This week, Australian startups have been making waves in the funding scene, with e-commerce platform Little Birdie securing $30 million in funding from CBA. Collabosaurus founder Jessica Ruhfus also shared her success story of bootstrapping her way to profitability without any external funding.
But that’s not all – there have been other exciting developments in the medtech and fintech sectors, as well as a noteworthy equity crowdfunding campaign for a property management digitisation business.
Additionally, a new unicorn has emerged in the US solar energy industry, adding to the growing list of successful startups in the green energy space.
Don’t miss out on these funding updates!
Mx51
mx51, a fintech company that offers a secure, white-label payments platform, has raised a substantial $25 million in a Series A funding round. The company was launched in partnership with Westpac after being spun out of Assembly Payments in 2020. Its platform, which is designed to compete with Stripe, Tyro, and Square, has already facilitated $1 billion in transactions, and that figure is expected to grow ten-fold within the next year. The funding round, which was led by Acorn Capital, Artesian, Commencer Capital, and Mastercard, marks the first major capital injection for mx51. In a statement, mx51 CEO Victor Zheng expressed his excitement about the company’s future growth potential.
Artrya
Artrya, a medtech startup based in Perth, has secured $15 million in funding to further develop and commercialize its AI imaging software that detects early signs of heart disease. The technology uses AI to analyze images from cardiac CT scans and produce a 3D image that can highlight the presence of vulnerable plaque, which is known to cause heart attacks. The funding will be used to support the startup’s move into pilots and commercial usage in Australia and to apply for international regulatory approvals, with plans to expand into international markets next year. The funding was provided by Thorney, Watermark Funds Management, Washington H. Soul Pattinson, Regal Funds Management, and SG Hiscock.
Instarent
Instarent, a self-management property app, has exceeded its minimum target of $150,000 in a Birchal equity crowdfunding campaign, raising just over $209,000. With 15 days left of the campaign, Instarent is edging towards its maximum target of $1 million. Co-founders AJ Chand, Aron Akca, and George Kuberlis have created a tool that enables landlords to manage digital documents, track accounts, advertisements, and inspections, book in repairs, and give notices, as well as communicate with tenants. Instarent also offers paperless EOFY reports and tenancy renewal agreements while maintaining security and confidentiality. The successful raise coincides with Birchal announcing it has surpassed $50 million in funds raised for startups, with over 75 completed campaigns since launching in December 2018.
Aurora Solar
Aurora Solar, a US-based solar software startup, has raised a substantial $250 million in a Series C round. The funding comes after the company secured $50 million in a Series B round in November. Aurora’s valuation is now estimated to be around $2 billion. The startup was founded by Sam Adeyemo and Chris Hopper after they graduated from Stanford University. It streamlines the sales and planning process for solar panels by utilizing cutting-edge technologies like photovoltaic system design, lidar shade analysis, and AI-assisted 3D modeling. Before providing customers with a quote, it assesses the costs and benefits of the system. According to Adeyemo, the funding is a testament to the magnitude of the problem and the demand for technology to solve it. He stated in an interview with Forbes that investors are always seeking solutions to major issues, and this large Series C is evidence of that.
