Another week, another round of tasty raises for Australian startups. And this is the first big one for 2023 after a few weeks of modest numbers to compliment the beginning of the year.
Rumin8: $17.2 million
We’re starting off in Perth where Rumin8 just secured $17.2 million. The funding raise was led by Breakthrough Energy Ventures (BEV) which is headed up by Bill Gates. It also has investments from other tech billionaires like Jeff Bezos and Richard Branson.
Rumin8 is a climate tech company that has worked out a way to lower the methane emissions from cow farts. Yes, really.
Ferronova: $11 million
Popping over to Adelaide, biotech startup Ferronova has just received $11 million in funding, led by Renew Pharmaceuticals Limited. It was joined by existing shareholders as well as Uniseed and Artesian Venture Partners. It also received funds from an Australian government Co-Operative Research Center.
This cash bump follows a successful $4.6 million Series A round back in 2020.
Ferronova specialises in nanoparticle cancer detection technology. It is designed to assist with complex cancer detection and removal, particularly during the treatment of gastrointestinal and brain tumours.
EMVision: $600,000
Medtech startup EMVision has booked a $600,000 milestone payment from the Australian Stroke Alliance (ASA).
The company focuses on the development of medical imaging technology for commercial purposes. It is currently developing a portable, cost-effective imaging device that uses electromagnetic microwave imaging for the diagnosis and monitoring of strokes.
The idea behind the device is to make stroke detection accessible and portable.
The development has been a decade in the making by researchers at the University of Queensland. The company is currently in a Stage 1 trial of healthy patients at Liverpool hospital. Once completed, a Stage 2 trial will be held with up to 150 acute stroke and stroke mimic patients.
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