Australia: Spacebook & Veromo secure funding; Aussie medtech funding

Sydney-based SpaceConnect has secured A$400,000 ($307,000), three New South Wales-based Medtech startups including Elastegen, Nano-X and Respiratory Innovations have collectively raised A$8 million ($6.1 million) while Veromo has got nearly A$1 million ($767,000) in funding.

Sydney startup SpaceConnect secures $307k

SpaceConnect, a Sydney-based tech startup, has raised A$400,000 ($306,828) from Westpac-backed BlueChilli Disrupt@Scale accelerator program. SpaceConnect team aims to reduce the amount of time people spent on looking for working and meeting place, according to StartupSmart.

“There’s a massive perception that there’s a lack of space in offices for meetings and working room. There’s a difficulty in making the most of spaces available and there’s no way of visualising what space there is.” SpaceConnect founder Matt Pope says.

Pope and his team built a proprietary algorithm to track the use of workspaces and help users locating the exact meeting room. SpaceConnect was launched July 2015 and secured a paying customer the subsequent month.

Three medtech startups raise funding from govt

Elastegen has been granted A$4 million ($3.1 million) to develop products that treat scars. Its products treat atrophic scars, specifically burns and stretchmarks.

This is achieved by applying trapoelastin, which promotes cell growth and tissue repair. The funding will be used to grow the company and commercialise the products.

Similarly, Nano-X has received A$2.58 million ($1.98 million) to develop a more affordable cancer radiotherapy system that directs the radiation beam “the right amount of energy to the right issue”, as mentioned in an article by StartupSmart.

The startup will use the funding to test on animal and subsequently, acquire an Organisation of Standardisation (ISO) certification.

Respiratory Innovations has got A$1.3 million ($1 million) to develop Breathe Well. Breathe Well helps reducing the impact of radiation by guiding the patient who undergoes breast cancer therapy the proper breathing pattern.

“If you can guide [patients] on how to breathe so you create the greatest distance between the heart and tumour at time of radiation you can actually spare damage of the heart.” says Ben Wright, chair of the company.

The funding will go toward obtaining the Australian Therapeutic Goods Administration certification and commercialising domestic sales.

Veromo receives $717k from investors

A Sydney-based startup for startups has raised A$935,000 ($717,000) from a number of investors, including James Henderson, Thomas Fussel and Mark Dalgleish.

Veromo, with its NameFinder and OnceForm products, aims to to streamline the registration process for new businesses. NameFinder and OnceForm help entrepreneurs to find and register names while further products are in development to offer users a more full-packaged service, as reported by StartupSmart.

Veromo currently offers the price tags for registration of A$249 ($191) for a sole proprietor, A$299 ($229) for a partnership, and A$799 ($613) for a company.

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