Firmus absorbed 70% Australian startup funding before attempted IPO
Q3 was the biggest fundraising quarter on record for the Australian startup sector. However, 69 per cent of funds went to Firmus.
Venture capital
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.
Diraq scores $73 million in US defence race against quantum heavyweights
Diraq has progressed to the third and final stage of a quantum computing program run by the US Department of Defense. It comes with US$51 million in funding – with a possibility of another US$249 million.
Australia’s youngest billionaire Ed Craven places his next big venture bet
Maincode, the AI lab building Australia’s first sovereign LLM, is spinning up a venture capital arm its hopes will turn leaders in finance, healthcare and entertainment into disruptors.
$790 million medtech Harrison.ai reveals revenue surge after restructure culling 15% of staff
Harrison.ai founders Aengus and Dimitry Tran say their $789 million startup is reorganising to prepare for a commercialisation drive at home and abroad – but that R&D remains in Australia. Harrison.ai cut 15 per cent of its workforce earlier this year in a restructure founders Aengus and Dimitry Tran say will allow it to put […]
NZ’s richest woman targets Seek with AI recruitment startup
After nearly two decades building toy giant Zuru, Anna Mowbray is betting AI can disrupt recruitment. Her startup Zeil is now targeting Australia as the first step in a global expansion. Zuru cofounder and New Zealand rich lister Anna Mowbray is bringing her AI-powered recruitment platform to Australia, where she hopes will rival recruitment giants […]
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.
Canva valuation marked down by US titans T. Rowe Price and Franklin Templeton
T. Rowe Price and Franklin Templeton, which each manage trillions in assets, bought into Canva at a US$40 billion valuation in 2021. Canva is preparing a foundation model it hopes will help reverse the trend.
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 […]