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Funding highlights: Forever Network, Medibis and more


Here’s a recap of recent funding developments from Australia, India, the US and beyond.

Forever Network Secures $6 Million Series A Funding

Forever Network, the parent company of popular social publishing brand Basketball Forever, has closed a significant $6 million AUD Series A funding round. The funding was led by Yolo Investments and saw participation from notable investors including Three Kings Capital and Astralis Capital.

Founded in Sydney in 2015, Forever Network, under the leadership of Alex Sumsky and Nicholas Kelland, has expanded its presence over the past nine years, establishing partnerships with renowned brands such as Nike, Adidas, and Under Armour. With this new injection of capital, Forever Network aims to fuel its expansion into the lucrative US market.

Medibis Medical Cannabis Completes Birchal Raise 

Medibis, a leading player in the medical cannabis sector, is set to complete its capital raise through the Birchal crowdfunding platform tonight at 10 PM. The company’s ongoing clinical trial for the treatment of ASD-associated conditions is expected to generate significant interest among Australian investors. Proceeds from this funding round will be utilized to diversify Medibis’ product range, bolster inventory, conduct vital clinical trials, and accelerate growth by expanding distribution networks.

With shares available for purchase starting from just $250, this equity raise is poised to surpass the success of Medibis’ previous fundraising efforts. Against the backdrop of a rapidly growing medicinal cannabis market in Australia, projected to reach AU$3.04 billion by 2028, Medibis is positioned for substantial growth.

Global Screening Services Raises $47M in Series A2 Funding

Global Screening Services has secured an impressive $47 million in Series A2 funding, with support from prominent investors including AlixPartners, Cynosure Group, and Commonwealth Bank of Australia. The company, which specializes in bringing together global financial institutions to enhance compliance standards, plans to utilize the funds to expand its operations and further develop its offerings.

Hume AI Raises $50M in Series B Funding

Hume AI, a leading provider of empathic voice interface technology, has successfully closed a $50 million Series B funding round. The company’s innovative interface, trained on vast datasets of human interactions, has garnered significant attention for its ability to understand user preferences and deliver highly personalized responses. With this latest round of funding, Hume AI aims to scale its operations and continue refining its groundbreaking technology.

Gather AI Secures $17M in Series A-1 Funding

Pittsburgh-based Gather AI, a provider of advanced computer vision and AI-powered warehouse inventory monitoring solutions, has raised $17 million in Series A-1 funding. The company plans to utilize the funds to scale its operations and expand its presence across various industries, including third-party logistics, retail distribution, manufacturing, food & beverage, and air cargo.

Fireworks AI Raises $25M in Series A Funding

Fireworks AI, a leading production AI platform based in Redwood City, CA, has closed a $25 million Series A funding round. The investment, led by Benchmark with general partner Eric Vishria joining the company’s board, will support Fireworks AI’s expansion efforts and further development of its innovative platform.

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