Two Aussie startups that raised $5 million this week
Learn more about two Australian startups, InvestorHub and Monty Compost, that collectively raised $5 million this week.
It has been a somewhat slower week for startup funding news; we’ve counted two startups that have announced a combined $5 million in new funding.
Keep reading to learn more about InvestorHub and Monty Composting Co.
InvestorHub: $4 million
Software startup InvestorHub has raised $4 million in Series A funding, building on its $4 million Series A round in May 2023.
According to The Australian Financial Review (AFR), InvestorHub also intends to raise another $1 million, which will bring its completed Series A round to a total of $9 million.
The startup was founded by Ben Williamson and Rhys Davis in 2017 and was initially called Fresh Equities. At the time, the startup’s profitable business model focused on helping ASX-listed small-cap companies with capital raising from existing shareholders.
However, the founders decided to pivot to a subscription business model in early 2022 and developed software for public companies to use for shareholder communications.
According to the AFR, InvestorHub is now valued at $34 million.
The latest funding round was led by EVP, with participation from Archangel Ventures and Flying Fox Ventures.
Monty Compost Co: $1 million
Brisbane-based startup Monty Compost Co has raised $1 million in fresh funding for its circular economy smart-tech solution.
According to Business News Australia, the startup is likened to a “Fitbit for your waste” and is applying Internet of Things (IoT) data analytics software to transform how organic waste is recycled.
Monty Compost Co was founded in 2019 by Ashley Baxter and has one other full-time employee, chief technology officer Junior Joyce.
The funding comes from Skalata, with Antler also participating via a newly inked partnership with the Queensland Investments Corporation (QIC). Angel investors also participated, as did early investor Uniquest.
Monty Compost Co has previously been backed by ACAC Innovation, Mandalay Ventures Partners and EnergyLab.
The startup has already built the Monty Monitor, a consumer product that can provide real-time data to home composters, and it is beginning to work on commercial projects with industrial composting facilities.
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