The Venture Codex

Participated · Seed · Aug 2022

Seitec develops a software-defined seismic sensing platform that runs two software packages—UXOTrackS for detecting, localising and classifying unexploded ordnance impacts across weapons ranges, and Nightingale for passive seismic perimeter security, force protection, and counter-UAS classification. The company serves allied military operators and has achieved Australian Defence Force service entry for UXOTrackS. It holds paid trial contracts with the Air Warfare System Program Office and the Australian Office of National Intelligence and is advancing through the USAF Foreign Comparative Testing programme. Seitec is led by CEO Daniel Stevens and CTO Bevan Fairleigh and is headquartered in Canberra, Australia. The company plans to convert its trial pipeline into contracted revenue as it scales delivery and enters the US market.

Participated · Seed · Dec 2019

Aurtra provides power asset management solutions that use real-time monitoring to extend the life of energy transformers by ten years or longer. The company was formed in 2017 after licensing IoT and SaaS research from The University of Queensland; co-founders Terry Woodcroft, Stephan McRae, and Richard Harris have experience launching international products. Its first solution was installed with Energy Queensland four months after formation, and within two years the solution had been adopted by more than two thirds of Australian power distribution utilities. Aurtra positions its product as a response to a $1.7 trillion global problem stemming from a 30-year automatic transformer replacement cycle regardless of physical condition. The company will use the $2 million funding to leverage existing distribution in Australia, New Zealand, North America and Europe to drive new customer acquisition in the US, Asia, and Europe. Seed-stage investors including Sydney Angels and Uniseed are expected to support rapid global expansion and future capital raising.

Participated · Seed · Aug 2018

Matrak offers connected materials tracking software for global construction supply chains, streamlining and de-risking operations for manufacturers, suppliers, and builders. Its platform has been adopted by over 280 clients across 400 construction projects worldwide, including Queen’s Wharf and Melbourne’s 65-storey Aspire tower. Founded in 2018 by Shane and Brett Hodgkins and based in Melbourne, the company has expanded its presence into Southeast Asia, China, the UK, Canada, and the US. Matrak recently opened an office in Suzhou, China. The company will use the $2.9M Series A to support expansion and product development, with an emphasis on penetrating the Chinese market. Matrak is a construction technology startup. The company has banked $5.85 million in fresh funding. Investors named in the article are Leigh Jasper, co-founder of cloud software firm Aconex, and venture capital fund Rampersand. The fundraising was framed around a "huge opportunity" in construction tech. The article does not provide details on Matrak's core product, business model, future plans, revenue, users, or other operating metrics. Matrak builds a construction workflow management platform to give companies better visibility over projects, track deliveries of materials and improve communication between manufacturers, suppliers and installers. The product is positioned to streamline collaboration across different parties on construction sites. The company is led by co-founders and brothers Shane and Brett Hodgkins. Matrak recently completed a seed fundraise, signaling early investor interest in its offering. The round was significantly oversubscribed versus the founders' initial $450,000 target, providing additional runway for growth and product development.

Participated · Equity · Apr 2016

PERKii makes low‑calorie, non‑fermented water and juice drinks that contain 1 billion CFUs of Lactobacillus casei 431® per bottle, with each drink at 37 calories. Its ProGel® microgel encapsulation, developed from University of Queensland research, protects probiotics on shelf and through the acidic stomach environment to improve gut delivery. The PERKii range launched in mid‑2016 and is sold in over 2,000 stores across Australia and New Zealand, including Coles, Woolworths, Caltex, Zambreros and Countdown, and the company appointed Manassen Foods Australia as national distributor. The product line includes multiple natural fruit flavours and seasonal editions. PERKii plans to use recent funding to establish production in the US and pursue expansion into a combined ANZ, US and Asia market it values at US$21.8 billion. The company was initially supported by Uniseed, Brisbane Angels and UniQuest during early commercialisation. PERKii produces a low‑calorie (26 calories) water‑based beverage that delivers 1 billion live Lactobacillus casei 431 per bottle using the patented ProGel® microgel technology to protect probiotics in drinks and the acidic stomach. The ProGel® microgels were developed at the University of Queensland and are designed to improve probiotic stability and consumer health benefits. The company positions the drink to help consumers control weight, improve gut health and boost immunity. PERKii has attracted national attention and was invited to participate in Woolworths’ Wstart program; Woolworths will stock PERKii at Caltex Woolworths convenience sites nationally from April. The product is already with existing stockists and the company is focused on scaling sales and distribution. PERKii is led by CEO Randy Milne, who joined in September 2015 after ten years of beverage experience at Coca‑Cola Amatil.

Led · Equity · Feb 2015

Vayeron is a Sydney-based engineering company co-founded by hazardous materials handling engineer Ryan Norris and electronics engineer Paul Moutzouris. Its core product, Smart-Idler, is a low-cost wireless condition-monitoring unit installed inside conveyor rollers that transmits heat, vibration, and acoustic data to operators. The device is designed to ride the rails with material containers and enable informed maintenance decisions at mine sites, shipping ports and processing plants. Recent funding from Melbourne Angels and private investors tied to Ingenuity Electronics Design supports ongoing development and commercialization of Smart-Idler. Company leaders emphasize the value of investor guidance and technical involvement from Ingenuity in advancing the product. No revenue or user metrics are disclosed in the article.