The undisputed champion of the mega raise, Airwallex, added to the more than ~$400M Series E it kicked off last year. The international transaction and banking focussed fintech has raised just shy of $1.5B since its 2015 launch. The plan (also the plan post the November '21 Series E tranche) is to take advantage of lower global startup valuations and enter acquisition mode. Our search into Airwallex's acquisition history surfaced just UniCard -- a Hong Kong payments business Airwallex acquired in early 2021.
Pre-commercial launch food tech startup Nourish Ingredients raised a tasty super-sized $45M Series A. The startup, which last raised an $11M Seed in May last year, develops fats and oils that make alternative proteins smell, taste and cook better. The funding will support Nourish's transition out of MVP mode, with the expectation that their tasty fats will start appearing in specialty foods and on-shelf next year.
And shifting from fake foods for humans to real foods for dogs, Lyka raised its Series B to expand its manufacturing capabilities nationwide. The canine chef has tapped investors annually in each of the last three years, including ~$11.5M last year split across two rounds. Lyka has now delivered over 10M meals - and for the more particular pooch, Lyka now offers custom-designed meal plans based on their breed, size, and food restrictions. The founders of Pet Circle and Petbarn joined several local VCs in the round.
Solar technology and manufacturing company Sundrive raised a Series A to help keep Aussie solar tech local. The startup takes advantage of UNSW-developed IP, which replaces silver (expensive) with copper (cheap) in producing solar panel cells. If Sundrive wins, it'll be a triple barrel victory for Australia: Australia built, with Australian IP, using Australian base minerals. A bevvy of local VCs backed the round, alongside ex-PM Turnbull and Canva co-founder Cameron Adams.
Reverse mortgage player Household Capital, which offers "BoMaD" (Bank of Mum and Dad) as a product (I'm not remotely kidding), raised its Series C from Genworth. I will leave this one at that.