Unveiling the 2025 LaunchVic Awards and the Ventures Receiving Their Support
Victoria's Frontier Technology Startups Shine Bright
Victoria, Australia, is becoming a hub for frontier technology startups, with over 400 companies specialising in deep tech such as healthcare, advanced manufacturing, cleantech, and agtech, according to LaunchVic, the state's startup agency.
One of the standout companies in this sector is Nomad Atomics, founded by three ANU Quantum Physicists. The company is building the next generation of exploration tools using quantum superposition. Last year, Nomad Atomics received a $3 million federal grant to accelerate its work on diagnosing and treating pancreatic cancer. In 2023, the company raised a $10 million pre-Series A round, with Blackbird Ventures leading the investment.
Nomad Atomics' shoebox-sized quantum sensors are designed to reduce reliance on GPS systems and help map critical minerals necessary for the green transition. The technology is initially targeted at supporting safe underground mining operations. Additionally, Nomad Atomics' quantum sensors will be used in Germany to map and monitor underground aquifer systems and in carbon sequestration efforts.
Kyle Hardman, CEO of Nomad Atomics, explained that the company's innovation is based on the idea of taking an atom and putting it in two places at the same time.
Another promising startup is Nanocube, founded by Lisa Milani and Shawn Goussous in 2021. Nanocube is developing a device that uses AI to diagnose disease and structures faster, with initial focus on pancreatic cancer. The company won the SXSW Sydney startup pitch challenge in 2023.
GonGlobal, a fertility startup, is also making waves in Victoria. The company is developing a non-invasive, connected drug delivery platform for fertility treatments. Ellen Gonda, the CEO and co-founder of GonGlobal, spoke at a recent event.
In the agtech sector, YieldX, founded by Nadun Hennayaka in 2020, has developed a cultivation system that grows twice the amount of food at the same area, reducing capital cost and labor. YieldX closed a $1.7 million round of seed funding, led by Breakthrough Victoria and La Trobe University's Eagle Fund.
The Victorian government is actively supporting this innovation, with a $1.6 billion energy package that includes investments in renewable energy zones, low-interest loans for SMEs developing new technologies, and funds dedicated to new energy jobs and venture growth. This facilitates startups focusing on sustainable and frontier technologies.
LaunchVic, the state's startup agency, has identified more than 400 frontier tech startups in Victoria, and is investing in university entrepreneurship programs and various venture capital (VC) funds targeting early-stage startups from seed to Series A funding. The VC funds focus on areas such as AI-native technologies, fintech, women-led startups, and healthcare deep tech.
In addition to Nomad Atomics, Nanocube, and YieldX, examples of successful frontier tech startups and investors in Victoria include Insite AI, Seitec, Auric Essentials, and Melbourne Angels, a key early-stage investor group focused on biotechnology, IT, and manufacturing startups.
In summary, Victoria's frontier technology startup landscape is supported by a strong innovation ecosystem, substantial government funding, and active VC/investor involvement, helping to scale a diverse portfolio of frontier tech enterprises specializing in AI, biotech, cleantech, and security technologies.
- The Victorian startup ecosystem, with a focus on frontier technologies like AI, biotech, and cleantech, has attracted investments from venture capital (VC) funds, such as Blackbird Ventures, who led a $10 million pre-Series A round for the quantum technology startup Nomad Atomics.
- In the realm of finance and investing, there's a growing interest in supporting startups that leverage technology for positive change, with funds dedicated to new energy jobs, venture growth, and innovative sectors like fintech and women-led startups.
