Six Aussie startups that raised more than $54 million this week
It’s been another big week for Australian startup raises, with over $54 million invested across six companies.
Another week, another round of startup raises! The VCs weren’t cutting sick as hard as last week, but there have still been some tidy cash injections amounting to more than $54 million.
Sapia.ai: $17 million
Sapia.ai topped the list this week with a $17 million Series A round led by Macquarie Capital and W23 venture, Woolworth’s VC arm.
The company has developed a recruitment platform that uses ‘ethical AI’ as well as real-life interviewers to help determine candidates for a job and offer feedback to people on how they answered questions so they can improve in the future.
“Woolworths Group is always recruiting and we see tens of thousands of applications processed annually in our supermarket business. This new technology positively impacts bias during the recruitment process,” Ingrid Maes, managing director of W23, said in a statement.
“Not only does it provide a flexible platform for our recruitment teams, we’re really pleased with the experience our applicants have in the process ultimately delivering the hiring and equality outcomes we strive for across the group.”
Abyss Solutions: $15 million
Abyss Solutions has secured $15 million led by AirTree Ventures and joined by Australian Retirement Trust.
Launched in 2014, the company has developed automated corrosion analytics tools for critical infrastructure. But its robotics and automation-driven technology solutions aren’t just limited to the ground.
The team of scientists and engineers have also adapted their tech to be able to inspect underwater infrastructure that was previously considered too inaccessible, including dams, canals and bridges.
The team is also looking to the stars, developing technology to work with companies working in space.
HMC Group: $15 million
HMC Group has received a $15 million cash injection from the Australian Business Growth Fund (ABGF) with a referral from CBA.
The aviation and tourism services provider will utilise the raise to further grow its fleet and expand its network infrastructure. Pushing into Western Australia is one of the key goals.
“We are delighted to partner with ABGF. I know their team will challenge us on our ideas and provide invaluable corporate experience to assist our businesses to grow,” Michael McConachy, managing director of HMC Group, said in a statement.
“My aim is to leave a worthwhile legacy in the state of WA, knowing that we have contributed something of value to the regional communities in which we live and operate, and the state as a whole. We look forward to further increasing our regionally based operations.”
eQ8: $5.5 million
eQ8 has received $5.5 million $5.5 million led by Go1 and OIF Ventures.
Launched in 2014 by former Qantas and NBN executives, Alicia Roach and Chris Hare, eQ8 is a strategic workplace planning SaaS platform that utilises algorithms, predictive insights and analytics to optimise workplaces and their employee skills.
It also goes beyond the present to help predict the future workforce needs of a company.
Oceanfarmr: $1.45 million
Bateman’s Bay tech startup, Oceanfarmr has landed $1.45 million led by Katapult.
The ‘Google Maps of the ocean’, Oceanfarmr is the brainchild of a former marine biologist and oyster farmer, Ewan McAsh. Designed for aqua farming, the platforms allow intelligent monitoring of ocean-based farms that can map and geolocate the likes of mussels, seaweed and oysters.
Subpod: $800,000
Byron Bay startup, Subpod, has raised $800,000 after having a huge year yielding more than $6 million in sales.
The company launched in 2019 and offers a three-in-one modular compost system, worm farm and garden seat that is now sold in more than 26 countries.
