Australia: Mentorloop closes seed round; Investible launches new angel program

Melbourne startup Mentorloop has closed a seed funding round that sees a post-money valuation of AU$2 million ($1.52 million) while Investible has launched its First Angel program to train angel investors in Australia.

Mentorloop gets seed

Melbourne-based Mentorloop has announced the closing  of a AU$300,000 ($228,000) seed investment from a variety of private investors. These include StartupAUS director Glenn Smith and Melbourne Angels, amongst others.

Mentorloop aims to connect mentors with mentees via an online platform. It allows mentoring administrators to invite, match and manage their program participants.

The built-in algorithm also accounts for a user’s industry, skill sets and objectives for an more precise user experience, with the funding used for further product development and additional back-end tech support.

After having failed to attract funding via VC firms, cofounders Lucy Lloyd and Heidi Holmes have proved their platform to be market-fit by acquiring their first customers, which have reportedly given positive feedback on the product. This gave stronger grounds in their search for funding.

Additional features have been added to the website, such as a communication channel which mentors and mentees can use for event management, file sharing and tasks management.

Investible launches new angel program

Australia’s Investible has launched its new First Angel investor training program. Investible is a business generator combining their range of business building programs with expertise of early-stage VC investors.

According to a 2012 report from The Conversation, in Australia, there is a need for better education of entrepreneurs to increase the number of “investment ready” opportunities. Rather than a funding deficit inhibiting entrepreneurial ventures, it is a lack of viable business models.

The First Angel program will aim to connect investors with founders in Investible’s startup bootcamps and is aimed at retaining and growing early-stage startup development in Australia, driving up visibility and accessibility of Australia-based startup ventures to local angel investors.

First Angel will incur a cost of AU$25,000 ($19,000), with 50 per cent going to Investible. The latter amount will be re-invested into four startups across the year.

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Australia launches state-backed $15m cleantech fund to reach renewable energy target

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.