Australian startup ventures getFoodi and Linius have closed seed investments of $385,000 apiece from their investors.
getFoodi gets funding from ESZ Holdings
Sydney-based startup getFoodi has secured AU$500 thousand ($385,000) in funding from ESZ Holdings.
The getFoodi platform enables to connect boutique bakeries, caterers and hobby chefs to a large consumer-base. The platform focuses on desserts. Through the getFoodi platform, consumers can message chefs, make orders and pay for desserts. GetFoodi takes a 9.8 per cent cut from every sale made.
ESZ reportedly proposed to back the startup merely eight weeks into their test-launch – a bid accepted by founders Johnson Su and Adam Love, who were reportedly not yet planning on raising capital.
getFoodi is now valued at AU$2.5 million ($1.93 million) following the investment. It aims to raise a Series A investment in order to kickstart its expansion across North America and Europe. Su and Love, both University of Technology Sydney students have also been accepted into startup accelerator Hatchery+.
getFoodi is planned to reach Melbourne by the end of the year. With a quality over quantity-focused approach, only 15 of the 100 registrations of interest have been so far accepted. Reportedly, one supplier raised his revenues to $2500 per week in cake sales after a couple months of listing on getFoodi.
Linius gets funding from Robert Kirby
Melbourne tech startup Linius has closed a AU$500,000 ($385,000) seed investment led by Village Roadshow Pictures executive director Robert Kirby. The investment saw 10 million shares at $4 cents each sold to the Kirby Family Trust.
Previously known as Firestrike Resources Limited until April 2016, Linius focuses on the development and commercialisation of Linius’ technology products, which aims to enable personalised TV advertising from the Internet onto formats such operated by cable and internet TV operators.
The newly acquired funds will fund the commercialisation of the technology. The venture had previously gone public in May 2016 through a reverse takeover (RTO) transaction involving Firestrike Resources, raising AU$3.5 million ($2.7 million) in the process.