TLDR:
- Australian start-ups raised $1.5 billion in the second quarter of 2024, making it the sector’s strongest quarter in 18 months.
- Six local start-ups closed deals worth more than $100 million, raising a combined $935 million.
Australian start-ups have seen a resurgence in mega venture capital deals, with $1.5 billion raised across 99 deals in the three months leading up to June 30. This marks the sector’s strongest quarter in 18 months, thanks to the return of mega VC deals. However, the sector remains two-speed, with some new founders struggling to meet investors’ high expectations. Despite a slow start to the year, six local start-ups closed deals worth more than $100 million in the second quarter, raising a combined $935 million, according to data from Cut Through Venture.
While the overall funding landscape for start-ups seems to be thriving, new founders are facing challenges in securing investments. This disparity highlights the need for support and guidance for emerging start-ups to navigate the competitive funding environment and attract investors. Moving forward, it will be crucial for aspiring founders to build strong networks, showcase their unique value proposition, and demonstrate their market potential to stand out in a crowded market.
