This week, four Australian startups collectively raised $141 million, with significant investments in the renewable energy sector and advancements in telehealth services.
RayGen Resources led the funding with a $127 million Series D round to expand its innovative solar energy collection and storage technologies. Gridsight secured $7.5 million to enhance its AI-driven platform for managing renewable energy integration into electricity grids. Relectrify attracted $5 million to advance its technology that repurposes used electric vehicle batteries for energy storage. Additionally, Hola Health raised $1.5 million to improve telehealth services across Australia.
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Context & Background
Australia’s renewable energy sector has been experiencing significant growth, driven by technological innovations and increased investment. Startups like RayGen Resources and Gridsight are at the forefront, developing solutions to enhance energy efficiency and integration. The telehealth industry has also seen rapid expansion, especially in the wake of the COVID-19 pandemic, with companies like Hola Health working to improve access to healthcare services across the country.
In This Story
RayGen Resources
An Australian company specializing in solar energy collection and storage technologies.
Gridsight
A startup offering an AI-powered platform to manage and distribute renewable energy within electricity grids.
Relectrify
A company focused on repurposing used electric vehicle batteries for energy storage solutions.
Hola Health
A telehealth startup aiming to improve access to healthcare services across Australia.
