Funded Startups in South Australia
Across the 24 most recent entries for South Australia, the largest disclosed round is Waste Connections’ $500M post-IPO debt on 2022-03-02, which dwarfs th…
Across the 24 most recent entries for South Australia, the largest disclosed round is Waste Connections’ $500M post-IPO debt on 2022-03-02, which dwarfs the next-largest disclosed amounts such as LMS ENERGY’s $175M (2023-09-20) and Fleet Space Technologies’ $100M (2024-12-11). On timing, funding is concentrated in a tight recent window: 6 of the 24 rounds/financings (2025-05-11 through 2024-02-26) fall in 2024–2025, with multiple same-$3M closings (Andromeda Metals $3M on 2025-05-11; Splose $3M on 2025-02-17; Kasu $3M on 2024-01-10; BioCina $3M on 2023-04-27).
Geographically, Adelaide is the dominant base across the dataset (including Adelaide-area listings like Unley, Thebarton, Bruce, Norwood, and Waterloo), while the few non-Adelaide municipalities are limited to specific entries such as Unley (Andromeda Metals, LMS ENERGY) and Woodlands (Waste Connections). Stage classification is also skewed toward non-specific disclosures: 8 of 24 entries are marked “Series Unknown,” and 3 of 24 are “undisclosed,” spanning sectors from AI (Complexica, 2021-12-14 $11M as “Undisclosed”) to energy (Glaciem Cooling Technologies, 2022-07-28) and financial services (Myriota, 2024-12-19 $31M).
Most recent rounds
24 shownRelated listings
Frequently asked
What outlier rounds stand out in South Australia’s most recent funding list, and how extreme are they versus the rest?
The key outlier is Waste Connections’ $500M post-IPO debt (2022-03-02), far above the next-largest disclosed amounts: LMS ENERGY at $175M (2023-09-20) and Fleet Space Technologies at $100M (2024-12-11). Most other disclosed rounds cluster at much smaller figures, including multiple $3M rounds (Andromeda Metals 2025-05-11; Splose 2025-02-17; Kasu 2024-01-10; BioCina 2023-04-27).
Are there clear city or location clusters across the 24 entries?
Adelaide-area locations dominate: the majority of listings are based in Adelaide (e.g., Myriota 2024-12-19 $31M; Fivecast 2023-04-11 $20M) or in nearby Adelaide municipalities like Unley (Andromeda Metals, 2025-05-11 $3M; LMS ENERGY, 2023-09-20 $175M) and Norwood (Beem, 2025-02-26 undisclosed). The most distinct non-Adelaide municipality in the list is Woodlands via Waste Connections (2022-03-02 $500M).
Which entries fall in the most recent ~12 months of this page’s time window?
The newest dated entry is Andromeda Metals on 2025-05-11 (Series Unknown, $3M). Within roughly the most recent year shown, there are at least three additional 2025 closings: Beem (2025-02-26, Pre-Seed, undisclosed), Splose (2025-02-17, Series Unknown, $3M), and Metakosmos (2024-08-19, Pre-Seed, $1M), alongside other 2024 rounds such as Fleet Space Technologies (2024-12-11, Series D, $100M).
Does the stage mix skew toward non-specific classifications like “Series Unknown” or “undisclosed”?
Yes: 8 of 24 entries are labeled “Series Unknown” (e.g., Andromeda Metals 2025-05-11 $3M; Splose 2025-02-17 $3M; Paladin Space 2024-10-14 $70K), and 3 of 24 are “undisclosed” (e.g., Beem 2025-02-26; EBottli 2024-06-18; Migrova 2023-09-01). This category appears across sectors including AI (Complexica has “Undisclosed” with $11M on 2021-12-14) and energy (Glaciem Cooling Technologies on 2022-07-28).
Are there sector concentrations that would be worth targeting for outbound or diligence?
Artificial Intelligence (AI) appears repeatedly: Metakosmos (2024-08-19, Pre-Seed, $1M), Fivecast (2023-04-11, Series A, $20M), Complexica (2021-12-14, Undisclosed, $11M), and Castlepoint Systems (2021-06-09, AI sector listed, $2M). Biotechnology also clusters at multiple entry points (Ferronova 2023-01-22 $6M; BioCina 2023-04-27 $3M; BiomeBank 2022-12-08 $7M).
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