Eight Aussie startups that raised $118.8 million this week

This week, eight Australian startups have successfully secured fresh funding to support their ambitious projects. Here is a summary of each startup and the amount of funding they received:

1. Samsara Eco: $100 million
Samsara Eco, a recycling pioneer, has raised an impressive $100 million in Series A extension funding. The startup focuses on ‘infinite recycling’, a process that repurposes hard-to-recycle materials like nylon and polyester. The funding will help expand operations through south-east Asia, and Lululemon has become a minority shareholder in the company.

2. Diraq: $10.5 million
Quantum computing startup Diraq has raised another $10.5 million (US$7 million) in an extended Series A funding round. The startup, founded by Andrew Dzurak and spun out of the University of New South Wales, plans to use the funds to build a commercially viable quantum computer faster than competitors.

3. 1Breadcrumb: $4 million
1Breadcrumb, a workplace safety startup, has raised $4 million as it prepares to expand into the UK and US. The software helps operators save time and improve productivity by streamlining safety requirements for workers and subcontractors on construction sites.

4. Aquila: $2 million
Deep tech startup Aquila has secured $2 million in follow-on funding to continue building wireless power transmission products. The startup completed the Startmate accelerator in 2023 and has successfully trialed its wireless drone charging technology.

5. National Renewable Network: $1 million
Sydney-based National Renewable Network has locked in $1 million in pre-Series A bridge funding, led by Investible’s Climate Tech Fund. The startup works with energy retailers and consumers to offer solar and battery installations at no upfront cost.

6. Klean: $725,000
Klean, a startup that helps brands measure and communicate their environmental, social, and governance (ESG) credentials, has raised $725,000 in pre-seed funding. The startup is focused on helping brands connect with and retain customers who care about their ESG activities.

7. Bearhug: $325,000
Sydney-based startup Bearhug has raised $325,000 from investors to scale its reusable pallet wraps, designed to eliminate single-use plastic from supply chains for fast-moving consumer goods.

8. Sindy Labs: $300,000
Melbourne-based AI startup Sindy Labs has secured a US$200,000 ($300,000) investment after being selected for the Skydeck accelerator run by UC Berkeley. Sindy Labs is developing AI-enabled enterprise software for universities to engage, assess, provide personalized feedback, and ensure academic integrity in large cohorts.

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