Dynamic Business brings you the key startup fundraising from this week:
Akur8 secures $120 million in series C round
Akur8, the machine learning-powered insurance pricing and reserving platform, has successfully raised $120 million in a Series C funding round. This brings its total investment to $180 million. The round was led by growth equity firm One Peak, with participation from Partners Group.
Since 2019, Akur8 has been transforming non-life insurance pricing with its transparent AI technology. The platform’s cloud-based, fully integrated system allows insurers to set prices at unprecedented speeds, improving financial outcomes and risk assessments. With the acquisition of the Arius reserving platform, Akur8 is broadening its product offerings and customer reach globally.
East Forged secures $1.5 million in funding
East Forged has completed a $1.5 million capital raise led by Global Mind Agriculture Australia (GMAA), the venture capital arm of Vietnam’s TTC AgriS. Founded in 2020, East Forged offers a unique range of cold-brewed iced teas, naturally crafted without added sugars, colors, or artificial flavors.
Available at Harris Farm, select IGAs, and WHSmith stores across Australia, the new funding will enhance production capabilities and support expansion into key Asian markets. East Forged aims to solidify its position as a leader in the rapidly growing craft tea industry.
Primary raises $3.5 million in seed round
Cash management fintech Primary has raised $3.5 million in Seed funding to help small businesses better manage their capital. The round was led by Carthona Capital, with additional support from Macdoch Ventures, Archangel, AfterWork Ventures, Ari Klinger’s No Brand, and Singapore’s Resolution Ventures. This brings Primary’s total funding to $4.75 million.
Founded in 2022 by Ben Buckingham, Primary connects startups and SMEs with low-risk, high-interest financial products from institutions like Morgan Stanley and Macquarie, enhancing returns on their cash reserves. Carthona partner Damian Fox will join the company’s board as part of the deal.
NDIS startup Kismet raises additional $20 million
Melbourne-based NDIS management platform Kismet has raised an additional $20 million, following a $12.6 million Seed round six months ago. Singapore’s MassMutual Ventures joined this latest round, further boosting Kismet’s resources.
The initial Seed round, led by Prosus Ventures and Airtree, along with previous backers Black Nova and Flying Fox, brought the company’s total funding to A$32.6 million. Kismet aims to streamline the management of NDIS services, positioning itself as a leader in the Australian healthcare sector.
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