🇦🇺 This Week in Australian Startups #137, 9th November 2025

$491.9m raised across 7 rounds, Nucanon and Butter Insurance announce they've both been acquired, Carma lists on the ASX, Olivia Sioud becomes the youngest VC partner with Skip Capital

News

M&A, IPOs & Exits

• Sydney-founded cybersecurity group Bugcrowd acquires Mayhem Security, a pioneer in AI offensive security developed by hackers (BNA)

• Carma shares slide on ASX debut following $100m IPO (Capital Brief)

• Sydney-based edtech Cluey launches $4.5m ca…