Healthcare firm 1st Available has made its fourth startup acquisition after a $6.35 million capital raise while Perth-based 3D metal printing startup Aurora Labs is going public after raising $2.8 million.
1st Available acquires OzDocsOnline for $115k
1st Available is an online appointment booking platform that sorts nearest available consultations by time for users to compare. OzDocsOnline is also an online platform that enables users to find and book appointments, amongst other functionalities. OzDocsOnline will contribute its user base to 1st Available.
OzDocsOnline has 130,000 registered patients and over 800 doctors. The ASX-listed startup aims to become Australia’s top platform for health services. 1st Available’s strategy of acquiring smaller startups with similar business models has been conducted to meet that goal. This recent series of acquisitions follows a recent AUD$6.35 million ($4.9 million) capital raise led by investor Anthony Tony Gandel, son of billionaire John Gandel.
Aurora Labs goes public amidst ASX regulations fear
3D metal printing startup Aurora Labs has gone public after successfully raising AUD$2.8m ($2.1 million) through an IPO. After failing to secure private funding, the early-stage startup has resorted to raise its capital by listing on the ASX.
The startup issued 14 million shares at 20 cents each to raise the liquidity. Aurora Labs opened its first day of trading at 54 cents and closed on Wednesday at 70 cents.
The newly acquired funds will be used to develop Aurora Labs’ small format 3D printer and bring it to market. Also, the firm will further the development of the medium and large models.
This comes as the ASX is close to implementing new thresholds that would block many early-stage startups from listing.
As the company is yet to generate revenue according to the prospectus it issued in June, the two year old firm may find its IPO to be blocked if the proposed rule changes occur.