Healthcare startup Atomo Diagnostics has secured $3.5 million in a GHIF-led funding round while HR software provider Xref has issued 11.429 million shares to raise $6.14 million via private placement.
Atomo raises $3.5m in Global Health Investment Fund-led round
Medical device innovator Atomo Diagnostics has secured an AUD$4.5 million ($3.5m) in new equity funding in a round led by the Global Health Investment Fund (GHIF) – the joint venture (JV) between the Bill and Melinda Gates Foundation and JP Morgan – which now holds 8.4 per cent the Australian startup.
The round also saw participation from a company associated with former MD and CEO of Macquarie Group Limited, Allan Moss. This investment will see GHIF Managing Partner Dr. Curt LaBelle join the Atomo board.
The fund continues its partnership with the Australian firm as it had already extended a AUD$7.8m ($6 million) loan in January 2016 to the healthcare startup. Atomo Diagnostics commercialises a variety of diagnostic devices and services to healthcare providers and consumers globally.
Founded in 2010, CEO John Kelly claims that the startup venture began earning revenue in 2014 and has since grown by 3-5 times each year.
According to the company, proceeds from this investment will fund the expansion of Atomo’s manufacturing and business operations focused on HIV testing diagnostics in Africa.
Xref secures $6.14m in share placement after $13.81m backdoor listing
Automated candidate referencing application Xref Pty Ltd. has secured a A$8 million ($6.14 million) only six months after successfully undertaking an $18-million backdoor listing on the Australian Securities Exchange (ASX).
The Sydney-based startup was incepted to provide a more efficient way for employees to provide references. According to reports, the latest investment comes from an oversubscribed share placement and involves new and existing shareholders.
Xref has issued 11.429 million shares at A$0.70 each to raise the funds. The funding will be used to accelerate global sales growth and facilitate product integrations.
Xref is currently being used by a third of the top 50 companies listed on the ASX and has 400 clients across Australia, New Zealand, the UK, North America and Singapore.