Six Australian startups that secured $94 million in capital this week
Australia has seen its biggest startup raise week of the year, with $94 million banked across these six startups.
We’ve had our first spicy week of startup raises for the year, folks. While the VCs have been investing since the start of the year, this is the first week we’ve really seen them throwing that cash around.
Q-CTRL: $39 million
The big winner for the week was Q-CTRL, with the quantum computing startup securing $39 million. This was led entirely by Salesforce Ventures, topping up Q-CTRL’s existing Series B fund, bringing it to more than $74 million.
Founded in 2017, the company builds quantum computing infrastructure software as well as solutions to help quantum environments. Its customers include the likes of IBM and NSW Transport.
It has also built out its product suite since launch, including quantum sensors for use in satellites.
Hnry: $35 million
Fintech startup Hnry was nipping at the heels of Q-CTRL, landing $35 million in Series B funding for its automated accounting system. We love a company that lessons paperwork.
The oversubscribed funding round included investment from AirTree Ventures, Athletic Ventures and Left Lane Capital.
FoodByUs: $12 million
Wholesale food supplier, FoodByUs has just received $12 million in investments, led by Base Capital. It was joined by existing investors such as Macquarie Capital, Trawalla Group and F J Labs.
Founded in 2016, the company acts as a platform between wholesale suppliers and food establishments. According to the company, the fresh cash injection will be used to help grow headcount, particularly in the product, marketing and sales teams.
Fingerprint For Success (F4S): $5 million
Professional coaching startup, F4S, has just announced a $5 million raise led by Investible, with participation from Five V Capital and Salesforce Ventures. This brings its total funding to date to $9 million.
The capital will be used to accelerate the product development of its Generative AI Coach ‘Marlee’. It offers digital, scalable solutions for companies as well as individuals aimed to improve performance.
F4S says its aim to democratise coaching by using technology to drive human development. According to the company, Marlee has clocked over 900,000 AI coaching hours to date.
F4S clients include Atlassian, Hubspot, AWS, KPMG and Canva.
STRAAND: $2 million
Haircare startup, STRAAND, has landed $2 million in pre-seed funding led by Unilever Ventures.
Launched in July 2022, STRAAND is focused on scalp health without the use of chemicals. The company says it’s Australia’s first microbiome haircare brand that addresses concerns like dandruff, product build-up and even hair loss with its probiotic product.
The company will use the investment to expand into the US, UK, Europe and China.
Lenexa Medical: $1 million
Medtech startup Lenexa Medical has received $1 million in Pre-Series A funding led by Stoic VC.
The company offers a proprietary patient monitoring system, LenexaCARE, that is focused on combating pressure injuries that occur in medical facilities.
According to Lenexa, there are 300,000 pressure injuries throughout Australia every year. In addition to being potentially life-threatening, Lenexa says it costs the healthcare system billions of dollars.
LenexaCARE includes a smart sheet attached to a mattress that then monitors and communicates patient information to clinicians and carers.
The funding round will go towards production and product rollout to hospitals and aged care facilities.
