Latest in Australia saw Brisbane-based healthcare technology startup DoseMe close a AU$2.6 million ($1.96) Series A funding round and One10 launch two new social enterprise accelerator programs while Britain’s Mimecast set its Asia Pacific headquarters in Melbourne.
DoseMe raises $1.9m Series A
Brisbane-based DoseMe has closed a $2.6 million ($1.96 million) Series A round as it looks to quickly expand abroad. The funding round brings the company’s value at AU$20 million ($15 million).
The funding was led by Results Physiotherapy cofounders Greg Spurgin and Gary Cunningham. They will be joining Shark Tank judge Steve Baxter on the DoseMe board. Baxter had already led a AU$500 thousand ($415k) seed round for the startup back in 2014. The newly acquired funds will be used to commercialise the dosage software in Australia and to facilitate expansion into the US and Europe.
DoseMe aim to provide a precision dosing tool that uses an algorithm to recreate the “virtual avatar” of a patient’s metabolism, in order to help doctors more quickly and accurately calculate the most effective dosages for their patients.
To achieve a high level of precision, DoseMe relies on a virtual model it builds of each person using a multitude of data points from published population models. This enables the patient model to be built instantly and help practitioners more accurately calculate the best outcome for the patient.
Reportedly, examples of patients in Australia have benefitted of DoseMe include the increase of childhood leukaemia survival by 10 per cent or halving of chemotherapy side effects, among others.
One10 launches social enterprise accelerator programs
Melbourne-based One10 has announced the launch of “Activate” and “Amplify”, two new social enterprise startup accelerator programs. The accelerator aims to develop activity of positive impact startup-creation across Australia.
Both programmes are scheduled to be launched around September, with “Activate” running in both Melbourne and Sydney, while “Amplify” will first be limited to Melbourne before a possible expansion in 2017.
The Activate program will look to develop early stage ideas into actual projects for purpose-oriented entrepreneurs and startups. The program was developed in partnership with InCommon, with services provided to startups with the potential to create meaningful change in both social and environmental areas for approximately A$5000 ($3780)
The Amplify program, in contrast, was established with a goal to help startups that are further developed in building investment capabilities and raise seed capital. This program will cost approximately AU$25 thousand ($19k).
One10’s founder Geoff Gourley said the accelerator is on a mission to enable one thousand Australian businesses and startups to grow within the social enterprise sector.
Mimecast sets up APAC HQ in Melbourne
London-based technology security major Mimecast has established its Asia Pacific (APAC) headquarters in Melbourne. This development comes as the Victorian government continues efforts to establish the city as a global hub for cybersecurity.
NASDAQ-listed Mimecast specialises in email and data security and has experienced strong growth in its Australian operations, having seen its Australian team grown from seven staff to 40 since setting up an office in Melbourne in 2013.
The venture is listed on the NASDAQ with a market capitalisation of $911 million. Victorian minister for innovation Philip Dalidakis, attended the launch of the new HQ, welcoming its addition to Melbourne’s technology market ecosystem.
According to Dalidakis, the government has made cybersecurity a priority, given the threats posed to Australian enterprises from malware, ransomware, viruses and other online threats. He added that the state government would be pursuing an agenda of strengthening the info-tech and security capabilities.
Mimecast Global CEO Ed Jennings commented: “Australia’s prioritisation of cyber security has been a government and business focus over the last three years and has been a catalyst for Mimecast’s continued growth and investment in the region. Our Melbourne office also acts as the APAC headquarters for customer service and offers global support services around the clock.”