This week’s funding highlights feature an array of innovative startups securing substantial investments. Let’s delve into the latest funding rounds for a health tech company, a cash management platform, an end-of-life planning solution, and a unique cold brew tea producer.
Kismet takes the lead with an impressive $20 million boost to its seed funding round. This brings the total seed funding for the health tech startup to $32.5 million. Noteworthy investors include global consumer internet group Prosus Ventures, Airtree Ventures, and newcomer MassMutual Ventures from Singapore. The startup, founded in early 2023, aims to revolutionize healthcare using AI solutions, with a focus on the NDIS and aged care sectors. Already a key player in the NDIS space, serving over 20,000 participants, Kismet is eyeing international expansion while keeping a lean team structure.
In the cash management realm, Primary secures $3.5 million in its second VC funding round, led by Carthona Capital. Founded in 2022, Primary offers SMEs and startups access to higher-yield interest products compared to traditional lenders. With over $150 million in funds under administration and partnerships with major financial institutions, Primary is empowering businesses to optimize their cash reserves efficiently.
Willed, a will-writing and end-of-life planning startup, closes a $3 million funding round, backed by Seven West Media’s venture fund. The investment will fuel Willed’s growth trajectory, aiming to address the staggering statistic that over 50% of Australian adults lack valid wills. Through strategic partnerships and a mission to simplify end-of-life planning, Willed is poised to make a significant impact in this essential space.
Lastly, Brisbane-based East Forged secures $1.5 million from GMAA to propel its innovative cold brew nitro tea into global markets. Founded by industry experts Tania Stacey and Kym Cooper, East Forged’s unique tea offerings are gaining traction in premium retail outlets and online platforms focused on health-conscious products. With plans to expand production capabilities and penetrate key Asian markets, East Forged is set to make waves in the craft tea industry.
These funding rounds underscore the diverse and dynamic innovation landscape, showcasing startups making waves in health tech, finance, end-of-life planning, and beverage industries. Stay tuned for more exciting developments in the startup ecosystem!