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WED, 28 OCT - 10 NOV
👋Welcome to our 5th edition of Funding Roundups! We'll get straight into the good stuff this week...

1. This week, you will receive the fortnight's roundup on funding - written and compiled by Warwick from
2. Next week, you will receive the fortnight's roundup on accelerators by Euwyn.
📈 This Fortnight in Funding
By Warwick from
Events for Founders

📅 Who sets valuation and deal terms?
Founder, Rory San Miguel, Propeller Aero raised a series B round of $18m in June of this year. Rory has been through the process of setting the valuation and deal terms on a number of occasions. VC, Melissa Widner recently took over as CEO, Lighter Capital. She’s worked with many VC’s and helped to set the valuation and deal terms for investment. 
Date: Today! Wed 28 Oct, 8am (there should be a recording of the session after on Innovation Bay's YouTube channel)
Register for event here

📅 Cake Equity - Employee Share Plan Workshop
Cake’s CEO/Co-Founder Jason Atkins will show companies how to use Employee Share plans to attract the best talent, retain skilled staff, substitute options for salary, create a great company culture, get their team thinking and acting like founders, and take advantage of substantial tax benefits.
Date: Today! Wed 28 Oct, 12:30pm
Register for event here

📅 Sydney Startup Hub Office Hours
How it works:
1. Office hours mentors have regular meeting times available to be booked directly by founders
2. Requests to connect are reviewed by the community manager to manage the availability of the mentor
3. Use the filters to refine search results by skills, founder experience and more
Date: n/a
Book a session here

Reminder: Startmate's Office Hours is another great opportunity for founders to meet with a mentor 1:1 to discuss about anything - fundraising, startup advice, industry experiences, etc.
Date: Applications for Office Hours close this Sunday, 1 Nov.
Apply here

The Founders Course is a practical online course that shows you how to succeed as a founder. The course helps you to build and launch a startup in your own time under the guidance of Colin Kinner, one of Australia’s most experienced startup mentors and founder of Startup Onramp. Bonus $10k worth of perks from AWS, LawPath and others. 50% off for a limited time.
Learn more
News for Founders

🌍 Ecosystem
- Is Australia’s VC industry in need of a Glassdoor to speed up it's transformation?
- Scaleups now have access to new equity capital through the government’s $540 million Business Growth Fund.
- “Absurd”: Women-led businesses are being excluded from the government’s Boosting Female Founders Initiative.
- Here's how Australia can become an artificial intelligence powerhouse.

In Victoria, there is now a higher share of seed, growth and later-stage firms than ever before – with ‘growth’ firms now counting for 12% of firms compared to just 4% in 2017. Read the full Victorian Startup Ecosystem Mapping 2020 Report by LaunchVic.

💥 Impact
CEFC backs Australia’s next wave of cleantech startups through Startmate.

💰 Venture Capital
- Provectus Algae, an Australian startup developing algae-based products for the food and agriculture industries raised $3.25m.
- Plant-based meat startup v2food raised a $77m Series B round.
- Retail tech startup Tiliter raised $7.5m.
- Aussie online ordering platform HungryHungry has scored $2 million in Series A funding.
- Antler Sydney invests more than $2m in its latest cohort.
- SunDrive raises $5m to commercialise the most efficient industrial-sized solar cell in Australia.
- Linktree raises $15m Series A round and here is Airtree’s John Henderson’s writeup on Linktree.
- SafetyCulture raises $14m plus staff and investor secondary sales.

🏦 For the Industry
Rolling funds, how long will it take for rolling funds to make it to Australia? AngelList pioneers rolling VC funds in pivot to SaaS.

💰 M&A
Zip Co acquires fashion search engine The Urge for $8.5m.

In line with supporting Australian founders, Sailist is partnered with Australian-born and bred unicorn Airwallex to deliver AUD$20,000 worth of foreign exchange for free ($0 fees, 0% margin).
Sign up to activate your credits here
Resources for Founders
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