Startups are driving innovation across Australia and New Zealand, and the latest funding announcements showcase the diverse and ambitious tech ecosystem powering the region.
Here are the top funding highlights of the week:
Surgeons back $2M capital raise in AI medtech firm Medow Health AI
Australian AI medtech company Medow Health AI has secured $2 million in fresh capital as it partners with health technology group Magentus. Medow Health AI’s ‘co-pilot’ system automates medical reporting for specialist doctors, reducing paperwork and streamlining workflows. The company’s technology is now integrated into Magentus systems Genis and Gentu, widely used across Australian medical practices. The AI-powered platform records specialist consultations, generates formal reports, and aims to cut wait times for surgery.
Spoony secures $1M as demand for accessible social platforms grows
Social app Spoony has raised $1 million in a pre-seed round led by Antler, NDIS provider Melba Support, and Trampoline as it expands globally. Designed for neurodivergent, chronically ill, and disabled users, Spoony is the first social platform built with accessibility at its core. Since its September 2024 launch, the app has drawn 22,000 beta users, with reports of a 25% reduction in loneliness, and a waitlist of 42,000. Founded in 2024 by Nicholas Carlton (CEO) and Kenneth Liang (CTO), Spoony is targeting a historically underserved audience, offering a stigma-free space for social connection.
LaunchVic offers $300K grants to lure VCs to Victoria
Victorian startup agency LaunchVic is offering grants of up to $300,000 to venture capital funds and angel groups willing to establish a presence in the state. The initiative is open to newly launched funds or those expanding into Victoria, including interstate VCs setting up local offices.
To qualify, VC funds must be targeting a $10 million raise, while angel groups must unlock at least $2 million in private capital. The grants won’t be direct investments in funds but will instead cover setup costs, including legal fees, company registration, staffing, and capital raising support.
MyGigsters lands $1.1M Seed round to support gig workers’ financial security
Fintech startup MyGigsters has raised a $1.1 million Seed round to help gig economy workers manage their income and expenses with real-time financial insights.
The platform, which launched in 2022, leverages earnings and spending data to provide personalised financial advice. Backed by investors including Antler, LaunchVic, Startmate, and angel investors, the latest funding round was secured via a SAFE note, with both new and existing investors participating.
Icehouse Ventures closes NZ$122M fund to back Kiwi scaleups
New Zealand’s most active venture capital firm, Icehouse Ventures, has closed its second growth fund at NZ$122 million (A$111 million) to support later-stage tech scaleups. Growth Fund II, closed at the end of 2024, will invest in up to 20 companies, with several deals already completed.
It follows the fully deployed NZ$110 million Growth Fund I, which backed 32 startups, including Hnry, Tracksuit, Halter, and Crimson Education. Icehouse Ventures now manages NZ$454 million across multiple funds, cementing its role as a key player in New Zealand’s startup ecosystem.
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Investors are backing Australian startups with fresh funding for AI, social tech, fintech, and VC expansion. Weekly Funding Roundup, Funding Dynamic Business
