FUNDED January 2023

techboard

Welcome to the January 2023 edition of FUNDED.  We are a little later than usual with this edition... we have been a little focussed on FUNDED 2022 and our new Fintech Funding Project. 

Australia’s tech scene kicked of the year with $451m in total funding for January, $379m of which comes from 30 venture capital deals. Almost half of that amount comes from one megadeals, Xpansiv’s $181m raise. January’s VC funding Funding levels were subdued as usual for a January with VC funding down $59m less than December 2022.

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Missed out on FUNDED 2022 - our review of Australian Startup Funding in 2022? See it now at the link below.

So what happened in January 2023?

We have published our latest capture to the Techboard platform which is accessible to our commercial subscribers For access to our full data capture, sorted, catalogued and full searchable, inquire about a data subscription.

Who’s been FUNDED?

Xpansiv Data Systems was the only company to close a $50m+ funding event in January with their $181m coming from Atlas Merchant Capital,Bank of America and Goldman Sachs in the US, Europe’s Vitruvian Partners and Australia’s Aware Super. Xpansiv is now valued at $2b which is the valuation they were chasing early last year when they were planning to go public.

Deals by Industry Sector

The most significant sectors for January 2023 are Climatetech, Fintech and Healthtech, which between them accounted for $309m or over 80% of private investment for January.

ClimateTech saw eight funding events for the month of January, led by the massive round for Xpansiv. Other notable deals were:

Rumin8 , a climate-tech startup, which closed a $25m Seed raise. Read more...

OpenSolar, a renewables software startup, which closed a $22m Series B raise. Read more...

Enova Energy, a decentralised energy retailer, that raised $1m from 611 CSF investors via Swarmer. Read more...
Vaulta, a battery tech startup, secured $1m from ReNu Energy Read more...

Relectrify, an energy storage startup, that secured an undisclosed amount from Toyota Ventures and Creative Ventures. Read more...

Techboard captured fifteen funding events for Healthtech/Biotech companies totalling $58.8m. The largest round for the month was CurveBeam AI, a bone fragility imaging tech startup, which closed a $25m Pre-IPO raise.Read more...

Other funding events captured included:
Ferronova, a biotech startup, closed an $8m Series B raise and been awarded a $3m Co-operative Research Centers Project (CRC-P) grant.
Sementis, a viral vector vaccine platform, was awarded a $3m CRC Projects Grant.
Vaxxas, a biotech startup, was awarded a $3m CRC Projects Grant.
Vedi, a digital animal medical record startup, closed a $3m raise.

 
Hnry, an accounting software startup, closed a $35m Series B raise from Airtree, Athletic Ventures and Left Lane Capital. Read more...
School payments fintech, Alii, closed a $2.5m Pre-Series A raise. Read more...
Novatti Group, a cybersecurity fintech, was awarded a $2.3m CRC Projects Round 13 Grant. Read more...
Collective Shift, a crypto content platform, closed a $1.5m raise. Read more...
Aussie Angels, a platform for investment syndicates, closed a $1.4m Seed raise. Read more...
Bloom Impact Investing, an impact investment fintech, closed a $525k Seed raise. Read more...
NFT Gaming platform Balthazar NFT Gaming, raised a further $2m USD in a Token Sale Read more...

Also in Fintech News, regtech Kyckr, has been acquired by Richard White for $43.5m. Read more...

The Fintech Funding Project

During 2023 Techboard will be undertaking a project focussed on fintech funding. We will be aiming to identify and classify all privately owned Australian registered fintech companies and tracking their capital raises to build the most comprehensive picture of capital flows in the fintech ecosystem.

This project will produce a valuable dataset available to Techboard's customer and partners and will provide multiple opportunities for exposure on reports and at events.

Please get in touch if you are interested in knowing more or being involved.

Women Led Ventures

Two solely women-led ventures closed funding rounds in January. Fingerprint For Success, a generative AI startup, closed a $9m Seed raise (read more) and Morsl, a food tech startup, closed a $5m funding round (read more)

Two startups with mixed gender founding teams (at least one woman founder) had significant raises, Hnry, an accounting software startup, (read more) and Rumin8 (read more).

Deal Size and Spread

Acquisitions and IPOs

In addition to the acquisition of Kyckr covered above, Bambody, an underwear eCommerce startup, has been acquired by US based Heyday for an undisclosed sum. Read more... and Acusensus, an automated camera enforcement startups, listed in the ASX with a $20 IPO. Read more...

Other deals (for our paying subscribers)

Details of all deals we capture are available on the Techboard platform for our paying subscribers. inquire about a data subscription.

Who Funds the Funders? - Fund News

LaunchVic has opened expressions of interest for their 30x30 2023 cohort. Read more...
The New South Wales Government has announced a $40m Biosciences Fund. Read more...
The New South Wales Government has announced a $7m quantum computing commercialisation fund. Read more...
Tin Alley Ventures, a Melbourne University VC fund, raises $100m and expects to raise $100m more. Read more...