From dog feed and fertiliser, to B2B sales and teaching entrepreneurship, the local startups that have raised fresh funding this week are as varied as they are ambitious.
We’ve counted six Australian startups with new funding deals this week, with a collective total of more than $123 million raised.
Keep reading to learn more.
Lyka: $67 million
Fresh dog food subscription startup Lyka has raised $67 million in a Series C round led by New York-based VC firm LGVP.
This follows a $30 million Series B round in 2022 that was topped up to $55 million in 2023.
Founded by former Bain & Company consultant Anna Podolsky, Lyka delivers personalised, freshly prepared meals to dogs via a direct-to-consumer subscription model.
The company says it has grown to around $200 million in annual recurring revenue and now serves more than 100,000 active dogs across Australia.
The pitch centres on tailored nutrition designed to support long-term health, at a time when Australian pet owners are spending an estimated $21.3 billion annually on their animals, with food accounting for close to half that figure, according to Animal Medicines Australia.
Lyka also points to its B Corp certification and carbon-negative status as part of its differentiation strategy in a crowded pet food market.
PlasmaLeap: $28 million
Sydney startup PlasmaLeap Technologies has raised US$20 million (AU$28 million) in a Series A round to reduce carbon emissions in fertiliser and fuel production.
The raise, closed in January, was co-led by the Gates Foundation, Investible and Yara Growth Ventures, the VC arm of nitrogen fertilisers producer Yara International. Additional support came from Twynam, GrainCorp Ventures, Uniseed/UniSuper, Artesian, SVG Ventures and Kiwi fertiliser cooperative Ravensdown’s Agnition Ventures.
The funds will go to first-of-a-kind fertiliser hubs in New South Wales and Tasmania, expanding field trials, and developing PlasmaLeap’s core technology as it looks to support longer-term use in sustainable fuels and energy systems.
PlasmaLeap, founded in 2019 and spun out of the University of Sydney, is developing zero-emissions chemical reactors for the synthesis of green fuels and chemicals. They enable farmers to produce sustainable nitrogen fertiliser directly on their farms or at local hubs, to cut emissions, input costs, and supply-chain dependency.
The PlasmaLeap modular reactors produce ammonia and nitrate using only air, water, and renewable electricity.
Ammonia is the primary ingredient in most nitrogen fertilisers, a core input for agriculture and worth around $100 billion globally a year. Its production, transport, and application accounts are also major contributors to carbon emissions.
Firmable: $14 million
Artificial intelligence B2B sales startup Firmable has raised $14 million in a Series A round for expansion into the US.
The investment was led by existing investor Airtree, which led the previous $9 million raise in October 2023. Other investors include former Pacific Brands CEO Sue Morphet, A Cloud Guru co-founder Sam Kroonenburg, Redbubble’s Martin Hosking, and Aconex co-founder Rob Phillpot.
The new capital will go towards its US rollout as well as further development of specialist sales data and buying signals, and the build-out of AI agents to execute actions for sales teams.
Firmable was co-founded by former Aconex trio Leigh Jasper, Paul Perrett, and Karthik Venkatasubramanian in 2023 to improve sales productivity with new AI tools and approaches.
It took a patchwork of data and software tools and merged them into a single platform underpinned by proprietary account data to track buying signals and automate sales tasks and administration.
The platform now has more than 1,000 customers, including CBRE, Eftsure, G2, Robert Half, Monday.com, Marsh, and Canon, operating in Australia and New Zealand as well as eight markets in the Asia-Pacific region.
Veyor: $10.5 million
Logistics startup Veyor has raised $10.5 million in Series A funding, valuing the business between $50 million and $75 million, as it expands further in the US.
The round was led by international venture capital firm Marbruck Investments, with participation from CoAct and returning investors Investible and SpringCapital. This follows a $2.75 million pre-Series A round in 2024.
Veyor builds operational software that digitises site logistics and materials coordination. The company says this is an area of construction that is still frequently managed through email chains and spreadsheets.
The platform functions as a real-time system of record for deliveries and material flows, bringing together contractors, suppliers, tenants and operators across complex projects and assets.
The US now accounts for more than 30% of its revenue and is growing at more than 150% year on year. The company supports more than 60 customers across 30-plus US states and expects the US to exceed 50% of total revenue within 12 to 24 months.
Lumonus: $3 million
Lumonus, which produces care management and consultation software for oncologists, has confirmed a $3 million extension to its $25 million Series B round.
Investible and Brandon Capital provided the top-up, joining Aviron Investment Management and Oncology Ventures, which contributed the first block of Series B funding in November.
Investible’s Nicholas Ooi said Lumonus and its AI-enabled tools are streamlining treatment planning, saving oncologists time while helping them provide a better patient experience.
“Many providers are seeking workflow solutions that can better connect the consult, documentation and planning process in a seamless way,” Ooi said, in the firm’s latest investment note.
“With increasing patient volumes and ongoing staffing constraints, the need for efficient, intelligent infrastructure to support care teams has never been greater.”
Ooi said the $3 million contribution, which brings the Series B total to $28 million, will help Lumonus and CEO Keith Hansen double down on its US expansion plans.
“We couldn’t be more excited to be backing Keith and the rest of the leadership team as they look to transform oncology care globally using AI!” said Ooi.
Future Minds Network: $650,000
Edtech social enterprise Future Minds Network has secured $650,000 in new funding to further scale its entrepreneurship program for students in low-income and regional communities.
Founded in 2018 by CEO Nathaniel Diong, Future Minds Network aims to open up entrepreneurship pathways for students who don’t complete Year 12 by giving them an opportunity to launch their own businesses and gain formal academic credit from partnering universities.
This involves a six-week, industry-backed program of interactive workshops delivered both in-person and online, covering design thinking, prototyping, and problem-solving.
The new funding will help the social enterprise build a new online platform, deepen industry partnerships and expand its reach.
To date, Future Minds Network has supported 13,000 youth nationwide and works with young people aged 15–18 from low-income and regional communities across Australia, prioritising schools with an ICSEA score below 1000, which is a national indicator of socio-educational disadvantage.
