Four Aussie startups that raised $29 million this week
The first week of March has seen fresh capital flowing to startups in the healthcare, agtech and clean energy sectors.
The first week of March has seen fresh capital flowing to startups in the healthcare, agtech and clean energy sectors.
Here’s four Australian startups that raised millions in new funding this week.
Kismet: $12.5 million
Melbourne-founded healthcare startup Kismet has secured a seed funding round of $12.5 million, led by global consumer internet group Prosus Ventures and venture capital firm Airtree Ventures.
Kismet was launched 12 months ago with a mission to make healthcare more accessible. Its healthcare app and digital community platform is designed to remove the administrative burden that often falls on caregivers when searching for services for their loved ones.
Kismet was founded by Xplor founder Mark Woodland along with Stefan Cordiner, Lauren Grimes, Sam Armstrong and Mathew Ellis.
The startup previously raised $4 million in pre-seed funding in mid-2023, in a round led by Airtree, Black Nova and Flying Fox. To date, it has raised $16.5 million.
Speaking to SmartCompany, Woodland said the latest funding will go towards building more awareness of Kismet and increasing its customer base.
“It’s being used to grow our consumer base in the marketplace more, attending more events, supporting those with a disability and advocating for them as we start expanding beyond the Australian shore,” he explained.
Jupiter Ionics: $9 million
A Victorian startup that has developed a way to produce green ammonia using electrolytic cell technology has raised $9 million in Series A funding from a combination of new and existing investors.
Jupiter Ionics was founded by Professor Douglas MacFarlane and Dr Alexandr Simonov in 2021 and its carbon-neutral ammonia has potential widespread application in fertilisers used in the agricultural sector. Its use could vastly improve the sustainability of global food production and aid the broader energy transition.
New investors to participate in this funding round include Wesfarmers Chemicals, Energy & Fertilisers, CIMIC Group and Breakthrough Victoria, the latter of which contributed $4 million in the round.
Existing investors Tenacious Ventures, Monash Investment Holdings, JCVC and Olabella also participated in the funding round.
Jupiter Ionics CEO Dr Charles Day confirmed to SmartCompany the company currently employs a staff of 15 from the startup’s base at Victoria’s Monash University.
This number could increase by as many as 19 new jobs, according to a statement from Breakthrough Victoria.
“Jupiter Ionics is proud of its origins in one of Victoria’s world-class universities, and energised by the impact we can deliver both within Australia and globally,” Day said in the statement.
“We are therefore delighted that Breakthrough Victoria has decided to support our ongoing mission to accelerate the transition to a net-zero future”.
Jupiter Ionics says the funding will help it scale its self-contained system that takes in water, air and renewable energy and produces ammonia.
“We’ve made great strides over our first few years as a company, and this investment will help us integrate our technology into larger prototypes and accelerate our path to market,” Day added.
Gridcog: $6.4 million
Western Australian clean energy software startup Gridcog has secured £3.3 million ($6.4 million) in new funding, in a round led by UK-based, early-stage investor AlbionVC.
Gridcog was founded in 2020 by Pete Tickler and Fabian Le Gay Brereton as a platform to help companies simulate and track clean energy projects, so they can assess the best solution for their needs.
The goal is to improve the transparency, efficiency, and commercial viability of complex projects that previously relied upon the use of multiple specialist tools, spreadsheets and consultants.
While based in Perth, the business has customers across Australia, New Zealand and Japan, and its client list includes the likes of Shell, Mitie and EY.
The new funding will be directed towards the startup’s expansion in the UK and Europe, which is being overseen by Genna Boyle. The company says its revenue from the region has increased fivefold over the past 12 months and it now accounts for more than 60% of the company’s inbound leads.
“The common thread between all our clients is a desire to invest into the energy transition,” said co-founder Pete Tickler.
“They want to play a role in building a more sustainable energy future, yet are facing hurdles at almost every turn. Exactly what assets they’re investing in vary – from large-scale solar and storage to EV fast-charging networks –but the problem is the same: with hundreds of ways a project could be developed, which one is best? Identifying the winning play requires sophisticated techno-economic modeling which only Gridcog provides, while also removing the complexity, costs and confusion around these investments”.
Anni: $1 million
Diranne Lee-Renwick, founder and chief executive officer. Source: Supplied.
Perth-based on-demand wellness advice startup Anni has raised $1 million in seed funding to expand its marketplace for connecting patients with wellness and health experts.
Anni was launched in October 2023 by founding partners Diranne Lee-Renwick, Anna Lee-Renwick and Timothy Smith, with a goal of stopping Australians from languishing on specialist waiting lists for months or even years for appointments.
The private funding comes from unnamed high-net-worth individuals and family funds.
Anni says the funding will go towards bolstering its Advice-as-a-Service (AaaS) platform, including by adding online video consults, digital goods, including downloadable meal plans and fitness guides, and distributed cross-platform on-demand advice.
