Latest updates for ANZ sales professionals
Canberra waste-tech startup Goterra entered administration after burning through $20M+ in funding. The collapse highlights a structural problem: climate tech companies outgrow venture capital before they are bankable for infrastructure finance. For sales professionals, this funding gap means unstable comp, sudden layoffs, and territory shutdowns at late-stage climate startups.
Startmate landed $8 million from Minderoo Foundation to back more women founders through its accelerator. The program puts in $120k at seed for 10% equity, runs 12 weeks of programming, then supports until the next round. Track record: 52% of founders raise $1M to $4M post-program. Female founders get 2% of VC funding in ANZ despite better returns.
Silicon Quantum Computing landed $40m from the National Reconstruction Fund, bringing its government backing to $60m in three months. Dentroid, Earlytrade, and ReSmart closed the remaining $47.3m. The week sits within Australia's $5.1b funding year, third-largest on record.
Richard White-backed Vinyl Group (ASX:VNL) closed Time Out Australia for nominal consideration, 24 hours after picking up Pedestrian.TV from Nine. Raised $2.4m at $0.054 per share to fund integration. Time Out Australia is profitable, expected to be earnings accretive in FY27.
Australian construction fintech Earlytrade secured $14.2 million in new funding, bringing total raised to $35.5 million. The company is expanding US operations and hiring into sales roles as revenue grows sevenfold since 2024 launch. Worth noting for construction fintech sales professionals: the sector is still attracting capital.
Federal government is considering exempting startups from its proposed capital gains tax overhaul after weeks of industry backlash. The change would replace the 50% CGT discount with cost-based indexation from July 2027, materially increasing founders' tax bills on exit. Ministers are working through eligibility criteria, potentially using existing startup incentive frameworks.
The federal government has axed its Startup Year program after attracting just 8 participants from a target of 2,000 annual loans. The scheme offered HECS-style funding for university students in startup accelerators. $80,000 was drawn down before the May budget killed it.
Canberra ag-tech startup Goterra, backed by Mike Cannon-Brookes' Grok Ventures in an $8 million Series A, has appointed administrators. The insect-waste processing company says it has working tech and contracted customers but ran out of runway chasing growth capital. Teneo is pursuing a going-concern sale.
The Victorian government has axed its Startup Year program, which burned $15.4 million over four years to attract just eight participants. The scheme offered HECS-style loans for university students joining startup accelerators. It was meant to support 2,000 students annually.
Nine Entertainment offloaded youth publisher Pedestrian to Vinyl Group for nominal consideration after spending $49M over a decade. The deal signals continued media sector contraction, with implications for digital sales teams as legacy publishers shed non-core assets. No headcount or sales org details disclosed.
AI company Anthropic raised $65B at a $965B valuation and filed for IPO, four years after founding. The company is doing $47B in annualized revenue with 5,000 employees: $9.4M per head. That is 4x what Apple and Google generate per employee, and it breaks every assumption about how enterprise software scales.
Seven ANZ startups closed deals totaling $17 million in early June. QuantX Labs led with a $7 million seed round for quantum sensing tech sold to Defence. Two startups headed to Y Combinator. Socceroo Tim Cahill joined one as investor and advisor.