The latest in the deals landscape in Australia has seen Sports Performance Tracking (SPT) secure $AU1.5 million ($1.15 million), while ClassCover has received AU$600 thousand ($458,000) in seed funding. Additionally, Dimension Data and Deakin University have partnered to launch a cybersecurity incubator.
SPT gets $1.15 million
Melbourne-based Sports Performance Tracking has received over $1.15 million in an angel funding round led by existing investor Brady Scanlon. This follows a previous AU$900 thousand ($626 thousand) angel round led by Gandel Invest founder Tony Gandel in September 2015.
SPT offers GPS technology to amateur athletes in local sporting clubs. Their first product, GamaTraka, gives juniors, amateur and professional athletes the ability to review fitness levels, in-game work review individual performance data such as fitness levels, in-game work rates and training levels through GPS technology.
The technology is now sold in 40 countries, as 60 per cent of the Australian company’s revenue is made overseas. CEO William Strange says the funding will be used for further international expansion.
Reportedly, a number of larger clubs have also become users of SPT’s technology. These include including English Premier League club Sunderland and a number of Championship teams
ClassCover lands $458 thousand
The Follow [the] Seed fund is offering second-stage funding for Australian companies, and uses an algorithm called RavingFans to select the best investments. Startups can log onto the VC fund’s website, download their algorithm and send it back within a few weeks where Follow[the]Seed will be able to decide whether funding is possible or not based on the algorithm’s collected data.
The fund will be targeting innovative online consumer startups. The RavingFans algorithm will work to identify which products can become daily habits for users.
ClassCover is an automated platform for schools to book substitute teachers. After launching in 2012, the startup now operates in Australia and New Zealand and has over 35,000 teachers using the app along with 15 per cent of addressable schools in Australia.
Dimension Data-Deakin Univerty cybersecurity incubator to launch with govt grant
Technology major Dimension Data is partnering Deakin University to launch a cyber security incubator based in Geelong, facilitated by an AU$450,000 Victorian government grant that will see students, startups and industry work together to address the rising threat of cyber crime.
According to Dimension Data Australia services director Duncan Brown, this incubator will be focusing on building and leveraging local capabilities to tackle the problem. It is reported that Australian small business have lost up to $1.6 million in the past six months due to cybersecurity threats.
Incubator participants can tap Dimension Data’s network of cybersecurity professionals, market entry expertise and startup projects, in addition to the Deakin University’s facilities and research. This is part of an effort to drive more locally-developed cybersecurity tools, programs and methodologies.
With information security an increasingly crucial concern for both large enterprises and SMEs, the incubator will leverage on existing partnerships to generate marble-viable outcomes and enable startups to get strong mentoring in order to proceed past the ‘startup valley of death’.