???? This Week in Australian Startups #103, 2nd February 2025

Top News

• Atlassian surges after 30% subscription growth and strong guidance (Mike Cannon-Brookes | Capital Brief)
• Beforepay delivers continuing strong profit and growth, breaking through $10m in quarterly revenue and sets new active-user records (Australian FinTech)
• Competing Google ad tech class actions face 'carriage contest' (Capital Brief)
• Kite Magnetics to build advanced manufacturing facility in Melbourne for electric motor technology (BNA)
• Assetnote has been acquired by Searchlight Cyber for $100m (AFR)
• LaunchVic is offering a $300,000 to VCs who to set up shop in the state to back local startups (Startup Daily)
• Airtasker revenue rises as marketing blitz sends earnings into the red (BNA)
• Atlassian is now allowing staff to cash out shared after three months instead of one year - in order to attract more top talent (AFR)
• Elmo Software’s owners shelve sale as Bain Capital walks (AFR)
• NinjaOne buys Dropsuite for US$252M (ARN)
• The federal government has awarded $6.4m to an industry-funded cyber threat intelligence network to establish a information sharing and analysis centre for the healthcare sector (InnovationAus)
• Amber acquires EV charging platform firm Charge HQ (Amber | Capital Brief)
• Square Peg's portfolio grows to $5.1 billion, boosted by exits and reduced writedown provisions. (AFR)
• Tanarra Capital to sell majority stake in healthcare software firm Health Metrics for up to $400 million. (AFR)
• Fuzzy Sequence, which drives B2B revenue growth by automating outreach and personalising engagement at scale, has been shortlisted on Meet the Drapers to pitch for $1M (Serena Lam)
• Applications are now open for Pitch Palooza, the search for Australia’s best AI pitch with over to $20k in partner perks across Google Cloud, Vanta, Notion and more (Pitch Palooza)

Funding Rounds

• Diag-Nose.io, a biotech startup focused on translating the complexities of the unified airway into precision diagnostic and drug discovery solutions, has raised $3.15m in a Seed round from Breakthrough Victoria, Radar Ventures, Speciality Physician Associates and Angel Investors (Eldin Rostom | BNA | SmartCompany)
• MyGigster, a fintech the helps gig economy workers track their income and spending to build financial security, has raised $1.1m in a Seed round from Angel Investors (Benjemen Elengovan | BNA | Startup Daily)
• Qsic, an AI-Driven in-store audio platform specifically designed for enterprise retail & brands, has raised $40.12m ($25m USD) in a Series B round from Hedosophia (Matthew Elsley | SmartCompany)
• Harrison.ai, a healthtech startup that develops AI diagnostic solutions aiming to scale global healthcare capacity and improve patient care, has raised $32m in a Series C round from The National Reconstruction Fund (InnovationAus | Capital Brief)
• Spoony, a community platform revolutionising support for neurodivergent and disabled individuals, has raised $1m in a Pre-Seed round from Antler, Melba Support and Trampoline (BNA | Startup Daily)
• MCi Carbon, transforms carbon emissions into valuable materials for the circular economy, has raised $8.02m ($5m USD) in a Undisclosed round from Ube Cement (MCi Carbon | NIKKEI)
• Healthy Mend, who makes Vigilis a Governance Intelligence AI tool, has raised $2.5m (Direct)
• EARTH AI, predictive explorer for clean energy metals using AI, has raised $32.09m ($20m USD) in a Series B round from Tamarack Global, Cantos Ventures, Overmatch, Alpaca, Sparkwave Capital, Y Combinator and Scrum Ventures (PR Newswire)