Six Aussie startups that raised over $19 million this week
This week is a little more modest than our last funding roundup. But we still have six cracking Aussie startups getting the cash they absolutely deserve.
Last week we saw more than $114 million in cash being thrown around. Seven days later and it’s been much quieter, but that doesn’t mean there aren’t some cracking Aussie startups getting the cash they absolutely deserve.
Quasar Satellite Technologies: $6 million
Main Sequence Ventures has led a $6 million Series A round for Quasar Satellite Technologies. It was joined by PAN Group and Marc and Lindy De Stoop of Climatech Group.
The company launched in 2021 in partnership with CSIRO. Its aim is to provide scalable and cost-effective ground station solutions for space communications. Its customers are able to access its patented multibeam and all-digital phased array ground station system through its SaaS model.
Quasar plans on using the fresh cash injection to fast-track a recently-announced $5.3 million Defence Innovation Hub contract. It is also looking to add ten more headcounts to its team.
“Quasar will launch our true multi-beam Generation 1 digital phased array technology later this year,” Phil Ridley, CEO and founder of Quasar, said in a statement.
“Our world-first technology was born from the CSIRO’s radio-astronomy division and this foundation technology will help us change space communications forever.”
Nexl: $4 million
CRM startup Nexl has netted $4 million in a raise led by EVP and joined by Vulpes, Saniel Ventures and The Legal Tech Fund.
The business was launched in 2019 with $820,000 in seed funding by Phillip Thurner — the former head of innovation at Gilbert and Tobin law firm.
The idea of Nexl is to grow revenue and cut down on data entry for legal practitioners by automatically capturing all interactions — such as meetings, client referrals, emails, and more — and turning them into actionable insights.
MoreGoodDays: $3.5 million
MoreGoodDays, a chronic pain management startup from Melbourne, has received $3.5 million led by Blackbird Ventures and joined by Giant Leap, The Snow Foundation and the Alice Anderson Fund.
The business was co-founded by Neala Fulia and Helena Ngo in 2021 to offer chronic pain suffers personalised programs completely at home. Its 12-week program allows users to go at their own pace and includes personalised coaching, pain management strategies and guidance from professionals.
The idea behind MoreGoodDays is to close the gap between affordable and accessible healthcare.
DAS: $3 million
Agri-fintech startup DAS has landed $3 million led by the venture arm of Canadian telco, TELUS. It was joined by Startmate, IAG and the CSIRO.
DAS provides location intelligence for financial services, integrating data insights, software and CRM. Its aim is to provide customers with the tools in one place to help them lend, invest and allocate capital in a different way in a dynamic climate.
“This is a significant milestone and marks the beginning of a relationship that we believe is of great mutual benefit, with good growth synergies and commercial opportunities. Partnering with TELUS Ventures will enable us to scale our ambition, globally,” DAS co-founder and CEO, Anthony Wilmott, said in a statement.
Our Cow: $2.09 million
Meat subscription service, Our Cow, has raised $2.09 million via the equity crowdfunding platform Birchal.
Launched in 2019, Our Cow is generating roughly $20 million in annual recurring revenue from more than 50,000 customers. It also recently acquired former grocery delivery startup Voly, pivoting it into an online farmers market.
According to the company, the raise was largely thanks to its customers, with more than $100,000 pledged in the first 15 minutes of the offer opening.
The company will be utilising the funds to help expand its delivery business across Australia.
Kommunity Brew: $524,000
Sticking with equity crowdfunding, beverage startup Kommunity Brew has raised over $524,000 at Bichal. Kommunity Brewing Co focuses on probiotic fermented drinks and not only owns Kommunity Brew but other brands such as Cold Matter, Altered Cultures, Higher Minds Beverages, HIDEF Drinks, Liquid Drip Hydration and Cannabliss Beverages.
CEO Mason Bagios said that the business doubled its target for the raise
“The gritty fact is that we started this business with $15k, an 18-square-meter shed, selling unlabelled drinks door-to-door in Fremantle. What will our company achieve with half a million $AUD,” Bagios said on LinkedIn.
