Here’s a recap of recent funding developments from Australia, India, the US and beyond.
Relevance AI secures $15m in series A funding
Relevance AI, aiming to revolutionize businesses with AI workforces for enhanced productivity, has raised AU$15M in a Series A round led by King River Capital, an AI-focused VC. Global investors Surge (Peak XV), Galileo Ventures, and existing investor Insight Partners also participated. The funding will fuel global team expansion, with plans to establish a presence in San Francisco next year.
SourseAI raises $3m in series A
Sydney-based decision intelligence startup SourseAI has successfully secured $3 million in Series A funding, led by Centerstone Capital. With a total funding of $5 million, SourseAI, guided by cofounder Luc Maasdorp, is strategically expanding its reach in Europe. The startup focuses on providing data-driven decision support, minimizing reliance on gut instincts.
Omni Biotech secures $300,000 in pre-seed funding
Perth-based Omni Biotech has raised $300,000 in pre-Seed funding from Melbourne VC Skalata Ventures to advance its hydration monitoring platform. Founded by Curtin and Stanford University graduates Will Poot and Zac Farrow, Omni Biotech utilizes optical sensors in smartphones and wearables to monitor users’ hydration levels, akin to tracking sleep, steps, and heart rate.
Vloggi initiates $750,000 crowdfunding campaign
Sydney’s user-generated video startup, Vloggi, has launched a $750,000 equity crowdfunding campaign on the OnMarket platform. The campaign offers 250,000 full-paid ordinary shares at $3 each in Vloggi’s holding company, Ciné Souk, as the startup aims to intensify its international focus in the realm of user-generated videos.
CSIRO’s $3.6M next-generation quantum graduates program funds
Quantum Research Initiatives The CSIRO’s Next Generation Quantum Graduates Program allocates $3.6 million to support four university-industry quantum research initiatives. This initiative, fulfilling a government election commitment, will fund 16 PhD scholarships across 11 Australian universities. The research spans foundations of a quantum internet to technology for observing biological processes at a sub-atomic level.
Finance and Lifestyle App MIST secures $1.6m in seed funding
MIST, the cutting-edge finance, services, and lifestyle app, announces the successful closure of its Seed funding round, raising $1.6 million AUD. Co-led by Investible and Allectus Capital, with participation from Archangel Ventures, Seedspace, and The Hunter Angels, the funding will further propel MIST’s innovative app in the market.
India’s QNu Labs raises $6.5m in pre-series A funding
QNu Labs, a quantum-safe cybersecurity technology firm, has raised $6.5 million in its pre-Series A1 funding round. Led by Ashish Kacholia of Lucky Investments, with participation from Speciale Invest and a prominent family fund, QNu Labs, founded in 2016, focuses on providing quantum and post-quantum cryptography solutions to enhance confidentiality and privacy against modern cyber threats.