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The Venture Codex

Queensland Business Development Fund

1 William Street, Brisbane, Queensland, 4000, Australia

Overview

Queensland Treasury is a prominent economic thought leader and the main organization for state finances and the economy. Enhance the standard of living for every Queenslander through employment creation, economic growth, and service improvements.

Total investments
2
Lead investments
1
Investments · 12mo
0
Active investors
0
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Investment portfolio

  • SwarmFarm Robotics

    Participated · Equity · Oct 2020

    SwarmFarm Robotics develops compact, self-driving “SwarmBots” that work together in fleets to handle on-farm tasks such as spraying and crop management. These robots are paired with SwarmConnect, an open “app store for agriculture” that lets third-party developers and farmers add crop- or task-specific software modules. By replacing million-dollar tractors and combines with simpler, lower-cost machines operated from a smartphone-like interface, the company aims to cut input costs, improve repairability, and reduce environmental impact. Farmer adoption of SwarmBots now exceeds that of traditional tractor-autonomy solutions in Australia, and some SwarmConnect partners report sales gains of more than $20 million in a single year. With fresh capital, SwarmFarm plans to expand manufacturing capacity in Toowoomba, grow its team, and launch into North America. Founded in 2012 by Queensland farmers Andrew and Jocie Bate, the startup previously raised a $12 million Series A in 2023, a $4.5 million round in 2020, and secured an $856,000 grant from the Northern Australia Development Program in 2022. The new funding strengthens its balance sheet as farmers worldwide seek more efficient, cost-effective machinery heading into 2026.

  • Nexgen Plants

    Led · Grant · Aug 2018

    Nexgen Plants commercialises two platform technologies developed from University of Queensland research: INTtrait for rapid introduction of pathogen-resistance, production and consumer traits, and a virus-resistance approach to rapidly confer resistance in crops. INTtrait is being positioned as having advantages over existing gene-editing techniques such as CRISPR, and the company says its virus-resistance technology is uniquely rapid. Nexgen recently received non-GM notification from the USDA for a salt-tolerant rice variety and is engaging with plant biotech companies and breeders in the US, Europe and Asia. The company has completed projects with Syngenta and a major global food and beverage company and is pursuing further multinational partnerships. Management has appointed Dr Philippe Herve as CEO to ramp up international business development, with Herve based in France and splitting time between Europe/US and Australia. Nexgen was formed in 2013 by UniQuest and is implementing programs to demonstrate its technologies across a broad range of crop types while awaiting the Australian OGTR review of new breeding techniques. Nexgen Plants is trialling a newly discovered genetic pathway that enables plants to defend against common viruses, a discovery originating from scientists at the University of Queensland. The technology is based on identifying a new class of small plant virus molecules that regulate a plant's defence response and could enable selective breeding from germplasm collections and the introduction of virus-resistance traits. Initial trials will be conducted in tomato crops and the company says the technology could be available to plant breeders within 12 months. Nexgen is at proof-of-concept stage and plans both genetically modified and non-GM investigations, noting GM outcomes may be more suited to North and South America while Australian work will focus on non-GM approaches. The science is most relevant to fruit and vegetable crops but may also reduce virus impacts in wheat, canola and other broadacre crops. The article reports strong interest from plant-breeding companies globally.

Team

No current team members are available.