Breakthrough Victoria has emerged as an investor in US-based “stratospheric exploration company” World View to the tune of $37 million, with the Arizona-headquartered company planning to establish a manufacturing operation and hire “up to 200” in Victoria. The investment vehicle for state government funds made the announcement on Friday morning. It shared that World View…
Solar cell manufacturer and renewable energy project developer RayGen Resources has completed a $51 million capital raise, led by oil and gas services company SLB. In a statement on Monday from state government investment vehicle Breakthrough Victoria – which contributed $20 million through the round – it said that RayGen would use the funding “to…
Rio Tinto spends up big with local suppliers Rio Tinto increased its spend with suppliers and local businesses in Australia to more than $16.1 billion in 2023, as part of the company’s commitment to support communities where it operates. This was an increase of five per cent on the previous year and was spent with…
Jupiter Ionics — which is commercialising an emissions-free, electrolysis-based method to create ammonia — has announced a $9 million capital raise, with Wesfarmers Chemicals, Energy & Fertilisers, CIMIC Group, and Breakthrough Victoria joining original investors. The company said in a statement on Monday that funding will go towards “accelerating the scale up of a self-contained…
What were the five biggest stories of the week? Here’s what visitors to this site were reading. 5) Japanese made campervans entice Aussie grey nomads What do you do when you are an Australian company that has carved out a niche for itself manufacturing campervans in Japan for the Japanese market? Well, you export those…
The Victorian government-funded Breakthrough Victoria has made a $12 million investment into Aravax, part of a $66 million funding round in the biotechnology company, which is developing a novel peanut allergy treatment. Aravax is a clinical-stage company developing PVX108, its immunotherapy product that uses synthetic peptides to mimic key parts of peanut proteins to retrain…
Animal-free dairy manufacturer Eden Brew has reached a targeted Series A capital raising goal of $25m during its Series A capital raise, led by Main Sequence Ventures and the Victorian government. Eden Brew, which describes itself as a leading innovator in the alternative protein and precision fermentation sector, will scale the process of brewing proteins…
Breakthrough Victoria has announced an investment in Atmo Biosciences, a medical technology company that has developed capsules that are swallowed and electronically diagnose gastrointestinal disorders. Breakthrough Victoria — an independent company set up in 2021 to manage the state government’s $2 billion Breakthrough Victoria Fund — did not disclose the size of the investment. In…
The Victorian government has announced new co-investment partnerships with five Victorian universities, with $87 million in total to be allocated through the Breakthrough Victoria – University Innovation Platform program The new partnerships are with Deakin University, La Trobe University, Monash University, RMIT University and Swinburne University, and according to industry minister Ben Carroll “will help…
On Monday we published part one of this article, concerning what a scaleup company is and why they matter. Today we conclude by looking at what they need. By Brent Balinski. There are 25,000 tonnes of wet wipes thrown out by Australians every year, all made of polyester or polypropylene and therefore non-biodegradable, and almost…
