🇦🇺 This Week in Australian Startups #103, 2nd February 2025
Top News
Atlassian surges after 30% subscription growth and strong guidance (Mike Cannon-Brookes | Capital Brief)
Beforepay delivers continuing strong profit and growth, breaking through $10m in quarterly revenue and sets new active-user records (Australian FinTech)
Brisbane-based cyber security firm Assetnote acquired by Searchlight Cyber for $100m (BNA)
Competing Google ad tech class actions face 'carriage contest' (Capital Brief)
Kite Magnetics to build advanced manufacturing facility in Melbourne for electric motor technology (BNA)
Assetnote has been acquired by Searchlight Cyber for $100m (AFR)
LaunchVic is offering a $300,000 to VCs who to set up shop in the state to back local startups (Startup Daily)
Airtasker revenue rises as marketing blitz sends earnings into the red (BNA)
Atlassian is now allowing staff to cash out shared after three months instead of one year - in order to attract more top talent (AFR)
Elmo Software’s owners shelve sale as Bain Capital walks (AFR)
NinjaOne buys Dropsuite for US$252M (ARN)
The federal government has awarded $6.4m to an industry-funded cyber threat intelligence network to establish a information sharing and analysis centre for the healthcare sector (InnovationAus)
Amber acquires EV charging platform firm Charge HQ (Amber | Capital Brief)
Square Peg's portfolio grows to $5.1 billion, boosted by exits and reduced writedown provisions. (AFR)
Tanarra Capital to sell majority stake in healthcare software firm Health Metrics for up to $400 million. (AFR)
Fuzzy Sequence, which drives B2B revenue growth by automating outreach and personalising engagement at scale, has been shortlisted on Meet the Drapers to pitch for $1M (Serena Lam)
Applications are now open for Pitch Palooza, the search for Australia’s best AI pitch with over to $20k in partner perks across Google Cloud, Vanta, Notion and more (Pitch Palooza)
Funding Rounds
Diag-Nose.io, a biotech startup focused on translating the complexities of the unified airway into precision diagnostic and drug discovery solutions, has raised $3.15m in a Seed round from Breakthrough Victoria, Radar Ventures, Speciality Physician Associates and Angel Investors (Eldin Rostom | BNA | SmartCompany)
MyGigster, a fintech the helps gig economy workers track their income and spending to build financial security, has raised $1.1m in a Seed round from Angel Investors (Benjemen Elengovan | BNA | Startup Daily)
Qsic, an AI-Driven in-store audio platform specifically designed for enterprise retail & brands, has raised $40.12m ($25m USD) in a Series B round from Hedosophia (Matthew Elsley | SmartCompany)
Harrison.ai, a healthtech startup that develops AI diagnostic solutions aiming to scale global healthcare capacity and improve patient care, has raised $32m in a Series C round from The National Reconstruction Fund (InnovationAus | Capital Brief)
Spoony, a community platform revolutionising support for neurodivergent and disabled individuals, has raised $1m in a Pre-Seed round from Antler, Melba Support and Trampoline (BNA | Startup Daily)
MCi Carbon, transforms carbon emissions into valuable materials for the circular economy, has raised $8.02m ($5m USD) in a Undisclosed round from Ube Cement (MCi Carbon | NIKKEI)
Healthy Mend, who makes Vigilis a Governance Intelligence AI tool, has raised $2.5m (Direct)
EARTH AI, predictive explorer for clean energy metals using AI, has raised $32.09m ($20m USD) in a Series B round from Tamarack Global, Cantos Ventures, Overmatch, Alpaca, Sparkwave Capital, Y Combinator and Scrum Ventures (PR Newswire)