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…
By Peter Roberts The Queensland government is getting back in the venture capital game and directly investing in young – and inherently risky – businesses. State owned VCs have been on the nose since the failure of the Victorian Economic Development Corporation and subsequent abolition in 1993, its demise as much a result of the…
Sydney-based quantum computing startup Diraq has completed a Series A-2 capital raise of $29 million (US$15m) to advance the company’s R&D initiatives to realise the full potential of quantum computing. The funding for Diraq, a leader in quantum computing based on silicon quantum dots, was led by Paris-based specialist investor Quantonation with participation from John…
Gaia EnviroTech welcomes new investors in decarbonisation Gaia EnviroTech management and team has hosted key investors at its first board meeting following the recent equity investment in Gaia EnviroTech by RFC Ambrian Funds Management (RFM). Bioenergy decarbonisation developer Gaia EnviroTech was spun out of Ballarat, Victoria based Gekko Systems in 2023 in advance of capital…
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…
University investment group Uniseed is looking for new venture finance managers following its expansion, with five new universities backing its commercialising efforts. Uniseed is now searching for people to fill new roles of Investment Manager (Technology) in Melbourne and an Investment Manager (Biotechnology) in Sydney. Uniseed’s existing partners are the long established universities of Queensland,…
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…
