This funding report only includes funding events (including equity, debt, acquisition, and grants) confirmed in the September 2017 quarter, involving startups and young tech companies which are eligible for a listing on Techboard. Data is collated by the Techboard team from public sources and through its relationships with investors, VCs and angel groups across the country. In particular Techboard would like to thank Melbourne Angels, Brisbane Angels and Perth Angels for their on-going collaboration.
By Rafael Kimberley-Bowen
Over 130 Australian startups and young tech companies raised over $665m in funding in the September quarter. Half of this was raised in Queensland, though the proportions are skewed by a NAB $300m debt facility for NEXTDC. Excluding this one deal, NSW actually raised more than any other state, with $190m flowing to over 50 companies, with venture capital the dominant source.
In contrast, WA's main source of funds was the ASX, with five share placements, two IPOs and a reverse take-over netting over $37m for local startups.
In addition, Perth startup Power Ledger launched the country's first Initial Coin Offering at the end of the quarter. The solar energy trader raised $17m in a pre-ICO event and went on to raise a further $17m in the ICO, though this latter amount was excluded from our report as it closed only last week.
Victorian startups raised roughly the same amount through the ASX as through venture capital, with fintech the dominant sector. Online lender Banjo received a $20m revolving loan facility from The Aura High Yield SME Fund, and Study Loans and Bitcoin.com.au raised $2m and $0.8m respectively.
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