Two Australian startups moved nearer to unicorn standing this week, after revealing new funding rounds that gave their valuations a wholesome enhance.
This week’s funding round-up is led by Heidi Well being’s $98 million Sequence B spherical and Octopus Deploy’s $45.6 million funding, though the latter was secured in 2024.
They’re joined by 4 different Australian and New Zealand startups with recent capital to deploy.
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Heidi Well being: $98 million
Melbourne scaleup Heidi Well being has raised $98 million (US$65 million) in a Sequence B funding spherical, simply seven months after banking practically $27 million in a Sequence A top-up.
The spherical was led by New York hedge fund supervisor Steven A Cohen’s VC arm, Point72 Non-public Investments, supported by current backers together with native VC Blackbird, and US funds Headline and Latitude, the expansion fund of Phoenix Courtroom.
The increase values Heidi at $704 million (US$465 million), after US$96.6 million in enterprise funding has been injected into the AI-based medical notes taker.
In March, Headline led a $27 million (US$16.6 million) top-up to Heidi’s preliminary $10 million Sequence A in October 2023. Blackbird led the $5 million seed increase, when the startup was referred to as Oscar, in 2021.
The newest money botox will plump up Heidi’s headcount, workplace places, and help within the USA, UK, and Canadian markets. The AI healthtech additionally counts France, Spain, Germany, Eire, South Africa, Singapore and Hong Kong as key markets for ongoing enlargement.
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Octopus Deploy: $45.6 million
Brisbane-born startup Octopus Deploy is now valued at $882 million, after it secured a brand new funding in 2024 value $45.6 million (US$30 million) on the time of writing.
The capital injection got here from New York Metropolis-based Perception Companions, which beforehand invested $223 million within the startup in 2021.
Octopus Deploy was based in 2012 by Paul and Sonia Stovell as a approach to assist software program groups deploy, confirm, and stress-test new code on the enterprise scale.
The corporate employs greater than 300 individuals and has a buyer base of greater than 4,000. Its platform has been used for 426 million code deployments.
The funding was secured in 2024, however was solely revealed now and helped Octopus Deploy purchase US firm Codefresh in the identical yr.
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Nexl: $35 million
Sydney authorized apply collaboration and CRM platform Nexl has raised $35 million (US$23 million) in a Sequence B funding.
The spherical was led by Dave Yuan’s US progress fairness agency Tidemark Capital.
Philipp Thurner, former head of innovation at Gilbert and Tobin and now based mostly in New York, based Nexl in 2018. The startup pivoted in 2021 to assist legislation corporations collaborate throughout advertising, enterprise improvement, and operations to drive income, enhance profitability, and strengthen service supply and consumer relationships.
The AI-driven progress platform modernises the enterprise facet of legislation, uniting front-office capabilities for buyer relationship administration.
Whereas headquartered in Sydney, Nexl has management hubs in New York and Chicago, and greater than 150 corporations, together with a number of AmLaw 100 leaders, as shoppers worldwide.
Nexil has now raised greater than $45 million up to now two years, following a $6.6 million Sequence A in December 2023 and $4 million in March that yr.
Earlier buyers embody Shearwater Capital, EVP, Vulpes and Saniel Ventures.
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OpenSolar: $30 million
Australian-born, US-based OpenSolar has banked $30 million (US$20 million) in a recent increase because it appears to increase its AI implementation within the renewables design and gross sales platform.
The increase was backed by current buyers, together with Telstra’s former VC fund Titanium Ventures and London- and Copenhagen-based 2150 Sustainability Fund, in addition to Google, and others.
OpenSolar beforehand raised $22 million (US$15 million) Sequence B in early 2023, and the whole funding raised now tops $68 million (US$45million).
The free software program platform is utilized by greater than 25,000 photo voltaic set up companies in over 160 international locations. It connects them to {hardware}, finance and companies, which generate income for the local weather tech startup.
OpenSolar 3.0, which makes use of synthetic intelligence to automate an installer’s workflow with improved effectivity, was not too long ago launched. The brand new funds can be used to enhance the AI and increase international protection.
The startup, based in Sydney in 2017 by trade veterans Adam Pryor and Andrew “Birchy” Birch, makes use of Google’s Photo voltaic API knowledge for installers to design correct photo voltaic power options for properties and companies.
It additionally has a spread of instruments, together with gross sales proposals, challenge administration and funds programs, finance options, {hardware} ordering, and stock administration.
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Lucent: $2 million
Melbourne-born startup Lucent, based by 22-year-old Alisa Wu, has raised $2 million in a pre-seed spherical.
Backers embody Lengthy Journey Ventures, Horizon, Browder Capital, and Weekend Fund. The spherical closed out inside 36 hours of launch.
Lucent is Wu’s second founding after her first startup, Stella AI, was acquired in 2024.
Wu was additionally a founding engineer at MagicBrief, an AI advert platform later purchased by Canva.
She stated the brand new enterprise was about offering knowledge upstream, for frontier labs that “want distinctive datasets for particular use circumstances”.
“Lucent supplies knowledge that enables them to construct differentiated capabilities. We offer behavioural datasets grounded in actual net interactions.”
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PAM: $502,000
Wellington startup PAM (Private Administration Supervisor) has raised $502,000 (NZ$570,000) within the first shut of its seed spherical to assist mother and father take care of the life admin of elevating a household.
Preliminary help was led by Flying Kiwi Angels, with participation from Icehouse Ventures, Even Capital’s Sarah Park, Straightforward Crypto founder Janine Grainger, Foggy Valley, Wainot Funding and others. PAM is hoping to hit $800,000 for its seed spherical by the top of 2025.
Grainger and Marsello founder Brent Spicer will be a part of the board, with angel investor Caro Williams becoming a member of in as a board observer.
Cofounder, CEO and Maori mum Nicole Retter launched PAM in February, having moved from advertising to startup founder in 2023.
This yr, the app overtook the apps that would lead you to having to take care of youngsters — Tinder and Hinge — to prime New Zealand’s Apple App Retailer, with greater than 16,000 customers.
“The funding is about much more than cash – it’s validation,” Retter stated.
“Dad and mom and caregivers are telling us PAM makes an actual distinction of their each day lives, and with the help of our buyers and new board members, we are able to scale that affect far past New Zealand.
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This story first appeared on SmartCompany. You may learn the unique right here.
