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.
Four Australian startups raised $31.9 million across energy, legal tech, health, and construction. MGA Thermal's $17 million clean energy round led the week. Context: ANZ hit $5.1 billion in 2025 funding, but this signals a return to smaller deals after Q4's $2 billion surge.
Australian construction tech startup Scopey Onsite closed $850k pre-seed funding after relocating HQ to Ireland. The AI platform turns WhatsApp messages into structured site records. No details on sales team size, hiring plans, or comp structure disclosed.
Quieter funding week with $31.9M across four deals. Firmable, an AI sales intelligence platform, closed close to $20M Series A led by Airtree for US expansion. MGA Thermal added $17M for industrial energy storage. ANZ VC remains selective: Q3 2025 hit $1B across 116 rounds, 70% concentrated in top 10 deals.
MGA Thermal closed $17 million led by IP Group Australia. The Newcastle-based thermal energy storage startup has now raised $50 million total. No hiring numbers disclosed, but CEO Mark Croudace says they are scaling commercial capability and manufacturing.
Melbourne fintech Pay.com.au is eyeing an April ASX listing at $850m valuation, raising $85m. The company processed $2bn in payments for 50,000 SMEs, but sales team size and expansion hiring plans remain unclear. Worth watching if you are tracking ANZ fintech growth.
Sydney legal tech startup Mary Technology closed a $7M Series A led by OIF Ventures. The company serves 2,000+ lawyers across 100+ ANZ firms but has not announced dedicated sales leadership or hiring plans. Founder-led GTM continues as they eye US expansion.
NSW government opened applications for a new emerging tech commercialisation fund targeting the gap between early evidence and investable product. First round: $7m available. Worth noting: this is government money with the usual strings attached, but it targets a real problem for ANZ startups trying to scale before they can raise from VCs.
Sydney medtech Lumonus added $3m to its Series B four months after the initial close, bringing total raise to $28m. The funds are going straight into US go-to-market and clinical success teams. Translation: they are hiring sales roles to scale their AI-powered cancer treatment platform across US health systems.
Dog food startup Lyka landed $67 million from New York VC LGVP, leading this week's funding round. Five other ANZ startups raised capital, totaling $123.2 million across consumer and B2B plays. Worth watching: B2B sales platform Firmable also secured funding, though specific numbers were not disclosed.
Anthropic lost Pentagon contracts after refusing to remove safeguards on mass surveillance and autonomous weapons. As Australia pushes dual-use tech funding, local AI startups will face the same choice: accept military revenue or hold ethical boundaries. This is not theoretical anymore.