improvement of the year. Philadelphia climbed 12 spots to 13, while Bengaluru-Karnataka moved up seven positions to 14. Paris rose to 12 after a wave of unicorns and early-stage deals. London fell to third globally, ending its tie with New York City. São Paulo held steady at 37 and remains Latin America’s only top 40 performer.
Riyadh made the largest leap in the MENA region, moving from the 51–60 bracket to the 21–30 range among emerging ecosystems. Cape Town and Lagos remain sub-Saharan Africa’s top ecosystems, with Lagos leading in funding and Cape Town in talent and experience. In Oceania, Sydney was ranked 25th globally, while Melbourne held its 32nd spot with a 14 percent funding boost.
Voltavate powers up with $850K pre-Seed
Melbourne-based battery startup Voltavate has raised $850,000 in a pre-Seed round to develop safer, more efficient and sustainable lithium-ion batteries. The raise was led by Artesian with participation from Investible, Electrifi Ventures, angel investors John Wood, Christiaan Jordaan, and Steven Vassiloudis, as well as Voltavate chair Reza Behnam. Founded in 2023 by Dr Amir Hooshang Taheri and Omid Javad, Voltavate aims to address critical performance and sustainability challenges across the energy storage value chain.
Lyrebird Health raises $12 million
AI transcription platform Lyrebird Health has raised $12 million in funding to accelerate product development and international growth. The Melbourne-based company, which uses AI to generate clinical documentation from doctor-patient conversations, is now valued at $50 million.
The round was led by Five V Capital and UK-based Octopus Ventures, with support from Startmate. The startup says its tool saves clinicians 6–8 minutes per consult and allows them to see more patients. The funding will support integration with electronic medical record systems and expansion into the UK and Middle East.
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