Australian quantum computing business Q-CTRL has announced the successful expansion of its Series B Funding Round to $166 million (USD$113 million) with $87.5 million of new capital. The Series B-2 all-equity funding round was led by global global late-stage venture firm GP Bullhound and saw a dramatic increase in valuation from earlier financing. Q-CTRL CEO…
The Western Australian government is attempting to improve its venture capital ecosystem, currently ranked second-last among all Australian jurisdictions, through a $30 million initiative intended to lure global VC funds to invest in the state. According to a description on the state government’s website, the Western Australian Venture Capital (WAVC) Initiative is open to firms…
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 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…
Plastic recycling startup Samsara Eco has raised $100 million in its latest funding round. Led by global investment company, Temasek and Australian deep tech investment fund, Main Sequence, funds also came from Wollemi Capital, lululemon, Hitachi Ventures, Titanium Ventures (formerly Telstra Ventures) and DCVC. The capital will help Samsara Eco scale its enzymatic recycling capabilities,…
Quantum computing processor developer Diraq has announced an additional $7 million USD in Series A funding, bringing the total round funding raised to $22 million. The company attracted further investment from strategic investors including Main Sequence, Taronga Ventures, Uniseed and UniSuper, Co:Act Capital as funding from foundation shareholder and research partner, UNSW, Sydney. Diraq’s Series…
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…
Clean energy company MGA Thermal has secured an additional $5.7 million in funding, taking its recent funding round total to approximately $14 million. The company, which is demonstrating the scale and industrial capabilities of its thermal energy storage systems, was supported by returning investors including Main Sequence, Melt Ventures and new investor JEKARA. The funding…
What were the five biggest stories of the week? Here’s what visitors to this site were reading. 5) Gilmour Space raises $55m, Eris rocket heads for space The historic launch of an Australian developed and manufactured rocket is closer with Gold Coast-based Gilmour Space Technologies closing a $55 million Series D capital raise ahead of…
Textile recycling company BlockTexx has announced completion of a $7 million Series B round. BlockTexx said in a statement that funding came from existing investors and fashion innovation platform, Fashion for Good. Return investors include Artesian and seed investors Mike and Sue Gregg. The company is scaling up its novel chemical process, which is able…
