Participated · Seed · Aug 2026

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 · Grant · Jul 2025

MAKO develops Flightfilm, a shark-skin-inspired surface technology intended to reduce skin-friction drag on aircraft and thereby lower fuel burn and emissions. The company was previously known as MicroTau and is based in Australia. Its immediate plans following the Series A are to pursue certification, scale production and roll out Flightfilm commercially for in-service aircraft. MAKO raised AU$28 million (about US$20 million) in the Series A led by Virescent Ventures to fund those efforts. The article did not disclose revenue, user numbers, or other operating metrics. No further details on product deployment timelines or prior funding were provided.

Participated · Series A · Feb 2024

Diraq is an Australian quantum computing company commercializing silicon spin qubits (quantum dots) manufactured on 300 mm CMOS wafers, allowing dense co-integration of quantum and classical control electronics on a single chip. Its qubits run at roughly 1 K—warmer than superconducting approaches—simplifying cryogenic requirements and enabling a server-rack-compatible form factor for hybrid quantum-classical workloads. The firm’s roadmap calls for delivering an initial quantum computer by 2029 and reaching utility-scale performance by 2033, ultimately supporting millions of qubits at a projected cost of under one dollar per qubit. In late 2025, it demonstrated >99 % two-qubit gate fidelity on randomly selected industrial devices and advanced to Stage B of DARPA’s Quantum Benchmarking Initiative. Scaling efforts are reinforced through partnerships with imec, GlobalFoundries, Nvidia, and Dell. The business has grown to more than 70 staff and PhD students across research, development, and commercialization functions in Sydney, Melbourne, Palo Alto, Boston, and Chicago. Revenue figures were not disclosed, but the company has attracted backing from Main Sequence Ventures, Quantonation, and Australian superannuation funds including Hostplus and UniSuper.

Participated · Seed · Aug 2021

LM Plus commercialises a novel liquid-metal process that captures and converts CO2 into saleable carbon flakes and oxygen. The technology, developed at UNSW and RMIT, aims to offer energy-efficient carbon capture at a competitive cost. The company was established in 2021 as a UNSW spinout to commercialise research by Professor Kourosh Kalantar-zadeh, Dr Dorna Esrafilzadeh and Dr Torben Daeneke. Research and development will be conducted at UNSW under a research contract, with plans to move to external facilities as the company progresses toward production. In August 2021 LM Plus closed a $600,000 Seed financing round to fund process optimisation and proof of concept. The team positions the technology as a potential cornerstone for industrial CO2 mitigation and to produce marketable end products.