It’s been another week and another delicious round of funding for Australian startups. This was the first big number for 2023, with a few weeks of modest numbers complementing the start of the year.
We start in Perth, where Rumin8 just won $17.2 million. The funding was led by Breakthrough Energy Ventures (BEV), led by Bill Gates. There are also investments from other tech billionaires such as Jeff Bezos and Richard Branson.
Rumin8 is a climate technology company that has devised a way to reduce methane emissions from cow farts. Yes, it is.
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Adelaide-based biotech startup Ferronova has raised $11 million in funding led by Renew Pharmaceuticals Limited. Existing shareholders as well as Uniseed and Artesian Venture Partners participated. It was also funded by the Australian Government Collaborative Research Centre.
This cash bump follows a successful $4.6 million Series A round in 2020.
Ferronova specializes in nanoparticle cancer detection technology. It is designed to help detect and eliminate complex cancers, especially during the treatment of gastrointestinal and brain tumors.
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Medical tech startup EMVision has booked a $600,000 milestone payment from the Australian Stroke Alliance (ASA).
The company is focused on developing medical imaging technology for commercial purposes. We are currently developing a portable and cost-effective imaging device that uses electromagnetic microwave imaging for stroke diagnosis and monitoring.
The idea behind the device is to make stroke detection accessible and portable.
The development has been underway for 10 years by researchers at the University of Queensland. The company is currently conducting Phase 1 trials in healthy patients at Liverpool Hospital. Upon completion, a Phase 2 trial will be conducted in up to 150 acute stroke and stroke patients.
