Some startups are making millions in months thanks to AI. Most are falling behind.
AI-native startups are growing their annual revenue 240 per cent faster than non-AI peers. But there is evidence AI is concentrating success rather than spreading it.
Start-up
Square Peg raises over $1 billion for new funds amid AI bonanza
The Australian VC finalised two funds, one for early-stage investments and another for bigger bets, totalling over $1 billion.
Heidi hits $1.2 billion valuation with $480 million in fresh funding
The startup, which Blackbird said is its fastest growing investment ever, has hit $50 million in annualised revenue and is now moving to agentic healthcare. Key Takeaways AI healthcare startup Heidi has become Australia’s fourth unicorn of 2026, raising capital at a $1.26 billion valuation as it looks to hit break-even territory on its breakneck […]
NRF backs space startup HEO after US$100 million-plus contract
HEO develops cameras that inspect and monitor satellites in space, and has raised a $37 million Series B from the NRF, Beaten Zone Ventures and Airtree.
Main Sequence targets $400 million for new fund amid deep tech boom
After two of its portfolio companies became unicorns this year, Main Sequence hopes to raise $400 million for its fourth fund by the end of 2026. Main Sequence has hit the market to raise its fourth fund, with the deep tech VC hoping to secure $400 million to finance a new generation of bets in […]
Australia’s ADHD system made him ‘snap’. Now he’s raised millions to build a new one
Andrew Forrest’s Tenmile and the founders of Go1 have backed a new venture seeking to simplify ADHD assessment and treatment. Seven years ago Zac Altman sold his traveltech startup LoungeBuddy to American Express. Now, following a stint as a VP at the finance giant, Altman has raised $3.5 million in seed funding for a venture […]
Brandon Capital scores its biggest return ever with $2.1bn biotech acquisition
Brandon Capital led cancer therapeutics startup Myricx Bio’s $8.5m seed round in 2019. Now Novartis is buying it for up to $2.16 billion. One of Australia’s longest tenured VC firms will soon enjoy its best ever return on a single investment following Novartis’ US$1.1 billion ($1.58 billion) acquisition of London biotech startup Myricx Bio. Melbourne-headquartered […]
Samsara Eco kicks off $100m raise to recycle critical minerals
After forging deals with Lululemon and LSKD for its recycled fabrics, Samsara Eco is looking to develop a means of extracting and reusing rare earth metals.
Advanced Navigation rides deep tech boom with first US manufacturing hub
After raising over $150 million, deep tech unicorn Advanced Navigation is expanding internationally with a manufacturing plant in Alabama and upcoming acquisitions across the US and Europe.
CEO shakeup at Vow amid restructure at lab-grown meat startup
Blackbird-backed startup Vow has cut jobs and gotten a new CEO as it looks to use its cell-culture technology to expand beyond the development of lab-grown meats.