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Listen "Square Peg's global shift, Linktree's 2023 leak & SA rocket launches"
Episode Synopsis
SummaryIn this week's episode of The Startup Retro, host Will Richards and guest host Cheryl Mack from Aussie Angels and The First Cheque podcast break down the latest in Australia's startup and venture capital ecosystem. They cover Square Peg's ambitious new funds, the 2023 financial results of Linktree, and a groundbreaking partnership that will see hypersonic rocket launches from South Australian spaceports in 2025. The duo also discuss SafetyCulture's latest $75M raise, Algenie’s mission to replace plastics with algae, and interview Emma Grife from Startmate about their latest cohort. The episode wraps up with a useful resource for B2B startups navigating their sales funnels.Time Stamps00:00 Introduction and Welcome05:00 Square Peg’s New Funds09:00 Linktree’s 2023 Financials12:30 Hypersonic rocket launches in South Australia15:00 SafetyCulture’s Latest Raise18:30 Algenie’s plastic replacements using Algae25:00 Interview with Emma Grife from Startmate30:00 Knowledge as a Service (KaaS) RecommendationsLinksTo get all the links to the stories we mentioned in this episode, you can read this week’s https://newsletter.overnightsuccess.vc/p/aussie-startup-vc-summary-14th-septemberHeadlinesSquare Peg’s New FundsSquare Peg is raising $840M for its sixth fund, focusing on seed and Series A investments, with a minority stake strategy. They are also raising $210M for their Opportunities Fund 3, highlighting strong returns from Canva and challenges in recent vintages.Linktree’s 2023 FinancialsLinktree revealed a $61.6M loss for 2023, spending $2 for every $1 earned. Despite generating $42.8M in revenue, the startup cut its workforce by nearly half. The founders took $21M off the table in secondary sales.South Australian Hypersonic Rocket LaunchesHypersonix Launch Systems will partner with Southern Launch to enable Mach 7 hypersonic rocket launches from South Australian spaceports by 2025, dependent on environmental assessments.Startup RaisesSafetyCultureRaised $75M in fresh capital with an additional $90M in secondaries at a $2.5B valuation. SafetyCulture plans to enhance its workplace solutions with AI-powered tools and IoT functionalities.AlgenieSecured $1.1M in pre-seed funding to scale algae production as a sustainable alternative to fossil...
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