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Funding highlights: November 3 to November 9

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

Cyclion oversubscribes equity crowdfunding campaign

Cyclion, a Brisbane-based waste-to-energy startup, has raised over $500,000 in equity crowdfunding through Birchal. The campaign was oversubscribed by more than double the original investment goal, reflecting Australians’ eagerness to support renewable technology, circular energy systems, and waste reduction.

Cyclion’s proprietary technology converts mixed waste materials into energy, reducing landfill waste and offering a more environmentally friendly, sustainable, and profitable fuel source than many current options.

Phantm secures $2m seed funding to accelerate plastic reduction efforts

Phantm, a new plastic reduction platform, has secured $2 million in seed funding from Blacknova VC, Salus Ventures, and CoVentures VC. Phantm is already working with leading international and Australian businesses to accelerate the adoption of natural materials and address one of the world’s largest waste issues.

LeVeL lemonade launches crowdfunding campaign to fund growth strategy

LeVeL Lemonade, an Australian beverage startup with Red Bull heritage, has launched its first capital raise via crowdfunding campaign through Birchal. The company is seeking to raise $950,000 to fund expansion of its product line, adoption of eco-friendly packaging, strengthening of marketing and sales, expansion of distribution, and preparation for international export.

NSW government reinstates mvp grant program to support startups

The NSW government has reinstated its minimum viable products (MVP) grant program, providing startups with grants worth between $25,000 and $50,000. This move is seen as a positive step forward for the state’s startup ecosystem.

London startup lounge raises $4m seed funding

London-based startup Lounge has raised $4 million in seed funding to connect university students in multiple countries. The platform focuses on organizing events, improving data privacy, and providing an alternative to big tech companies like Meta.

India’s InCred has completed its $60 million Series D round

InCred Finance, the lending arm of financial services firm InCred Group, has raised $60 million in its Series D round of funding, joining the country’s coveted ‘unicorn’ club, which has seen no major additions in 2023 aside from quick commerce firm Zepto.The company did not reveal the identity of its investors, but did state that they include a global private equity fund, corporate treasuries, family offices, and ultra high net worth individuals.

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