BetterLabs

Royal Automobile Club of WA (RAC) has invested into SpacetoCo through BetterLabs Ventures, the third startup to be supported through the early stage venture fund.

BetterLabs Ventures, RAC’s early stage seed fund, has become WA’s largest venture capital fund with the announcement last night it had expanded to $23 million.

Roborigger has successfully raised $5 million from Blackbird Ventures, an example of a Perth-based company seeking venture capital from out of state.

Leaders from Perth’s investment community are urging startups to remain resilient during the COVID-19 pandemic, noting that ventures considered to be responding to the crisis will continue to receive funding.

Private investment in local tech startups is falling, representing just 0.3 per cent of total investment in all WA businesses.

RAC’s BetterLabs Ventures has closed four new deals, including an investment into a previous Business News 40under40 winner’s startup, The Volte.

Perth entrepreneurs and their teams are getting ready for this year’s Plus Eight Accelerator.

Six local startups have been selected to receive investment through Spacecubed’s Plus Eight accelerator program, a total of $400,000 in funding.

WA’s investment environment is yet to truly embrace tech startups.

RAC expects to start investing in other states as it looks to add more businesses to its already diverse portfolio.

Complete Home Filtration was one of six local winners at this year’s Telstra Best of Business awards, just 15 months after being a winner at Business News’ RISE awards.

Western Australia’s largest venture capital fund has invested more than $2.5 million over the past six months in eight companies, including Perth startups Snackr, IDEA academy and The Volte.

Perth gaming billionaire Laurence Escalante and US venture capital fund Dream Ventures have contributed to a $7 million capital raising by fast-growing local startup WeMoney.

Ten years after opening its doors, Spacecubed has increased capacity to support WA innovators.

A fintech and a sports science hopeful are among six startups to receive a combined $500,000 in the latest Plus Eight Accelerator program.

Local venture capital is what fledgling entrepreneurs need.

Three new local funds proposing to focus on early-stage investment are raising expectations.