{"id":38497,"date":"2023-10-20T14:56:56","date_gmt":"2023-10-20T14:56:56","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/49-2-million-banked-in-this-weeks-round-up-of-exciting-deals-startupsmart\/"},"modified":"2023-10-20T14:56:56","modified_gmt":"2023-10-20T14:56:56","slug":"49-2-million-banked-in-this-weeks-round-up-of-exciting-deals-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/49-2-million-banked-in-this-weeks-round-up-of-exciting-deals-startupsmart\/","title":{"rendered":"$49.2 million banked in this week’s round-up of exciting deals – StartupSmart"},"content":{"rendered":"
\"Google<\/div>\n

Over the past week, innovative minds in the health sector\u00a0were spotted by powerful investors keen to see their ideas in the hands of people who need it most.<\/p>\n

From fighting HIV to empowering people with alcohol addiction, life saving ways to use technology star in this week\u2019s round-up of exciting deals.<\/p>\n

Australia\u2019s largest venture capital firm also gets a special mention for investing in its biggest cross-border deal yet.<\/p>\n

These\u00a0are the startups that scored, the investors that splurged, and how the money will be spent.<\/p>\n

ATOMO DIAGNOSTICS BANKS $3.6 MILLION<\/h3>\n

What they do:\u00a0<\/strong>Atomo is a Sydney-based biotech startup with offices in South Africa and the UK. It develops tech-driven diagnostic tools that make tests for HIV, malaria and Ebola<\/a> more accurate and affordable. Earlier this year, Atomo closed a $4.5 million round led by Global Health Investment Fund, which is co-owned by the Gates Foundation. Bill and Melinda Gates are on a mission to wipe out malaria <\/a>in their lifetimes.<\/p>\n

Founded by:<\/strong>\u00a0John Kelly<\/p>\n

How much:\u00a0<\/strong>Secured a $3.6 million grant from the Bill and Melinda Gates Foundation.<\/p>\n

What happens now:\u00a0<\/strong>Atomo Diagnostics will use the funding to develop a next-generation HIV self-test for millions of people in low and middle-income countries.<\/p>\n

Kelly says there is global consensus on the power of HIV self-testing to reach at-risk individuals who are not attending clinics or existing facilities to get tested.<\/p>\n

\u201cWe have sought always to develop simple, low-cost solutions that remove errors common with the current generation of \u2018bits in a box\u2019 test kits,\u201d Kelly says.<\/p>\n

\u201cThis grant is an endorsement of our innovative user-friendly approach to testing and our commitment to making a positive impact on global health.\u201d<\/p>\n

TEXTCARE BANKS $750,000<\/h3>\n

What they do:\u00a0<\/strong>TEXTCARE is an SMS-based service to help people with chronic disease live healthier lifestyles. It\u2019s being developed by the George Institute for Global Health<\/a>, a non-profit organisation.<\/p>\n

Project led by:<\/strong>\u00a0Dr Clara Chow<\/p>\n

How much:\u00a0<\/strong>$750,000 grant from Google Impact Challenge<\/p>\n

What happens now:\u00a0<\/strong>Chow says she never imagined she\u2019d win the Google Impact Challenge and is looking forward to using the funds to roll out the service to 100,000 patients with chronic disease over the next 24 months.<\/p>\n

\u201cIt\u2019s a highly personalised support service to help patients change their lifestyles and hopefully take their treatment,\u201d Chow told\u00a0StartupSmart<\/em><\/p>\n

DAY BREAK APP BANKS $750,000<\/h3>\n

What they do:\u00a0<\/strong>Day Break is a smart app to actively help people manage and recover from alcohol addiction. It combines data from the experiences of 100,000 people with alcohol dependency <\/a>collected by non-profit Hello Sunday Morning over nearly seven years.<\/p>\n

Project led by:<\/strong>\u00a0Hello Sunday Morning general manager Jamie Moore.<\/p>\n

How much:\u00a0<\/strong>$750,000 grant from Google Impact Challenge.<\/p>\n

What happens now:\u00a0<\/strong>Moore says the funding will be used to advance development of the app so users are prompted with the right information at the right time to keep them on track.<\/p>\n

\u201cThe money from Google is specifically for machine learning and reinforcing the social networking part,\u201d\u00a0Moore told\u00a0StartupSmart.\u00a0<\/em><\/p>\n

AIRTREE VENTURES INVESTS \u201cEIGHT FIGURE SUM\u201d IN $44.1 MILLION CROSS-BORDER DEAL<\/h3>\n

What they do:\u00a0<\/strong>AirTree Ventures is one of Australia\u2019s leading VC firms. It aims to back world-class entrepreneurs in the Australia-New Zealand region and has set up the nation\u2019s biggest tech VC fund with $250 million<\/a>.<\/p>\n

Founded by:<\/strong>\u00a0Craig Blair and Daniel Petre.<\/p>\n

How much:\u00a0<\/strong>Contributed an\u00a0\u201ceight figure sum\u201d to multinational Paxata\u2019s $44.1 million\u00a0funding round.<\/p>\n

What happens now:\u00a0<\/strong>Blair says the deal will not only put them in the boardroom of a world-leading tech company but it will also increase the profile of Australian VCs in the global arena.<\/p>\n

Blair told StartupSmart <\/em>there will be more of these cross-border deals to come.<\/p>\n

\u201cIt helps the whole ecosystem,\u201d he says.<\/p>\n

\u201cThis is part of the globalisation of venture.\u201d<\/p>\n

Follow StartupSmart on<\/em>\u00a0Facebook<\/a>,<\/em>\u00a0Twitter<\/a>,\u00a0LinkedIn<\/a>\u00a0and iTunes<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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