Ten Aussie startups that landed over $80 million combined this week

It’s been another big week of VC funding, though not quite as massive as last week. We’re also very happy to report more female founders getting funding this week.

This includes insurance tech platform, Butter, and online shopping disruptor, Sortd.

Still, according to the latest Cut Through Venture newsletter, we still have a long way to go. According to its data, 44 deals closed in November to the tune of $638 million. We covered most of them in our weekly funding wraps.

However, only 8% of those raises went to female founders and when it came to overall deal participation, the numbers sit at just 25%.

And that’s a damn shame considering that November was the strongest month for Aussie raises since Q1.

Hopefully, the November figures will look a little more diverse.

Butter: $1.3 million

Insurance tech startup Butter is looking to make the sector less boring and more accessible to young Australians. It’s just received $1.3 million in pre-seed funding, led by Flying Fox VC, Quokka Ventures and FB10X adVentures.

Butter will be using some of the funds to roll out its platform ahead of Christmas. And you can read more about it in our full write-up and exclusive interview.

Sortd: $1.26 million

Sortd founders Jodine Wolman (left) and Alexis Aaron. Source: supplied.

Sortd secured $1.26 million in funding from Antler, as well as some private investors, including Darryl Garber of ELMO Software.

The female-founded business allows users to go to a single portal to save and compare online shopping items, rather than open 100 tabs. We’ve all been there.

You can read the full story right here.

Vaxxas: $34 million 

Biotech company Vaxxas has the biggest raise of the week, with $34 million for its need-free vaccine platform.

The round was led by existing investors OneVentures and UniQuest Pty Ltd. It also included some new investors from the Vaxxas board of directors and management team, as well as a number of individual angel investors.

The funding will be used to finance the advancement of clinical programs, including a needle-free COVID-19 vaccine trial. It will also support the company’s first manufacturing lines and early commercial production.

Apromore: $15.8 million 

Software startup Apromore has secured $15.8 million led by Salesforce and GBTEC.

Originating from Melbourne University, the company uses process mining to allow businesses to improve and streamline their internal processes.

The fresh cash injection will go towards international expansion and product development.

Zetifi: $12 million

Wagga Wagga connectivity startup Zetifi has raised $12 million in Series A funding led by Telstra and Graincorp.

Part of the funding will go towards scaling up the headcount within the business as demand grows. It is also looking at further expansion into the US and Canada.

You can read the full story, terrible pun and all, right here.

Trendspek: $6.3 million

Infrastructure monitoring startup, Trendspek, has secured $6.3 million in Series A. The round was led by VC Taronga Ventures and was joined by Firemark Ventures.

The company utilises drone technology to create detailed 3D models for the likes of real estate and asset inspection.

The funding will go towards growing the team, as well as global expansion.

Operative Intelligence: $5 million 

Operative Intelligence has raised $5 million in seed funding, led by Bonfire Ventures and joined by Wonder Ventures.

The company uses its AI platform to assist customer service professionals to the bottom of problems they have with customers and change up the experience.

Additive Assurance: $4.1 million

Quality assurance startup, Additive Assurance, has raised $4.1 million led by Significant Capital Ventures (SCV) and supported by Hostplus. They were also joined by existing shareholders IP Group Australia and Monash Investment Holdings.

The company, which deals in QA for additive manufacturing, will use the capital to open a QA centre at its Melbourne headquarters, as well as expand the team internationally and support further growth initiatives.

FORMM: $600,000

Digital consulting startup, FORMM, has received $600,000 in pre-seed funding from individual angel investors.

The company helps SMEs explore and scale digital capabilities “leveraging a startup mindset to go beyond product solutions to build a better business”.

FORMM is currently actively recruiting to further build out its team.

Loving Earth: $485,000 (via Birchal)

Food and beverage startup, Loving Earth, has closed on $485,000 of funding from individual investors via Birchal.

The ethical plant-based chocolate manufacturer from Melbourne is family owned and operated. It aims to not only be 100% natural but also deal directly with its organic cacao farmers, paying them an above-fair trade price.

In addition to being vegan, its chocolate is gluten, sugar cane and soy free. It’s also created in a solar-powered factory and its packaging is compostable.