Startup Ranking #28

For the Period to 12 October 2017

Local fintech Crowdfundup tops this fortnight's ranking, having closed a $2.1m capital raise led by Positive Investment Enterprise. The startup will use the funds to roll out its property crowdfunding platform into China. Crowdfundup gained strong mindshare, in particular across social media platforms. This is Crowdfundup's first time in Techboard's top twenty.

Techboard spoke to Co-founder and CEO of Crowdfundup Jack Quigley who said:

"CrowdfundUP is ecstatic to have secured funding that will enable the business to expand rapidly into international markets. The success of the business could not have been achieved without the work of the entire team and our valued strategic partners at BDO and Positive Investment Enterprise."

Troubled streaming company Quickflix is the second highest trending company, as news emerged that is had been acquired by a US media company for $1.3m. The listed startup is currently in liquidation, having struggled to compete against Netflix in the Australian market. The acquisition will see it removed from the Techboard ranking, as it ceases to exist as an Australian company.MMJ Phytotech raised $4m from institutional and sophisticated investors, and is ranked third. The placement was over-subscribed, and comes as the medicinal cannabis company seeks to spin out its cannabis subsidiaries in a Canadian reverse takeover. MMJ hopes to gain access to the rapidly growing Canadian market, where the government is expected to soon legalise marijuana for recreational use.

KinChip Systems and All of Me are ranked fourth and fifth, as a result of their winning the state government's Start IT Up WA challenge. KinChip walked away with the lion's share of the funding on offer ($50k), for its Kindom app which provides child development informatics.

The founder of Kinchip Systems Catherin Resnick said:

"Kinchip Systems has never shied away from attempting to solve the big problems, and simplifying the child development ecosystem is one of them.

We're thrilled that the WA Office of the GCIO recognised the value and impact that Kindom could make to the W.A. community is putting its energy into supporting this initiative.

Through the Start IT UP WA Challenge we have an opportunity to make a positive change in our home state first, and we couldn't be happier."

Speaking to Techboard Sue Bahn from All of Me said: 

"All of Me is a spin out company from Tap into Safety which is developing early intervention mental health applications based on Tap into Safety's software. Our software uses animation to tackle mental health issues and provides a rating of individuals' stress anxiety and depression. All of Me is currently available for workplaces and schools and is in development for parents."

Other noteworthy startup accomplishments and milestones this fortnight include Metavone announcing an immiment $5m IPO, Touchline Connect and ePat making the finals of ACS' 2016 Digital Disruptor Awards and the the completion of the acquisition of ePat by MinQuest, Sentient Computing and Stirfire Studios presenting at the Perth Games Festival (sponsored by Healthengine), pitches at the Perth Angels by Storekat, Covocate, TheScreeningLab and Bombora Wave Power, and Newton Labs's co-founder Simon Vincent appointed entrepreneur-in-residence at CORE Resources Innovation Hub.