Participated · Series A · Jan 2022

Founded in 2015, Finland-based SpinDrive provides frictionless, oil-free active magnetic bearing (AMB) systems that levitate rotors to eliminate mechanical contact. The technology delivers energy-efficiency improvements of up to 50 % versus conventional bearings and can reduce maintenance costs by more than 80 %, offering maintenance-free operation for over 20 years. SpinDrive’s products serve compressors, pumps, turbines, blowers and other high-speed machinery used in industrial cooling, heat pumps, wastewater treatment and semiconductor manufacturing. The company integrates IoT-based condition monitoring directly into its bearings, removing the need for external sensors. SpinDrive is gaining traction with both European OEM partners and direct customers in the United States. Its forthcoming Magma X100 controller extends AMB capabilities to ultra-high-speed machinery under 100 kW, targeting new markets with a smaller, more affordable form factor. The new funding will accelerate U.S. market expansion and support the commercial launch of Magma X100.

Participated · Series A · Aug 2021

Sicona develops silicon-carbon (SiCx) anode materials designed to increase lithium-ion battery energy density by more than 20% and enable charging speeds over 40% faster than conventional graphite, while remaining compatible with existing battery production lines. The company is targeting markets including electric vehicles, AI data centres, power tools, defense, robotics, and other high-performance battery applications. Sicona plans to validate its process at a Wollongong facility that will produce up to 230 tonnes per year for customer qualification and commercial sales, and has longer-term plans for a 6,500-tonne-per-year commercial plant with expansion potential to 26,500 tonnes per year. The ARENA grant will fund construction and operation of the initial commercial-scale facility and support workforce development and local industry partnerships. Sicona entered a May 2025 licensing and strategic partnership with Himadri that included an AU$17.5 million follow-on investment, demonstrating recent capital and commercial progress.