Another month, another record broken. That’s right, the record-breaking growth in Australia’s tech scene shows no signs of slowing down!
Just take a look at ClimateTech startup FloodMapp, who raised a whopping $8.4 million and broke the record for the largest Australian seed round. They’ll use the funding to scale operations and expand into new markets.
“The world is facing a climate crisis and we need the best and brightest thinkers, innovators and inventors from around the world to turn their collective talent to finding solutions.
We are now ready for the next stage of our development: scaling the business model to assist more communities and people affected by flooding.”
And FloodMapp isn’t the only tech company focused on helping the environment. Sydney’s very own Grok Ventures recently made a massive addition to its sustainability-focused startup portfolio, backing renewables funding firm Infradebt with a staggering $200 million investment.
“Grok Ventures are one of the foundation investors in Infradebt’s ethical fund. We are extremely pleased to welcome them as a shareholder as Infradebt moves to the next phase of its growth.”
But the good news doesn’t stop there. Australia’s hottest crypto startup Immutable is partnering with NYSE-listed gaming giant GameStop to create the world’s biggest gaming NFT marketplace. As part of their collaboration, the two companies are looking to launch a fund worth up to US$100 million for NFT gaming projects.
“GameStop’s NFT marketplace will bring the power of an insanely strong community to its over 50 million users and every developer that launches on it, and our technology will make it faster, easier, and more affordable to do so – while being 100% carbon-neutral.”
The effects of a partnership of this scale is likely to transcend Sydney’s tech space, and propel the Aussie tech scene forward on a global scale. And in an effort to further drive Australian innovation, The Victorian government is partnering with V-Ignite to build a $120 million startup fund.
“By creating a successful collaboration model, V-Ignite believes we can ignite the next wave of Victorian and Australian innovation. The government allocated the funds for the VSCF two years ago after LaunchVic research identified a material $100 million shortfall in early-stage funding in Victorian startups.”
If all these headlines and government initiatives still aren’t enough to make you believe in Australia’s tech growth potential, let’s take a look at what Apple CEO Tim Cook has to say.
“Australia is a country that’s incredibly innovative, a country that’s incredibly resilient, a country of great creativity. We’ve seen apps come out of Australia that are mind-blowing.
In Silicon Valley, in particular, we have a very sophisticated mixture of universities, like Stanford and Berkeley, venture capital and a start-up community. And a place with great weather where people want to live. All of those together add up to an unbelievable, thriving, entrepreneurial area. And I think Australia has all of those.”
If Tim Cook believes that Australia is a perfect tech breeding ground, we’re very excited for what’s coming next. To keep updated and explore the local tech scene in Sydney, check out the map.