Aussie and Kiwi Startups Capture $63.5 Million in funding
Table of Contents
- 1. Aussie and Kiwi Startups Capture $63.5 Million in funding
- 2. Qsic: $40 million
- 3. Kwetta: $16.2 million
- 4. Australian Startups Secure Millions in Funding
- 5. How does Spoony’s design mitigate the specific challenges faced by individuals with disabilities,neurodiversity,and chronic illnesses in navigating traditional social media platforms?
- 6. Spoony: Creating a Safer,More Inclusive Social Space for All
The funding scene in Australia and New zealand is heating back up after a quiet spell. This week saw Aussie and Kiwi startups collectively raise a important $63.5 million, signaling continued investor confidence in the region’s dynamic entrepreneurial ecosystem.
Qsic: $40 million
Leading the charge is Qsic, an in-store audio technology company, which snagged a substantial $40 million in a Series B funding round spearheaded by Hedosophia. Qsic has carved out a niche for itself by powering audio networks within popular retail locations like McDonald’s, Coles Express, and 7-Eleven. The platform utilizes advanced AI to dynamically adjust advertisements based on shopper behaviour and local trends, resulting in a highly targeted and effective advertising experience.
This fresh injection of capital will fuel Qsic’s enterprising expansion plans. The company aims to deploy an additional 70,000 speakers across north America, accelerating product advancement to further enhance its technological capabilities, and bolster its sales team to capitalize on the growing demand for its solutions.
Qsic’s AI engine, aptly named Lucy, plays a pivotal role in localizing advertisements and optimizing their performance. The result? Retail locations have reported remarkable sales boosts of up to 14% thanks to Qsic’s innovative approach.
“The demand for our solution is strong,” remarked qsic co-founder and CEO, Matt Elsley. ”Now, we’re positioned to accelerate product development to enhance our tech capabilities and put new resources in place to grow our network to drive even greater, measurable outcomes for our retail partners and brands globally,” Elsley added.
Kwetta: $16.2 million
Another notable success story this week is Kwetta, a New Zealand-based startup that secured $16.2 million in Series A funding. The round was led by a trio of prominent venture capital firms: Blackbird Ventures, Virescent Ventures, and Icehouse Ventures This funding will undoubtedly propel Kwetta’s growth trajectory and allow the company to further develop its groundbreaking solutions.
Australian Startups Secure Millions in Funding
The Australian startup scene is buzzing with activity,with several promising ventures recently securing substantial funding to fuel their growth and innovation. From groundbreaking healthcare technologies to fintech solutions for the gig economy, these startups are poised to make a significant impact across diverse sectors.
Diag-nose.io: Revolutionizing Respiratory Care with AI
Melbourne-based biotech startup Diag-Nose.io has raised $3.15 million in an oversubscribed seed round led by Breakthrough Victoria and supported by Radar Ventures. The company is developing a patented nasal liquid biopsy device and AI-powered analytics platform, RhinoMAP, aimed at revolutionizing respiratory care.RhinoMAP offers personalized treatment options for patients with chronic respiratory conditions, potentially transforming how these illnesses are diagnosed and managed.
The fresh funding will allow Diag-Nose.io to expand its operations globally and accelerate the development of further diagnostic innovations, bringing its cutting-edge technology to a wider patient population.
Medow Health AI: Streamlining Specialist Consultations
Medow Health AI, founded in 2023 by joel Freiberg, has secured $2 million in funding from prominent medical leaders including Chris O’Brien Lifehouse CEO Michael Boyer and orthopedic surgeon michael Solomon. The startup’s mission is to reduce the frequently enough lengthy wait times for specialist referrals by automating the creation of medical reports using AI technology.This investment will empower Medow Health AI to expand its operations, with a particular focus on entering the New Zealand market. The company also plans to integrate its technology into popular medical software platforms like Genie and gentu, further streamlining the specialist consultation process for healthcare providers and patients alike.
MyGigsters: Empowering Gig Workers with Financial Tools
MyGigsters, a fintech startup founded in 2022 by Benjemen Elengovan, has raised $1.1 million in seed funding from a mix of existing and new investors. The platform provides essential income and spending tracking tools specifically designed for gig workers,using real-time data and advanced analytics to deliver personalized financial insights.
this funding will enable MyGigsters to expand its reach into the global embedded financial services market, offering gig workers innovative solutions such as instant payments, early access to earnings, and automated tax management. By providing tailored financial tools, MyGigsters is empowering gig workers to take control of their finances and navigate the unique challenges of the gig economy.
