{"id":39093,"date":"2023-10-20T15:00:44","date_gmt":"2023-10-20T15:00:44","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/the-funding-round-online-grocer-world-changing-startup-and-wallet-replacing-watch-bank-6-3-million-startupsmart\/"},"modified":"2023-10-20T15:00:44","modified_gmt":"2023-10-20T15:00:44","slug":"the-funding-round-online-grocer-world-changing-startup-and-wallet-replacing-watch-bank-6-3-million-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/the-funding-round-online-grocer-world-changing-startup-and-wallet-replacing-watch-bank-6-3-million-startupsmart\/","title":{"rendered":"The Funding Round: Online grocer, world-changing startup and wallet-replacing watch bank $6.3 million – StartupSmart"},"content":{"rendered":"
\n
\"Andrew
GO1 co-founder Andrew Barnes <\/figcaption><\/figure>\n<\/div>\n

Since our last funding round, investors from the private sector and government have kept their eyes peeled as Australia’s most innovative and creative minds bring new products and ideas to life.<\/p>\n

Read more: The Funding Round: More than $10 million up for grabs as spotlight on impact-driven founders intensifies<\/strong><\/a><\/p>\n

\n

About 40 startup teams and innovative projects received more than $10 million in funding during this time.<\/p>\n

The federal government awarded 24 innovative STEM projects around the country $3.4 million to transform the sector<\/a>, BlueChilli’s new SheStarts accelerator gifted its\u00a0first 10 startups\u00a0$100,000 each<\/a> to start, and the University of South Australia injected a trio of student-led startups with more than $130,000.<\/p>\n

In addition to this, an online store supporting local businesses, one of the world’s most disruptive startups and a watch to replace your wallet scored more than $6 million in new investment.<\/p>\n

DISRUPTIVE MARKETPLACE BANKS $4 MILLION<\/h3>\n

What they do:<\/strong> GO1 is an online marketplace for workplace training and it was named one of the world’s most disruptive companies by Disrupt 100 this year.<\/p>\n

Led by:<\/strong> Co-founder Andrew Barnes.<\/p>\n

How much:<\/strong> $1 million in pre-series A funding from the Queensland government\u2019s Business Development Fund. The remaining $3 million comes from new backers Black Sheep Capital, Full Circle Venture Capital, Blue Sky Ventures<\/a>, Amasia and former Wotif.com chief financial officer Sam Friend, as well as existing investors Tank Stream Ventures, Y Combinator <\/a>and Shark Tank<\/em>\u2019s Steve Baxter<\/a>.<\/p>\n

What now:<\/strong> The funding will be used to set up GO1 offices in the US and Europe, drive sales in select countries and develop products.<\/p>\n

Read more: Three tips for building a global startup from one of the world’s most disruptive companies<\/strong><\/a><\/p>\n

The startup is planning to increase its global sales team to about 30 people over the next year.<\/p>\n

\u201cWe are excited that leading US and Australian investors, alongside the state government, share a belief in GO1 and the market opportunity,\u201d Barnes\u00a0says.<\/p>\n

\u201cThe future of education and workplace training is rapidly changing, and GO1 is well positioned to lead globally in this space.”<\/p>\n

Baxter says backing GO1 again was a \u201cno brainer\u201d.<\/p>\n

\u201cGO1 is the perfect example of a startup who absolutely gets it and is poised to grow rapidly all over the world into a leading provider of learning and management platforms,\u201d he says.<\/p>\n

ONLINE GROCER BANKS $1.3 MILLION<\/h3>\n

What they do:<\/strong><\/span> YourGrocer is a three-year-old online shopping platform that enables users to support local businesses like greengrocers, bakers and delicatessens.<\/p>\n

Led by:<\/strong><\/span> Founders Morgan Ranieri and Francisco Trindade.<\/p>\n

How much:<\/strong><\/span> $1.3 million led by Tank Stream Ventures. Impact-driven Giant Leap<\/a>, Envato founders Cyan and Collis Ta\u2019eed<\/a>, DealsDirect co-founder Mike Rosenbaum<\/a> and Menulog investor Michael Doubinski also participated.<\/p>\n

What now:<\/strong><\/span> Since 2013, YourGrocer has processed over 80,000 orders for more than 150 local businesses across Melbourne and Sydney.<\/p>\n

With strong support from high-profile startup leaders and even Prime Minister Malcolm Turnbull, YourGrocer is striding ahead on its mission to give small businesses around Australia a fair go.<\/p>\n

\u201cOnline retail platforms are often seen, I think with some justification, as being a big challenge to small businesses,\u201d Turnbull said in Sydney<\/a> this month.<\/p>\n

\u201cWhat Morgan and Francisco have done is they have a platform which empowers small businesses.\u201d<\/p>\n

Doubinski says YourGrocer allows Australian shoppers to really back their local community.<\/p>\n

\u201cThey want the freedom to support local business owners, and boycott conglomerates Woolworths and Coles,\u201d says Doubinski.<\/p>\n

The ultimate vision for Ranieri and Trindade is to become Australia\u2019s leading pure-play online grocery store.<\/p>\n

\u201cI believe we have the right model for it,\u201d Ranieri\u00a0says.<\/p>\n

\u201cWith Amazon launching in Australia 2017, we\u2019re going to see a shake-up of the industry. We have the best fresh produce offering, making us well positioned to sustain our growth.\u201d<\/p>\n

PAY-AND-GO WATCH BANKS $1 million<\/h3>\n

What they do:<\/strong><\/span> Inamo, one of Stone & Chalk\u2019s founding startups<\/a>, has launched a wearable tech device that lets people swap their wallets for a watch. The Curl lets users tap-and-go for purchases at stores with Visa PayWave.<\/p>\n

Led by:<\/strong><\/span> Founder Peter Colbert.<\/p>\n

How much:<\/strong><\/span> $1 million led by Tempus Partners and Investible.<\/p>\n

What now:<\/strong><\/span> During the next 18 months, Inamo plans to expand Curl\u2019s functionality to include public transport, building access, festival tickets and gym memberships.<\/p>\n

Colbert says he came up with the idea for Curl after going for a coffee after surfing only to realise he had no money to pay.<\/p>\n

Curl has now attracted a range of private investors including new ambassador and ironman champion Guy Leech.<\/p>\n

\u201cWe are building a platform with true utility,\u201d says Colbert.<\/p>\n

\u201cThe possibilities for how people can use the Curl are virtually unlimited and we see a great opportunity to lead the way in moving people\u2019s wallets to a wearable.\u201d<\/p>\n

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

GO1 co-founder Andrew Barnes Since our last funding round, investors from the private sector and government have kept their eyes<\/p>\n","protected":false},"author":2,"featured_media":61431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3,4,6,1,26],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39093"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=39093"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39093\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61431"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=39093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=39093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=39093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}