Ampol is acquiring EV charging network Evie Networks for $225 million, combining 1,425 charging bays across 400+ sites. The deal banks on national coverage and lease control, not current profitability: breakeven is forecast for 2028, with $30m+ EBITDA targeted within three years.
Skopos Bio landed $12M for cancer radiopharmaceuticals, Trendspek raised for AI infrastructure tools, and R2Crete secured funding for waste concrete processing. The oncology round from Forrest's Tenmile and Reed Jobs' Yosemite signals continued investor appetite for regulated-market plays. Worth noting: no sales hiring details disclosed in any announcement.
Eastend Ventures closed its first fund at $30 million, backed by Funds SA and 50+ investors. The Adelaide firm targets early-stage B2B startups in SA, WA and Queensland, betting on realistic exits over unicorn valuations. Already deployed $8 million across seven companies.
Treasury's R&D tax changes will strip 70% of eligible claims from AI startups, mostly supporting activities like engineering and testing. The Tech Council warns the offset increase won't cover the loss. Combined with CGT changes, startups lose both runway and exit incentives. That means hiring freezes and headcount cuts.
Paperbark killed two products in seven months before landing Unilever brands Onnit and Olly. The Sydney ecommerce data startup now tracks customer journeys after ad conversion, solving revenue leakage for consumer brands. Worth noting: they burned half their runway before finding product-market fit.
Sydney infrastructure software vendor Trendspek closed a $6 million raise led by OIF Ventures. The company sells 3D asset monitoring to utilities, ports and energy operators. Expansion into North America and Europe means new commercial hires, though specific headcount and comp details were not disclosed.
Christchurch agtech Onside acquired fellow workflow software company Assura for an undisclosed sum, combining platforms that now serve 60,000 users across six countries. The company reported 114% ARR growth and is beginning a capital raise to fund expansion, but didn't disclose revenue or target raise amount.
Four months after cutting 14% of headcount and exiting 22 countries, GitLab shipped a $286M quarter with 24% billings growth. Revenue grew 21% but Q3 is guided down due to Flex recognition timing. New consumption model did $20M in six weeks.
Sydney proptech RentBetter closed $5 million from EVP to build AI property management tools. The 2016-founded company is profitable but won't disclose revenue, headcount, or what the round valued it at. Previous raise was $1.9 million in 2022.
Heidi's $140 million Series C leads this week's funding haul, valuing the AI healthcare platform at $1.26 billion. Six other startups closed rounds across medtech, proptech, and fintech. The deals signal continued investor appetite for B2B software and applied AI plays in ANZ.
Australian founders are moving companies offshore earlier than they otherwise would, driven by capital gains tax exposure that gets worse as valuations climb. The flip-up gets harder once you have revenue and investors. Lawyers say cost and complexity push founders to Delaware before they raise serious money.
Bowral-based medical edtech Medcast closed a $5.4 million raise led by Best Practice Software to scale MedLuma, its AI clinical knowledge platform for Australian GPs. The round was oversubscribed. Funding goes toward tech and clinical hiring, plus integration with Best Practice's practice management software, which holds 80% of the GP market in Australia.