Led · Grant · Aug 2026

Millibeam designs semiconductor chips, antennas and RF architectures for counter‑uncrewed aerial systems, and has developed Rakurai, a prototype portable anti‑drone jammer that can transmit across multiple, widely separated frequency bands simultaneously. Rakurai is currently at Technology Readiness Level 5 following initial demonstrations and the company is preparing for field testing. Millibeam’s approach emphasizes custom, ground‑up design of chips and antennas to overcome weight, power and frequency limitations of off‑the‑shelf systems. The startup secured $4.6 million in federal grants to develop the next‑generation semiconductor chipsets and related technology supporting Rakurai. Main Sequence has publicly endorsed the company’s integrated technical approach, signaling investor interest alongside government support. Millibeam positions its work as building sovereign RF capability for Australian defence and critical‑infrastructure protection.

Led · Grant · Jul 2026

Kite Magnetics develops Aeroperm, a patented nanocrystalline soft magnetic material designed to replace conventional electrical steel in electric motor stator cores to reduce losses and heat generation. The company has progressed from laboratory research to pilot production since being spun out of Monash University in 2021. Kite Magnetics reports it is supplying samples and paid prototypes to more than 20 global organisations, including OEMs and Tier 1 and 2 suppliers. Current plans include expanding its pilot manufacturing line, completing customer qualification programs and moving Aeroperm from TRL 4 to TRL 6. Financially, the company has secured a $2 million government grant toward a $4.1 million commercialisation project and is preparing a planned $22 million Series A to scale manufacturing toward volume production. Kite Magnetics is backed by SQM Lithium Ventures, Investible and Innovation Victoria.

Led · Series C · Apr 2026

Liquid Instruments develops software-defined test and measurement instrumentation that combines high-performance hardware with intelligent software to enable reconfigurable, customizable measurement solutions. Its platform consolidates multiple traditional instruments into a single system that users can configure and deploy, shortening development timelines from months to minutes according to the company. The company serves thousands of users worldwide, including top technology companies, research institutes, quantum startups, and defense primes. Liquid Instruments announced a $50 million Series C to accelerate product development, scale its AI-powered platform, and expand sales in aerospace, defense, and semiconductor markets. As part of the Series C, Keysight Technologies will also enter a commercial arrangement with Liquid Instruments to jointly advance AI-driven instrumentation. The announcement did not disclose a valuation or detailed prior funding history.

Led · Grant · Apr 2026

Founded in 2021, Uluu develops plastic alternatives made by extracting sugars from seaweed, feeding them to PHA-producing microbes, and processing the resulting polyhydroxyalkanoates into pellets using a process the company likens to brewing beer. The startup is commercialising materials for use in cosmetics packaging, fashion accessories and textiles, and has run product collaborations with brands including Good Citizens (seaweed glasses), Quiksilver (wax scraper) and Papinelle (biodegradable buttons for pajamas). Uluu currently produces about 100 kg of material per year and aims to scale to one tonne per year with the new grant and to a 10-tonne-per-year demonstration plant by 2027. Financially, the company recently closed a $16 million Series A and has received grants including $1.5 million from the WA Government and the new $2.1 million from the federal Industry Growth Program. The funding will support regulatory certification, commercial trials, increased production capacity, and team expansion from 25 toward 30–35 staff.

Participated · Series A · Sep 2025

Harvest B produces textured plant-based proteins and a blended meat range called B Strong that combine animal and plant proteins to increase protein per serving for institutional catering, aged care and foodservice wholesalers. Its product lineup imitates meats from diced chicken to pulled pork and beef mince, and is built on a patented multi-protein low‑moisture extrusion (LME) system for processing Australian plants. The company supplies business-to-business food settings across Australia and New Zealand and has partnerships with leading foodservice wholesalers. Harvest B plans to deepen collaboration with Victorian pulse producers and research institutions and to utilise Victoria’s faba bean processing industry to create an allergen‑free, sustainable protein range. The business emphasizes local supply chains, sustainable manufacturing and increasing food sovereignty while seeking to scale its advanced food processing capabilities. The recent financing is intended to accelerate manufacturing scale-up and expand market reach in institutional and manufacturing channels. Harvest B, founded in 2020, is developing what it describes as the world’s first meat ingredients system purpose-built for plant-based foods. The company combines food science and advanced manufacturing technologies to create naturally derived, sustainably produced plant-based meat ingredients that aim to deliver superior taste and health benefits. Harvest B’s product is intended to enable food manufacturers and brands to reduce the capital, expertise, and time required to make competitive plant-based meat products. The team hopes its specialised supply-chain approach will help bridge the quality gap with animal-based meat and accelerate industry scaling. Founders mentioned in the article are Kristi Riordan, Alfred Lo and Werner Fuggersberger. The company’s stated mission is to accelerate the world’s transition to a sustainable food system by addressing mid-stream ingredient and supply-chain challenges.