Two Australian startups moved nearer to unicorn standing this week, after revealing new funding rounds that gave their valuations a wholesome increase.
This week’s funding round-up is led by Heidi Health’s $98 million Series B spherical and Octopus Deploy’s $45.6 million investment, 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 Collection B funding spherical, simply seven months after banking nearly $27 million in a Collection 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 present backers together with native VC Blackbird, and US funds Headline and Latitude, the expansion fund of Phoenix Court docket.
The elevate 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 initial $10 million Series A in October 2023. Blackbird led the $5 million seed elevate, when the startup was referred to as Oscar, in 2021.
The most recent money botox will plump up Heidi’s headcount, workplace areas, and assist 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.
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 means 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 12 months.
Nexl: $35 million
Sydney authorized apply collaboration and CRM platform Nexl has raised $35 million (US$23 million) in a Collection B funding.
The spherical was led by Dave Yuan’s US development fairness agency Tidemark Capital.
Philipp Thurner, former head of innovation at Gilbert and Tobin and now primarily based in New York, based Nexl in 2018. The startup pivoted in 2021 to assist regulation companies collaborate throughout advertising, enterprise growth, and operations to drive income, enhance profitability, and strengthen service supply and consumer relationships.
The AI-driven development platform modernises the enterprise facet of regulation, 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 companies, together with a number of AmLaw 100 leaders, as purchasers worldwide.
Nexil has now raised greater than $45 million prior to now two years, following a $6.6 million Series A in December 2023 and $4 million in March that year.
Earlier traders embody Shearwater Capital, EVP, Vulpes and Saniel Ventures.
OpenSolar: $30 million
Australian-born, US-based OpenSolar has banked $30 million (US$20 million) in a recent elevate because it appears to develop its AI implementation within the renewables design and gross sales platform.
The elevate was backed by present traders, 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) Series B in early 2023, and the overall 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 nations. 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 just lately launched. The brand new funds might be used to enhance the AI and develop international protection.
The startup, based in Sydney in 2017 by business veterans Adam Pryor and Andrew “Birchy” Birch, makes use of Google’s Photo voltaic API information for installers to design correct photo voltaic vitality options for properties and companies.
It additionally has a variety of instruments, together with gross sales proposals, mission administration and funds methods, finance options, {hardware} ordering, and stock administration.
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 ad platform later bought by Canva.
She mentioned the brand new enterprise was about offering information upstream, for frontier labs that “want distinctive datasets for particular use instances”.
“Lucent gives information that permits them to construct differentiated capabilities. We offer behavioural datasets grounded in actual internet interactions.”
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 dad and mom take care of the life admin of elevating a household.
Preliminary assist 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 tip of 2025.
Grainger and Marsello founder Brent Spicer will be 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 12 months, the app overtook the apps that might lead you to having to take care of kids — Tinder and Hinge — to high New Zealand’s Apple App Retailer, with greater than 16,000 customers.
“The funding is about much more than cash – it’s validation,” Retter mentioned.
“Dad and mom and caregivers are telling us PAM makes an actual distinction of their day by day lives, and with the assist of our traders and new board members, we will scale that affect far past New Zealand.
- This story first appeared on SmartCompany. You may read the original here.
