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Funding highlights: Triomics, Kashcade and more


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

Triomics Secures $15 Million Investment 

Triomics, a leader in oncology automation, has announced a successful funding round, raising $15 million. The investment will facilitate the advancement of their GenAI-powered platform, aimed at streamlining oncology workflows. Currently, oncology professionals grapple with the manual search of patient health records, sifting through vast amounts of data to identify suitable trials or care pathways for their patients. Triomics’ innovative approach leverages institution-tuned large language models (OncoLLM™) and tailored software solutions to process oncology data at scale. Notable backers include Lightspeed, Nexus Venture Partners, General Catalyst, and Y Combinator, demonstrating a collective commitment to pioneering investments in generative AI and healthcare.

Hysata Secures Record $172 Million in Series B Funding

Wollongong-based green hydrogen startup Hysata has achieved a groundbreaking milestone, securing an impressive $172 million (US$111 million) in Series B funding. This significant investment, described as Australia’s largest-ever Series B round by a cleantech startup, underscores the growing interest in sustainable energy solutions.

Doohly Secures $500,000 Pre-Seed Funding 

Outdoor advertising startup Doohly has secured $500,000 in a pre-Seed funding round, marking a significant milestone in its growth journey. The investment, led by Melbourne VC Skalata and Archangel Ventures, will fuel the expansion of Doohly’s digital-out-of-home (DOOH) offering. Doohly stands out in the market as an end-to-end programmatic ecosystem for DOOH advertising. Their unique approach integrates an independent content management system (CMS) with native integrations to a programmatic and verification platform, setting a new standard in the industry.

Xefco Raises $10.5 Million in Seed Extension to Accelerate Growth

Sydney-based startup Xefco has secured $10.5 million in a Seed extension round, signaling a new chapter in its expansion journey. The funding, led by CSIRO-backed VC fund Main Sequence Ventures and supported by Virescent Ventures and existing shareholders, including Investible and Voyagers Climate-Tech Fund, will bolster Xefco’s presence in Victoria. Established in 2018, Xefco specializes in innovative coating technologies for the textile industry. The company gained attention during the pandemic for its collaboration with Deakin University, resulting in the production of “Covid-killing face masks.”

Kashcade Raises $1 Million in Additional Funding Round

Fintech startup Kashcade has secured an additional $1 million in funding from existing investor Prandium Capital, alongside several high-net-worth individuals. In addition, the company has secured a $22 million warehouse facility funded by asset-backed lending specialist Rixon Capital. The investment will enable Kashcade to expand into the R&D lending space, offering startup founders non-dilutive capital solutions. Kashcade’s automated financial analysis software will undergo enhancements to support its expansion efforts.

SupplyScope Secures $300,000 Pre-Seed Investment for Product Development Innovation

Product development startup SupplyScope has secured $300,000 in pre-Seed funding from early-stage investor Skalata. SupplyScope specializes in navigating regulatory compliance and safety requirements to expedite products’ journey to market. The funding will support the company’s mission to streamline the product development process, enabling suppliers to reach markets faster. Amidst challenges posed by lengthy testing and paperwork procedures, SupplyScope empowers product suppliers to bypass traditional distribution channels by embracing direct-to-consumer and online marketplace strategies.

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