Byron Bay furniture startup Koala closed a $20 million raise ahead of its ASX listing this week, valuing the business at $305 million. The DTC brand hit $175 million revenue within six years, scaling from mattress-in-a-box to whole-of-home furniture. Co-founder Dany Milham is back as CEO on $630k base after his grocery delivery detour with Milkrun.
OpenAI closed its Sora text-to-video app six months after launch, with Disney canceling a planned $1.4 billion investment. The shutdown affects sales teams exploring AI video tools for demos and social content. No Australian operations were impacted.
Melbourne IT integration startup Support Fusion closed a $1M pre-seed round led by Func Ventures and Exhort Ventures. The company is hiring go-to-market, partnerships, and customer success roles across Australia and the US. No comp details disclosed yet.
Eight ANZ startups raised $373.3M this week, led by NZ agtech Halter's $314M Series E at $2.9B valuation. Silicon Quantum Computing added $60M, Cauldron closed $35M Series A. Worth noting: these are deep tech and agtech plays, not sales software. Limited hiring data disclosed, but Halter's expansion into Australia signals potential AE and AM roles as they scale territory coverage.
Canva acquired Melbourne adtech startup Doohly for $30M, adding digital out-of-home advertising to its design platform. The deal marks Canva's sixth acquisition in two years and positions it to manage client branding from design through to in-store and outdoor advertising execution.
Cauldron Ferm closed $13.25M led by Main Sequence Ventures to scale hyper-fermentation tech in regional NSW. The 2022-founded biotech runs a 30,000-litre facility in Orange but hasn't disclosed sales team size, structure, or hiring plans. Worth noting for biotech sales professionals: no CRO, VP Sales, or revenue numbers public despite $19.5M total raised.
New Zealand agtech Halter closed a $314.4 million Series E led by Founders Fund, nearly tripling its valuation to $2.9 billion in under 12 months. The company, which makes GPS-enabled cattle collars, now employs over 300 people across NZ, Australia, and the US, with expansion into the UK and Ireland planned.
Sydney brothers Daniel and Will Roberts steered IREN from near-collapse (down 95% in 2022 crypto crash) to $17B market cap by pivoting from Bitcoin mining to AI data centres. The Nasdaq-listed company is hiring across commercial roles as it scales operations backed by renewable energy infrastructure.
Sam Kroonenburg's adtech startup Cuttable closed a $5.7M raise at a $100M valuation, double its August round. The Melbourne company is opening a New York office as US demand hits 50% of inbound. Total raised: $16M since mid-2024.
Advanced Navigation pulled $158 million Series C led by Airtree, with $50 million from NRFC. MiAI Law and Deftbiotech raised undisclosed amounts. Worth noting: this fits Q3 2025's pattern where top 10 deals captured 70% of ANZ's $1 billion in venture funding, concentrated in AI and deep tech.
New Carta data shows two-thirds of Australian startups are running on fumes, with 86% reporting higher burn rates over the past year. Translation for sales: fewer AE roles, longer ramp periods, and bridge rounds instead of growth hires. Victorian startups are hurting worst at 71% sub-12-month runway.
Sydney defence tech company Advanced Navigation closed a $158 million Series C led by Airtree, with $50 million from the NRFC. The company hired Michelle Toscan as APAC Head in December to drive sovereign positioning tech sales. Revenue hit $21.8 million in FY2024, but EBITDA was negative $14.3 million.