Looking Ahead
These recent funding rounds highlight the growing strength and potential of the Australian startup ecosystem. As these companies continue to innovate and evolve, they are poised to disrupt traditional industries, create new job opportunities, and contribute significantly to Australia’s economic growth. The coming years will undoubtedly see these startups solidify their positions as leaders in their respective fields, making a lasting impact on the global stage.
A new social media platform called Spoony is aiming to create a safer and more inclusive online space for people with disabilities, neurodiversity, and chronic illnesses. Founded in 2024 by Nicholas carlton and Kenneth Liang, Spoony seeks to provide an choice to the often overwhelming and inaccessible nature of mainstream platforms like X, Facebook, TikTok, and even dating apps.
Since its soft launch in September, Spoony has garnered over 22,000 users, with thousands more eagerly awaiting their turn to join the platform. This rapid growth speaks volumes about the demand for a space where individuals can connect authentically and build meaningful relationships without fear of judgment or stigma.
adding fuel to its burgeoning success, Spoony recently secured $1 million in pre-seed funding. The round was led by Antler Ventures, with notable contributions from National Disability Insurance Scheme provider Melba Support and early-stage investment syndicate Trampoline. This investment will undoubtedly propel Spoony’s development and expansion, allowing it to reach a wider audience and further refine its user experience.
“The timing is right for a social media platform that genuinely fosters connections,” says Carlton, Spoony’s CEO, speaking to SmartCompany.
Spoony’s founders envision a future where online interactions prioritize empathy, understanding, and inclusivity. They believe that technology should empower individuals to connect with like-minded people and build a sense of community, regardless of their background or health challenges.
Ther’s a growing demand for online spaces that prioritize user well-being and foster a sense of community. “There is such a big cultural appetite for safe, empathetic spaces that prioritise the health and wellbeing of their users,” an industry expert shared.
The need for connection and support online is stronger than ever before.
In a world where online spaces can frequently enough feel overwhelming and inaccessible,Spoony is emerging as a beacon of inclusivity. Founded by Nicholas Carlton and Kenneth Liang,Spoony aims too create a social media platform that prioritizes the well-being of its users,notably those with disabilities,neurodiversity,and chronic illnesses.
Ahead of its official launch, smartcompany sat down with Spoony’s CEO, Nicholas Carlton, to discuss the platform’s mission, its growing community, and the future of inclusive online spaces.
SmartCompany: What inspired you to create Spoony?
Nicholas Carlton: My co-founder Kenneth and I have both personally experienced the challenges of navigating mainstream social media platforms. We’ve seen firsthand how these platforms can be overwhelming and even harmful for individuals with disabilities, neurodiversity, and chronic illnesses. We wanted to create a space where everyone feels safe, supported, and empowered to connect authentically.
SmartCompany: What sets Spoony apart from other social media platforms?
Nicholas Carlton: At spoony, we prioritize user well-being at every level. Our platform is designed to be accessible, inclusive, and supportive. We offer a range of features aimed at reducing stress and anxiety, such as customizable notification settings, quiet modes, and tools for managing screen time. Our community guidelines also strictly prohibit harmful content and behavior, fostering a respectful and empathetic habitat.
SmartCompany: You’ve seen impressive growth since Spoony’s soft launch. What’s been the response from users so far?
Nicholas Carlton: The response has been overwhelmingly positive. Users have told us that Spoony is a breath of fresh air in the often-toxic world of social media. They appreciate the platform’s focus on inclusivity, its user-kind design, and the genuine sense of community we’ve fostered. It’s incredibly rewarding to see how Spoony is making a tangible difference in people’s lives.
SmartCompany: What are your plans for the future of Spoony?
Nicholas Carlton: Our vision is to build Spoony into a global community where everyone feels welcomed, valued, and empowered to connect. We plan to continue developing new features that enhance user experience, expand our accessibility options, and further solidify Spoony as a leader in inclusive online spaces. We believe that everyone deserves to have a positive and meaningful online experience, and we’re committed to making that a reality.
SmartCompany: What message would you give to individuals who might be hesitant to try Spoony?
Nicholas Carlton: If you’re looking for a more supportive and inclusive online space, come give Spoony a try. we’re building a community where everyone belongs, and we can’t wait to welcome you.
