Fertiliser maker PlasmaLeap, which recently raised $2.9 million to support commercialisation of its ammonia production method, has claimed that it could save Australia’s farmers $400 million annually. In a statement on Monday, PlasmaLeap said it is trying to displace the Haber–Bosch process, which was developed early in the 1900s and remains the dominant way of…
With almost $4 trillion in Australian superannuation assets, that pool of capital is sometimes cited as an untapped resource for worthwhile but underfunded causes, such as developing high-tech local businesses. Encouraging just a small portion of this to find its way into tech startups is a popular idea — one sometimes advocated by contributors to…
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…
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…
Gravitational energy storage developer Green Gravity has secured $9 Million in funding with strong backing from existing and new major strategic and financial investors. The company, which is repurposing legacy mineshafts for utility scale long-duration energy storage, secured financing from investors including HMC Capital, BlueScopeX, Pacific Channel and Sumisho Coal Australia Holdings (SCAP H, a…
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,…