Six Australian startups that raised $18.4 million this week

This week’s startup funding round-up features six innovative Australian companies that are already making their mark in their chosen industry — from construction to healthcare and B2B communications.

Keep reading to learn more about six local startups that collectively raised $18.4 million this week.

Visibuild: $6.6 million

Leading this week’s funding round-up is construction tech startup Visibuild, which has secured the backing of Kim Jackson’s Skip Capital in a $6.6 million capital raise.

This is the first-ever external funding round for Visibuild, which was launched in 2021 by Damien Quinn, Renee Phelan, Ryan Treweek, Shaun Phelan and Dave Allie.

Visibuild aims to improve efficiency, collaboration and accountability to the construction sector through the use of its onsite quality-checking tool for subcontractors.

Already, the startup’s software is being used by 1,800 companies, including BESIX Westpac, Built Environs (McDonnell Dowell Group) and Icon, and some 700 projects have been tracked on its platform. According to Visibuild, it has helped some customers cut their defect costs by 50%.

At the same time, Visibuild’s software is being deployed across the majority of new data centre projects being developed across the country.

In a statement provided to SmartCompany, Visibuild said the new funding will accelerate its product development, “to address the construction industry’s need for higher efficiency, quality assurance, and sustainable building practices”.

In the statement, CEO and co-founder Damien Quinn said the construction sector continues to face “persistent productivity challenges, inefficiencies and cost overruns” and these are often caused by inadequate quality assurance practices.

“By fostering cultural change throughout the supply chain, we aim to elevate industry standards and improve outcomes for all stakeholders,” he said.

“We’re thrilled to have Skip Capital’s support as we expand across Australia and into new markets. Their involvement in infrastructure investment and project management software aligns perfectly with our goals and will be valuable as we drive Visibuild’s growth globally,” he added.

My Mirror: $4 million

Perth-based healthtech startup My Mirror also has fresh funding to help it grow, after raising $4 million in a round led by WA-based VC fund Purpose Ventures.

The capital raise was also supported by a number of new and existing investors, including prominent venture capitalist Roger Allen.

Founded in 2019 by Dr Matthew Zoeller and Joshua Liwszyc, My Mirror specialises in improving access to mental health care across Australia via its telehealth platform. To date, more than 18,000 Australians have used the platform to access more than 60,000 psychology sessions.

My Mirror provides users access to psychologists via a number of different funding options, including private- , insurer- and Medicare-funded Employee Assistance Programs and via the National Disability Insurance Scheme.

Many Australians encounter long waitlists when trying to obtain mental health care support, while the high costs involved also mean such care is out of reach for many.

My Mirror wants to address these systemic barriers by creating a digital platform that brings together referrers, triage services, patients, funding sources and clinicians. To do so, it has created its own proprietary software that can be integrated with key industry players.

The new funding is earmarked for further platform development and My Mirror’s expansion into New Zealand.

In a statement provided to SmartCompany, My Mirror CEO Joshua Liwszyc said the team is grateful for the continued support of its investors and is excited to add Purpose Ventures to that list.

“My Mirror is uniquely positioned to scale, connect parts of the ecosystem, and deliver meaningful improvements in mental health care,” he added.

Cambium Bio: $3 million

Cambium Bio has raised $3 million to advance its Phase 3 clinical trials for Elate Ocular, a treatment for dry eye disease. The funding includes contributions from new strategic investor AventaCell Biomedical Corp, existing shareholder Zheng Yang Biomedical Technology, and the company’s directors and CEO.

“We are delighted with the strong support received in this capital raising, particularly from AventaCell Biomedical Corp as a new strategic investor,” Cambium Bio CEO Karolis Rosickas said.

“AventaCell’s global leadership in cell culture supplements using our human platelet technology makes them an ideal partner as we advance our therapeutic programs.”

The funds will also provide working capital for Cambium’s ongoing operations as it aims to deliver innovative biologics for ophthalmology and tissue repair applications.

Freckle: $2.9 million

Freckle founder Nathan Merzvinskis is relocating from San Francisco back to Melbourne, after raising $2.9 million in pre-seed funding for his data enrichment and research platform.

Designed for non-technical users, Freckle seeks to help companies in the B2B space improve the data they have about their potential or existing customers, and the way they communicate with these prospects.

For example, the startup says its platform, which combines AI-based research and data enrichment providers, could be used by companies to compile and target lists of leads, investors, event attendees or candidates.

In a blog post announcing the new funding, Freckle said it has onboarded 232 customers to the platform since its beta was released five years ago.

As reported by Capital Brief, Merzvinskis previously founded Everproof, which was acquired by GO1, and served as chief of staff at Skedulo.

The pre-seed funding comes from lead investor Asymmetric Capital Partners, with Brenteca Investments, Mintaka VC, CoVentures and Polaris Ventures also participating.

Old Young’s Distillery: $1.4 million

Western Australia’s Old Young’s Distillery has raised $1.4 million in an equity crowdfunding campaign on Birchal.

The funds raised will help build Old Young’s new $30 million ‘Cathedral of Gin’ which the company hopes will become a tourist drawcard. The new facility will feature sustainable distillation technology, immersive visitor experiences, and fine dining options.

Founder James Young offered a unique reward for high-tier investors: a ‘Ginternship’ involving an all-expenses-paid, global gin education tour.

Investors contributing over $250,000 will travel across four continents, visiting renowned distilleries, Michelin-starred restaurants, and mixology masterclasses, before returning to the WA to create their own signature gin.

“This is the most valuable and lavish investor reward ever offered in Australia. It’s an adult’s version of Willy Wonka’s factory tour – except it’s gin, and James Young is your guide. Anyone with a passion for gin would go to great lengths for this reward,” Matt Vitale, head of Birchal Equity Crowdfunding, said.

Taly: $500,000

Melbourne-based startup Taly has raised $500,000 in pre-seed funding led by Skalata Ventures to help transform how companies use personality data.

Founder Peter Treloar said while $4.3 billion is spent annually on personality testing, “most of it sits unused after the first week”. Taly aims to address this problem by turning static personality tests into management tools.

The platform uses AI to provide managers with real-time coaching, offering personalised insights before key moments like performance reviews or team restructures.

Early adopters include Motorola and Maurice Blackburn, with over 4,000 personality profiles processed to date.

The funding will be used to expand Taly’s AI capabilities, strengthen its platform infrastructure, and launch trials in Canada.

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