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Access to the largest data set on Australian startup funding. See what trends are shaping the Australian startup landscape in 2024.
Brought to you by Cut Through Venture and Folklore Ventures, the State of Australian Startup Funding Report offers the largest data set in examining the local funding landscape. With contributions from 1,000s of individuals and companies, the 2023 report was released in February 2024.
Total reported deals
413
down 21% on 2022
Total funding
$3.5
billion
down 54% on 2022
Most funded sectors
Enterprise / Business Software
$505M
Fintech
$331M
Hardware / Robotics / IoT
$301M
Most funded states
NSW
61% of funding
VIC
16% of funding
QLD
10% of funding
Investors most excited about
Artificial Intelligence
Enterprise / Business Software
ClimateTech / Clean Tech
Biggest deals
Funding to mixed-gendered founders
18%
up from 10% in 2022
Funding to female-only founders
4%
up from 2% in 2022
Deals involving mixed-gendered founders
26%
up from 21% in 2022
Deals involving female-only founders
12%
up from 9% in 2022
Investors reporting a failed portfolio company
42%
up from 34% in 2022
Investors who believe activity to increase in 2024
67%
up from 59% in 2023
Founders who plan to raise in 2024 or 2025
92%
up from 54% in 2022
Founders who are confident they’ll raise next round
83%
up from 76% in 2022
