Neara, Archistar, Book An Artist and more
It has been another busy week for Australian start-ups and the companies they support. We’ve seen Melbourne hotel tech start-up Mr Yum rack up $ 11 million as it expands into the US and UK, while software start-up Octopus Deploy has raised $ 233 million. of dollars during its very first capital increase.
Elsewhere, there has been activity in infrastructure technologies, AI property design, and green home products. And, the Aussie “ Airbnb for street art ” came out stronger from the COVID-19 crisis and is now heading overseas.
Here’s the fundraising news you might have missed this week.
Close to a
Utilities infrastructure startup Neara – previously named Power Lines Pro – has secured $ 7.25 million in Series A funding.
This round was led by Square Peg Capital and also included investments from Skip Capital.
Formerly known as Power Lined Pro, the software-as-a-service startup enables utility companies to design, analyze and manage assets like power lines by creating 3D digital “ twins. ”
The technology enables security and risk management and performance monitoring. It can also help with real-time decision making and service maintenance during natural disasters such as storms, bushfires and floods.
Skip Capital founder Kim Jackson noted that the product sits “at the intersection of technology and large-scale utility infrastructure.”
The aim is to “democratize engineering,” said founder Daniel Danilatos – a former software engineer at Google – in a statement, so that his partners “can conduct a deep analysis of the infrastructure and make smarter decisions” .
Skip Capital also led a $ 6 million funding round in AI-based property design startup Archistar.
AirTree Ventures also contributed to the round, having led the startup’s Series A last year.
Founded by architect Dr Benjamin Coorey in 2018, Archistar enables architects, real estate developers and planners to simulate digital 3D designs to ensure buildings meet height restrictions, while allowing natural light and ventilation.
The team is also working with the Victorian government to automate planning approvals.
The company has doubled its revenue year on year since its launch. Now the founder is preparing to launch in the US and UK.
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Eco-friendly housewares retailer Urban Ethos, led by father-daughter team Michael and Chantel Vidor, has secured $ 3.8 million in funding from unidentified but allegedly ‘influential’ investors .
The company sources its products from sustainable brands for the home and kitchen, which are available through its online store to purchase individually, in bundles, or through subscription packages.
The increase follows a strong 12 month period, which saw activity grow by around 500%.
Each sale on the site also sees $ 1 donated to one of the three charities. The client can choose to help remove plastic from the ocean, plant trees, or help restore the Great Barrier Reef.
“We were tired of seeing so much toxic waste and exploitation of resources,” Michael Vidor said in a statement.
“We felt that offering consumers green alternatives for everyday household consumables with the highest possible green certifications was long overdue.”
ESN Cleer, a medical technology startup that produces a saliva test kit to detect early stages of heart failure, raised $ 650,000 through a VentureCrowd crowdfunding campaign, plus an additional $ 50,000 of direct investment .
Some 28 funders joined us during the campaign, investing an average of just over $ 23,200 each.
The cash injection comes as the start-up prepares to roll out its product across the country.
“With a protected IP behind the technology and the pre-sale of our devices scheduled to launch in the coming months, we anticipate [the funding] will help us achieve a solid ROI over the next two years, ”co-founder and director Leo de Bruin said in a statement.
It was not the first rodeo in medical technology.
In November of last year, the startup closed a $ 180,000 equity crowdfunding campaign through rival crowdfunding platform Birchal.
Book an artist
Australian book “ Airbnb of Artists ” Artist has raised $ 400,000 in seed funding, led by startup investment firm Skalata Ventures, and also including US fund VC Hustle.
Book An Artist is a marketplace that pairs businesses and individuals with local street artists, enabling these artists to get and manage commissions.
The funding follows a tumultuous year for the startup, but one that ultimately led to growth.
As Melbourne plunged into its second COVID-19 lockdown last year, the founder and chief of Book An Artist, Gaurav Kawar, quickly shifted focus to invest in marketing in Sydney, Brisbane and Perth.
The focus has also shifted from the hospitality industry to construction and even wallpaper design.
Today the company has passed the million dollar commission mark and expanded into the UK.