This week’s funding landscape in the Australian and New Zealand startup scene is buzzing, with a collective haul of over $26.9 million. Leading the charge is Conflux Technology, a regional Victorian powerhouse that snagged an impressive $11 million in Series B funding. This investment was spearheaded by Breakthrough Victoria, which contributed $5 million, alongside notable players like AM Ventures and Acorn Capital. Founded in 2017 by Michael Fuller, who boasts a background in Formula One, Conflux specializes in the production of innovative heat exchangers. These devices are designed to transfer heat between fluids without mixing, a game-changer for efficiency in various applications. Fuller emphasized the monumental nature of this funding, stating that it allows Conflux to scale operations and enhance customer support globally. The potential for this technology to reduce environmental footprints while improving performance could set a new standard in additive manufacturing and heat transfer.
Next up is BuildPass, a Melbourne-based startup that secured $7.5 million in seed funding. Founded in 2021 by Matt Perrott and Aaron Vanston, BuildPass is on a mission to revolutionize construction site operations through AI-driven tools. The funding, led by Carthona Capital, will fuel the development of a new AI software aimed at boosting productivity and ensuring safety on construction sites. Perrott highlighted the importance of supporting smaller construction businesses, which have often been overlooked. With 400 companies already utilizing their platform, including national builders, BuildPass is not only enhancing operational efficiency but also helping to stabilize the construction industry during challenging times.
In New Zealand, Projectworks has raised AUD $7.5 million in a Series A round, aiming to accelerate its entry into the North American market. Founded in 2019 and now valued at $90 million, Projectworks is led by new CEO Mark Orttung, who brings a wealth of experience to the startup. His vision includes expanding customer acquisition and investing in research and development. With a focus on creating tailored solutions, Projectworks stands to make significant inroads into the competitive North American landscape, leveraging its existing relationships with prominent Australian tech consultancies.
Finally, we have DNAiTECH, which has secured NZ$1 million (approximately $904,000) in funding to develop instant diagnostic tests. Founded by Murray Broom and Tatiana Ceban in 2020, DNAiTECH’s innovations promise to deliver rapid, accurate diagnoses without the need for laboratory facilities. This capability is particularly vital for addressing diseases that significantly impact livestock and human populations, especially in developing regions. With backing from Sprout Agritech and support from Callaghan Innovation’s Deep Tech Incubator program, DNAiTECH is poised to change the diagnostic landscape, enabling clinicians to make quicker, more informed treatment decisions.
The success of these startups not only highlights the vibrancy of the ANZ tech ecosystem but also underscores a growing trend towards innovation in efficiency and sustainability. As these companies scale, their advancements could reshape industries, drive economic growth, and inspire further investment in technology that prioritizes both performance and environmental responsibility. The momentum generated by this week’s funding rounds signals a robust appetite for innovative solutions, setting the stage for future developments that could redefine how we approach challenges across various sectors.
