This week, four Australian startups raised a total of $31 million in fresh funding. The startups, MP Space, Metacognition, Copy Geek, and Forward Deployed, operate in various fields, including spacecraft power systems, AI robotics, copy trading, and chemical threat detection.
MP Space Raises $23 Million
A Sydney-based company called MP Space has secured $23 million in early-stage funding to produce space-based power solutions locally. The financing effort was spearheaded by Blackbird, with contributions from Systemiq Capital, Speedinvest, and MFV Partners, while Seraphim Space—based in London—made its first Australian investment through this deal.
Founded in early 2024 by ex-Tesla engineers Jay Manley and Sam Paterson, MP Space is designing a combined hardware and software solution for energy generation, storage, and management in orbit. The new capital will expand production capabilities, diversify its power offerings, and bolster its team of engineers across Australia.
Notably, Manley, the CEO, said its tech has been selected for space services and missions involving more than 500 spacecraft, demonstrating the company’s potential for significant impact in the space industry. This selection is a sign of the company’s innovative approach to spacecraft power systems and its ability to meet the demands of a growing number of space missions.
Metacognition Receives $5 Million Investment
Adelaide’s AI-driven robotics firm Metacognition has received $5 million from Airtree, just weeks after it completed a $10 million pre-launch funding round. The company was established this year by professors Anton van den Hengel and Stephen Gould, along with Dr. Paul Dalby.
The extra funding pushed Metacognition’s pre-launch total to $15 million, coinciding with warnings from Airtree co-founder Craig Blair that Australia could miss out on AI’s economic gains if it only adopts foreign-developed tech. He stressed the need to support local innovators creating essential components in the field.
Copy Geek and Forward Deployed Raise Funds
A Sydney startup developing professional-grade software for cryptocurrency trading platforms, Copy Geek, has raised a $2 million pre-Seed funding round. The company has developed a copy trading engine that operates on several trading platforms, including Bitfinex, WhiteBIT, Bybit, and Hyperliquid.
Melbourne’s Forward Deployed, a startup focused on national security, has raised $1 million from Innovation Victoria and Swinburne University to advance its system for detecting chemical hazards. The company partners with the university to refine autonomous detection and data analysis using its DINGO technology.
The DINGO system integrates high-precision chemical detection with rugged field equipment and instant data processing, delivering lab-quality accuracy while converting raw sensor data into actionable insights within seconds. Forward Deployed already has active contracts serving clients in Australia, the U.S., and the U.K.
Established in 2023 by CEO Richard Hebden, CTO Alex Barry (both Swinburne graduates who first connected during their studies), and growth leader Liam Eldon, the startup secured $500,000 each from Innovation Victoria and Swinburne via the University Innovation Platform. This backing highlights their dedication to supporting regional innovation.