Funding

Australia’s space research centre, SmartSat Cooperative Research Centre (CRC), announced a suite of new R&D projects and university appointments in support of the ACT Space Update 2023 unveiled in Canberra today, bringing its joint investment in the ACT to over $7 million. With the launch of the ACT Space Update 2023, SmartSat is amplifying this unwavering commitment by injecting new funds into research in space technologies addressing bushfire resilience, spacecraft system autonomy, space objects surveillance and cybersecurity.

Zero Carbon, a company primarily dedicated to bringing carbon-reducing technologies to the Middle East and North Africa region, has announced the closing of its seed investment round. This also coincides with the appointment of His Highness Sheikh Ahmed bin Mana bin Khalifa Al Maktoum as the company's strategic investor and chairman of the board of directors.

Australian fast-growing hospitality technology platform Ordermentum has announced that it has acquired wholesale food marketplace Foodbomb to further accelerate its ambitious national growth strategy and continue to digitise the food and beverage ordering industry. As part of the acquisition, Ordermentum has also closed an oversubscribed capital round of $16m, with follow-on investments from Matt Rockman, David Gordon and Perennial Private Ventures Fund, and new investors participating like Microequities Asset Management, Aditum Ventures (part of DIFC-based Aditum Investment Management Ltd), and listed investment fund Touch Ventures. The investment values the combined business at over $100 million.

Databricks, the Data and AI company, announced its Series I funding, raising over $500m. This funding values the company at $43 billion and establishes the price per share at $73.50. The series is led by funds and accounts advised by T. Rowe Price Associates which is joined by existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds and accounts managed by Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, GIC, Octahedron Capital and Tiger Global along with new investors Capital One Ventures, Ontario Teachers’ Pension Plan and NVIDIA. 

Galvanize Climate Solutions (Galvanize), a world-renown climate-focused investment firm, announced the final close of its Innovation + Expansion Fund (the Fund) at over $1 billion. With strong commitments from diverse institutional investors, including leading endowments, foundations and family offices, the Innovation + Expansion Fund is one of the largest climate venture funds raised to date. The Innovation + Expansion Fund targets investments in early- to growth- stage climate companies that drive timely decarbonization, providing both capital as well as interdisciplinary resources to help accelerate the path to commercial scale.

Denodo, a data management firm, and TPG, a global alternative asset management firm, announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336m in Denodo’s Series B preferred equity. The transaction, which includes primary capital and a secondary sale of shares by HGGC, is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.

Ecopol S.p.A., a developer and producer of biodegradable films and delivery systems, has announced the completion of a strategic investment from affiliates of SK Capital Partners, LP, an investment firm focused on the specialty materials, ingredients, and life sciences sectors. SK Capital has acquired a majority stake with Mauro Carbone, Ecopol’s CEO and controlling shareholder, retaining a significant stake and remaining as both the CEO and largest individual shareholder. It has also announced a Board of Directors, which includes industry leaders with expertise across sustainable materials and consumer packaged goods markets in Ecopol’s value chains, like Jan-Dirk Auris, E. Craig Mitchell, Daniele Ferrari and Dave Mezzanotte.

Piedmont Lithium (Piedmont), a global supplier of lithium resources critical to the U.S. electric vehicle supply chain, announced that the Minerals Income Investment Fund of Ghana (MIIF) has agreed to invest $27.9 million to acquire a 6% stake in the Ewoyaa Lithium Project (Ewoyaa) and an additional $5 million in Piedmont partner Atlantic Lithium Limited (Atlantic).

Canadian-based mineral exploration and development company Resouro has completed its A$3.24m capital raise led by Regal Funds Management ahead of its ASX dual listing. Resouro is focused on the discovery and advancement of economic mineral projects in Brazil and owns 33% stake (with the option to buy 90%) in the Tiros Titanium and Rare Earths Project.

The Australian Design Council, a not-for-profit industry organisation primarily dedicated to driving national prosperity and long-term growth through design, revealed that it has received a significant boost to its mission with a generous $1 million donation from Peter Freedman AM, Founder and Chairman of RØDE, one of the world's leading creator technology brands.