This week’s startup funding tally is pretty healthy, led by regional Victorian startup Conflux Technology, which raised $11 million for heat exchangers.
Meanwhile, startups building solutions for construction site operations, software and instant diagnostic testing are also securing new funding.
Read on to find out more about four ANZ startups who collectively raised more than $26.9 million this week.
Conflux Technology: $11 million
Source: LinkedIn/Conflux Technology
Regional Victoria-based additive manufacturing startup Conflux Technology is leading this week’s funding round with an $11 million Series B investment. The round was led by Breakthrough Victoria with a $5 million investment, with participation from AM Ventures and Acorn Capital.
Founded in 2017 by Chairman and CEO Michael Fuller, Conflux Technology specializes in manufacturing heat exchangers that transfer heat between two or more fluids without mixing them. Fuller, who previously worked in the Formula 1 racing industry, recognized the potential of the technology as the field of additive manufacturing developed.
According to the startup, “Conflux has the ability to print high-performance heat exchangers as a single component, saving time, materials, and energy to produce products more efficiently and reducing environmental footprint. I will.”
“At Conflux Technology, we pride ourselves on delivering heat transfer performance and lightweight efficiency at the heart of the world’s devices,” Fuller said in a LinkedIn post.
“This is a monumental achievement for our company and is a testament to the tireless efforts of our dedicated team and the unwavering support of our new investors.
“With this new capital, we are poised to accelerate our growth in the convergence of the additive manufacturing and heat transfer industries. “This funding will enable us to further push the boundaries of innovation and provide even more cutting-edge heat exchange solutions,” he added.
Build path: $7.5 million
LR: BuildPass founders Matt Perrott and Aaron Vanstone. Source: Provided.
Melbourne-based construction technology startup BuildPass has secured $7.5 million in seed funding to accelerate product development, expand its presence in Australian market share and enter the US market. The funding round was led by Carthona Capital, with participation from Saniel Ventures and Preston-Werner Ventures, as well as Recursive Ventures, Horizon VC, and Massive Tech Ventures.
“We are excited to lead BuildPass’ seed funding round and partner with a team that is leveraging rapid advances in AI and deploying a platform for the construction industry globally.” said Jonathan Chow, president of Carthona Capital. In a statement.
Founded in 2021 by Matt Perrott and Aaron Vanston, the SaaS business offers a comprehensive suite of AI-driven and digital tools to power construction site operations.
According to the startup, the new capital will be used to create new AI software that will improve productivity, safety for construction professionals, and quality assurance across construction site operations.
“Much of the innovation we’re seeing across local construction AI is being driven by startups and small technology companies,” Matt Perrault, co-founder and CEO of BuildPass, said in the same statement. It is being promoted.”
“These are challenging times for the Australian construction industry, so we are committed to supporting businesses by providing customizable digital tools that will help improve productivity and ultimately increase profitability for contractors. ” he added.
The startup also uses artificial intelligence technology from OpenAI and Anthropic to power aspects of its functionality and intuitive user experience.
Founded in 2021, the company currently has 22 employees and its services are used by 400 companies across the country. BuildPass says its users include small and medium-sized businesses as well as national builders such as Vaughan Constructions and Westbourne Constructions.
Leigh Jasper, CEO of Saniel Ventures, said: The BuildPass team has shown impressive traction and product momentum, and we’re excited to help drive efficiency across the construction industry. ”
Project Works: $7.5 million
Mark Ortung, CEO of Project Works. Source: Provided
New Zealand-based software startup Project Works has raised US$5 million (A$7.5 million) in Series A capital funding to accelerate its expansion into the North American market.
The Wellington-based startup was founded in 2019 by Julian Clarke, Matthew Hayter and Doug Taylor.
The round, which values the startup at $90 million, was led by US-based Bridgewest Group, with existing shareholders including Mark Oltun and Kiwi venture capital firm Punakaiki Fund, and three The founders of the People also participated.
The funding coincides with the appointment of US-based CEO Mark Ortung.
said Ortung, who joined Project Works in March. Its founders are innovators who think differently about problems and create solutions that are perfectly fit for purpose. ”
“This funding will be used for a number of initiatives, including accelerating global customer acquisition, increasing investment in research and development, and building a Silicon Valley-based product and engineering team,” he added. .
Orttung’s appointment means co-founder Hayter will step down as CEO and serve as president and chief product officer within the business.
The startup includes some of Australia’s leading technology consultancies as clients, including Kiandra, Bound, Diversus and Ackama.
DNAiTECH: $904,000
Dr. Murray Bloom and Tatiana Seban, co-founders of DNAiTECH Ltd. Source: DNAiTECH Ltd
New Zealand start-up DNAiTECH has secured NZ$1 million (approximately $904,000) in new funding to develop its first product and conduct further R&D and field trials.
Founded in 2020 by Murray Bloom and Tatiana Seban, the startup specializes in instant diagnostic tests that don’t require a lab.
The funding round was led by Sprout Agritech, along with its partners US-based Finistere Ventures, New Zealand’s Fonterra, venture builder OurCrowd, and Te Pokappu Auaha Callaghan Innovation’s deep tech incubator program, according to Startup Daily. This is the company’s 10th investment. .
Callaghan Innovation, which runs a program to help New Zealand’s early-stage deep tech startups commercialize, also reportedly provided the startup with a NZ$750,000 loan.
Co-founder Murray Bloom said DNAiTECH will help clinicians make treatment decisions faster.
“Diseases like Johne’s disease in livestock and measles in humans cause huge economic and human loss costs, especially in developing countries,” he said, reported Startup Daily. .
“The ability to provide accurate diagnosis instantly at the point of care is a game-changer. It’s the difference between taking a problem to the lab or not. Or bringing science to the problem.”
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