Funding highlights: October 19 to October 26 

Here’s a recap of recent funding developments from Australia, India, the US and beyond.

LifeBid secures $1.45 million through crowdfunding

LifeBid has triumphantly concluded a $1.45 million equity crowdfunding initiative in collaboration with Stride Equity, Australia’s inaugural venture-backed equity crowdfunding platform. The funds raised exceeded the initial target of $1 million, encompassing $820,000 from crowdfunding investors, outperforming the $370,000 objective. This initiative drew participation from 147 new investors, predominantly hailing from the financial sector, including some of Australia’s largest advisory firms.

Australia unveils its largest renewable hydrogen funding program

Australia has now initiated the expressions of interest (EOIs) for the Hydrogen Headstart Program, the largest-ever Australian Government-funded program dedicated to renewable hydrogen. This program is set to allocate up to A$2 billion in revenue support for large-scale renewable hydrogen projects. Australia has a vast pipeline of over 100 hydrogen projects, with a focus on investing in public infrastructure, low-emissions technologies, and the establishment of global hydrogen supply chains.

The EOIs will remain open until November 10, 2023. Only Australian companies are eligible as lead applicants for funding, although international investors can collaborate with Australian firms to form project consortiums. Austrade is available to facilitate connections between investors and Australian project proponents, and you can meet the Austrade team at Booth C12 during the APAC Hydrogen Summit in Sydney from October 26 to 27, where you can gain deeper insights into Australia’s burgeoning hydrogen industry.

Medtech Heidi Health raises $10 million in series A round

Heidi Health, a medtech company with a focus on general practitioners (GPs), has successfully secured $10 million in a Series A financing round. Blackbird Ventures once again took the lead in this round, with backing from Hostplus, Hesta, Wormhole Capital, Archangel Ventures, Possible Ventures, and Saniel Ventures. Heidi Health, previously known as Oscar, had previously raised $5 million in a Seed round led by Blackbird. The company’s software platform employs artificial intelligence (AI) to streamline clinical administration for GPs. This fresh injection of funds will be directed towards expanding their team of doctors, designers, and engineers, developing new AI-based products, enhancing clinic growth, expanding their GP customer base, and eventually venturing into the global market. Presently, over 30 clinics and more than 100 GPs are already utilizing Heidi Health.

Outstaffer raises $1.5 million in its maiden fundraising round

Outstaffer, an HR tech platform designed to assist businesses in the recruitment, equipping, and payroll management of their staff, has raised $1.5 million in its inaugural external fundraising round after three years of bootstrapping. This round was co-led by the startup’s new Chief Operating Officer, Michael Locaso, who previously served as the COO of Listing Loop, along with participation from Utiliti Ventures, 1in100 Ventures, and Side Stage Ventures. Several other venture capital firms, including Beachhead and Mondo Ventures, as well as Alua Group, Spring Capital, and Perth corporate advisor John Poynton, also contributed to the fundraising effort.

A $50 million property fund to streamline US investments for Australians

Distinguishing itself from existing alternatives, the Cornerstone International Property Fund offers both retail and wholesale investors an uncomplicated route to American real estate, all while obviating the requirement for investors to pay American taxes or establish foreign entities.

This innovative fund seeks to transform investment prospects for individuals aiming to diversify their portfolios, with a mere AU$50,000 as the minimum investment and a 12-month investment commitment. This pioneering fund is the brainchild of Lindsay Stewart and Michael Eagar, both based in Melbourne and boasting a wealth of experience and a successful track record in the US property market, funds management, and financial planning.

India aims to foster 15,000 Startups by 2030

The Industries Department of the Delhi government has unveiled an ambitious draft of its startup policy, with a target to foster and empower 15,000 startups by the year 2030. This comprehensive policy package encompasses collateral-free loans, expert guidance, and dedicated support for college students. Under the visionary Delhi Startup Policy, the aim is to transform the city into a global innovation hub and the ultimate choice for startups worldwide. The policy aspires to create a nurturing ecosystem for innovation-driven economic growth and promote entrepreneurship through robust support mechanisms.

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