🇦🇺 This Week in Australian Startups #118, 8th June 2025
Top News
Queensland approves PsiQuantum funding for $1bn computer (The Australian)
11 deep tech startups have finished a 3 month accelerator run by the CSIRO, with the most recent cohort raising more than $33.8m in grant funding and capital investment (SmartCompany)
Australia has outgrown its early-stage VC tax breaks, Tech Council says (InnovationAus)
StrongRoom will be wound up as EVP names the startup’s early investors as defendants in expanded legal action to recover $10.4 million (Startup Daily)
Google and Chile sign deal for sub cable linking South America with Australia (Capital Brief)
Quantum physicist and deeptech startup founder Professor Michelle Simmons has joined the board of The Tech Council of Australia (Startup Daily)
SA funds ‘proof of value’ AI trials, sets up new VC fund (InnovationAus)
Sports-tech Catapult has acquired US-based athlete monitoring company Perch in a deal that could be worth up to US$28 million ($43 million) (BNA)
Tanarra Capital has sold Health Metrics, a client record software platform that focuses on operators in aged care and disability sectors, to California-headquartered Accel-KKR (AFR)
Tetratherix, a medical device company backed by Xero founder Rod Drury, is set to make its ASX debut later this month (AFR)
Tyro CEO Jon Davey to depart in shake-up for major payments player (SmartCompany)
What Apple’s 30% App Store blow means for Australian businesses (SmartCompany)
$130K In Grants To Boost WA Biomedical Startups (Startup News)
Victorian govt mulls defence tech shift for VC fund Breakthrough Victoria (InnovationAus)
Industry Minister Tim Ayres signals a bigger role for unions over AI use at work (AFR)
NinjaOne, an IT management platform, completes a $424m acquisition of Dropsuite, a backup and data protection provider (Capital Brief)
Phocas sells to California’s Accel-KKR for $500m+ (AFR)
Unions call for federal procurement boycott of Big Tech (InnovationAus)
Koala pulls $100m IPO, plans to sleep through Trump tariffs (AFR)
Koda Capital shifts focus to smaller VC funds for better returns (Capital Brief)
Turo names Rob Chan as Australia MD, replacing Tim Rossanis (Capital Brief)
How a $60m computer called MAVERIC could change Australia’s AI future (AFR)
Funding Rounds
Termina, an energy management platform that helps multi-site businesses reduce costs by automatically switching to the best available energy pricing, has raised $3m in a Pre-Series A round from EVP, Archangel Ventures and Skalata (Capital Brief | Startup Daily)
Superhero, a superannuation and share trading platform, has raised $11m from existing investors (Capital Brief | John Winters | AFR)
Five Faces, which digitises consumer journeys for organisations that delivery complex services such as healthcare providers and government departments, has raised $1m in a Series A round from Utiliti Group and Female Founders Co-Investment Fund (ARN)
Uptick, a job management software for fire, safety, security, and field service professionals, has raised an undisclosed amount from PSG (businesswire)
Springboards, an AI platform designed for creative professionals in advertising to assist teams explore more ideas rapidly, has raised undisclosed amount from Angel Investors (AdNews | Pip Bingemann)