Dynamic Business brings you the key startup fundraising from this week
Ideally secures $5.5m funding
Ideally, a research platform designed to integrate customer insights into product innovation, concept development, and creativity, has announced a $5.5 million AUD funding round led by Icehouse Ventures and OIF Ventures.
This round follows its initial funding in 2023, also led by Icehouse Ventures, which has doubled down on its investment due to Ideally’s impactful approach to customer insights. Founded in New Zealand by James Donald, Brendan Cervin, and Joshua Nu’u-Steele, Ideally was launched in partnership with Previously Unavailable and TRA Labs, the venture studio arm of leading insights agency TRA.
Cartherics bags $15 million
Melbourne biotech startup Cartherics has secured $15 million to initiate trials of its cell therapy product for ovarian cancer. Founded in 2015 by Alan Trounson, Bob Moses, and doctors Richard Boyd, Ian Nisbet, and Peter Hudson, Cartherics focuses on developing immune cell therapies for cancer and other diseases. The startup previously raised $26 million, including $19 million in 2019. The new funding will support the first clinical trial of CTH-401, its lead product, and expand its pipeline to include other disease treatments.
Zitcha bags $15 million Series A
Retail media startup Zitcha has raised $15 million in a Series A round, aiming to expand its operations to the US. The funding was led by US-based VMG Partners, with support from existing investor OIF Ventures, which also backed Zitcha’s $4.7 million Seed round in 2022. The investment marks VMG Technology’s first backing of an Australian company.
7 Kiwi startups share NZ$17.5m in grant funding
Seven Kiwi startups, covering sectors like space, health, and cleantech, have received NZ$17.5 million in government funding through the Ārohia Trailblazer grants program. The program, administered by Callaghan Innovation, aims to support startups with global potential. The recipients include Astrix Astronautics, Basis NZ, Emrod, Fabrum Solutions, Toku Eyes, Zincovery Process Technologies, and Zenno Astronautics.
OpenAI value surges to $157bn in latest funding round
ChatGPT maker OpenAI has raised $6.6 billion in its latest funding round, bringing the company’s valuation to $157 billion (£118 billion), on par with Goldman Sachs. The round included investors Thrive Capital, SoftBank, Nvidia, and Microsoft. The funding comes amid internal leadership challenges and debates over the company’s future direction.
ZBiotics raises $12M in Series A Funding
Biotech company ZBiotics has raised $12 million in a Series A funding round. The company plans to use the funds to expand distribution and develop new GMO probiotic products. ZBiotics’ flagship product, a Pre-Alcohol Probiotic Drink, mimics liver function by breaking down acetaldehyde, the toxic byproduct of alcohol.
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