This week in Aussie Startups 26/2/2024

Newsletter by Haris Qureshi

This is an extract from This week in Aussie Startups by Hari Qureshi


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This week has seen a significant influx of funding into the Australian startup ecosystem, totaling $64.5M across four distinct rounds. The highlights include:

  1. Hatch secured $7M in funding, marking a strong vote of confidence in its business model and growth prospects.

  2. Gilmour Space Technologies led the funding spree with a substantial $55M investment, underscoring its pivotal role in the space technology sector.

  3. FirstWave (ASX: FCT) raised $2.5M, demonstrating continued investor interest in its technology solutions.

  4. Wrappr also participated in this week's funding activities, though the amount remains undisclosed, signaling ongoing support for innovative startups.

In other Australian business news:

  • WiseTech Global shares reached a new peak, pushing its market cap to an impressive $30B.

  • Startmate’s summer cohort has made a significant move by investing in startups with women cofounders for 60% of its selections.

  • Dempstah received recognition by winning eBay’s 2024 Circular Fashion Fund, for its innovative approach to transforming textile waste into knitwear.

  • hipages Group reported a profit increase to $3.7M alongside a 15% revenue jump, amidst a competitive environment for tradies due to fewer jobs.

  • Canva is making headlines with its $39B futuristic office space, signaling its leadership in workplace innovation.

  • Samsara Eco and lululemon have introduced the first-ever infinitely recycled nylon, marking a significant advancement in sustainable materials.

  • Casey Flint provided insights from summarizing 1,000 conversations about AI last year, highlighting the growing importance of AI in business and society.

  • AirTree celebrated its 10th anniversary, reflecting on its journey since its first Investor Presentation in 2014.

  • Listing Loop has expanded its market presence through the acquisition of Hello Haus, indicating strategic growth in the real estate sector.

These developments not only reflect the dynamic nature of the Australian startup ecosystem but also signal strong growth and innovation across various sectors.