Revealed: Top 20 startups in Australia


Web3 platform Immutable tops the list of Australia’s top 20 startups, as revealed by LinkedIn in the platform’s seventh annual analysis of the industry.
Top 20 startups in Australia revealed. Image source: Getty Images

The startup industry has seen a significant drop in venture capital funding, with investment in the first six months of 2023 falling to about US$1.11 billion, compared to US$3.64 billion in the same period last year, according to KPMG data.

But LinkedIn’s Top Startups List has found there are some Australian companies that have managed to navigate the challenging environment and attract investment – and talent.

Cover of Edition One Forbes Australia featuring Robbie (left) and James (right) Ferguson, cofounders of Immutable
Cover of Edition One Forbes Australia Sept/Oct 2022 featuring Robbie (left) and James (right) Ferguson, cofounders of Immutable | Image source: Huw Reynolds

Web3 startup and Forbes Australia cover feature, Immutable, topped the list, which analyses factors like employee growth, jobseeker interest and member engagement within the company. It’s the second year in a row that Immutable has taken out the top gong.

Second on the list is, founded by brothers Dimitry and Aengus Tran. It’s a medical technology company that aims to improve patient outcomes using artificial intelligence. In just three years, the pair have raised nearly $160 million.

Me&u, which just merged with competitor Mr Yum, also features on the list at number 11, and mining-tech pioneer Plotlogic comes in at 19.

“Our latest list has shown that despite a turbulent market, Aussie startups are maintaining high levels of resilience, and it’s great to see so many new entrants in 2023,” LinkedIn Career Expert, Cayla Dengate, says. “This shows we have a robust local startup ecosystem that supports growth and innovation.” 

Dengate says the climate-tech, financial services, health-tech and advertising industries continue to show strong representation in the list.

LinkedIn’s top 20 Startups
  1. Immutable
  3. Vow
  4. Ofload
  5. Montu
  6. Lyka
  7. Zeller
  8. Kapitol
  9. Dabble
  10. Howatson+Company
  11. me&u
  12. Amused Group
  13. What Ability
  14. Akcelo
  15. Carma
  16. ORDE Financial
  17. Fortress
  18. T-Shirt Ventures
  19. Plotlogic
  20. Honey Insurance

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