Conflux Technology secures $11 million in Series B round

3D printed automotive, aerospace and drone heat exchanger manufacturer Conflux Technology has secured $11 million in its Series B funding round, led by the Victorian government venture capital arm Breakthrough Victoria. Breakthrough pledged $5 million along with investors AM Ventures and Acorn Capital, with the cash to be used to accelerate development of its Conflux…

Breakthrough backs bug business Viridian with $2.5 million investment

Derrimut-based Viridian Renewable Technology, which produces fertilisers and insect-based protein ingredients for pet and animal feed, has received a $2.5 million investment from state government-backed venture fund Breakthrough Victoria Located in Melbourne’s western suburbs, Viridian plans to up factory capacity over the next 12 months and take on 15 employees. The plant will supply “over…

Breakthrough Victoria CEO steps down

Grant Dooley, the CEO of state government-backed venture fund Breakthrough Victoria, has announced he is resigning after almost three years in the role. “The opportunity to serve as Breakthrough Victoria’s inaugural CEO is one that I will forever cherish,” said Dooley in a statement on Friday morning. “In just under three years, BV has been…

Breakthrough Victoria invests in silicon chip company MILLIBEAM

Breakthrough Victoria is investing $3 million in fabless semiconductor company MILLIBEAM, aiming to accelerate the development and global adoption of millimetre wavelength (mmWave) radio chipsets for 5G/6G communications networks. The investment from Breakthrough Victoria will significantly bolster MILLIBEAM’s operations in Melbourne, with the company planning to hire an additional four specialised systems engineers and five…

Liquid Instruments attracts $15 million investment, will hire “dozens” at upcoming Melbourne site 

Breakthrough Victoria, which manages a $2 billion investment fund on behalf of the state government, has announced that it is investing $15 million in software-defined test instrumentation company Liquid Instruments. The company’s devices are described as using field-programmable gate arrays (FPGAs) and software to create more adaptable instrumentation, “providing up to fourteen different instruments accessible…

Neo-Bionica makes two new board appointments

Medical technology developer and contract manufacturer Neo-Bionica, which announced an investment of $5 million from Breakthrough Victoria earlier this month, has announced two new board appointments. In a statement on Monday, the company said it had added Stéphane Chatonsky and Dr Colin White as non-executive directors. “Their extensive expertise in innovation in MedTech, strategy and…

Breakthrough Victoria backs Neo-Bionica

Bioelectrical medical device developer Neo-Bionica has secured an investment of $5 million from Breakthrough Victoria, which will accelerate its growth both domestically and internationally. Neo-Bionica is a Melbourne advanced MedTech manufacturer that specialises in providing commercialisation and manufacturing services to develop AI-powered implantable and wearable medical devices. The company’’s expertise includes developing devices designed to…