Qld startups seek $30m from investors worth over $1 billion at RiverPitch Series A 2017
1 August 2017: Nine startups have been selected to pitch their business to venture capital firms and investors with a $1 billion-plus combined investment power at RiverPitch Series A 2017.
The startups hope to raise around $30 million in total funding with individual amounts in the Series A range (exceeding $1 million).
The VCs and investors at the event are amongst the who’s who of Australia’s investment community, and have backed some of the biggest startups in the country including Airtasker, and Sendle.
They include NAB Ventures, Telstra Ventures, Cisco Ventures, Altor Capital, Redwood North, Uniseed, Mawson Ventures, Rampersand, MAI Capital (China-focused), Full Circle VC, Black Sheep Capital, QUT CEA, Clean Energy Finance Corporation, Blue Sky Alternative Investments and Steve Baxter’s Transition Level Investments.
RiverPitch is one of the biggest startup pitching events in Australia and the Asia Pacific, and startups have to go through a rigorous process to be selected to pitch.
The nine startups selected for RiverPitch 2017 are:
Audeara - creator of headphones that suit your hearing profile
Travello - social network app for travellers
Desygner - free graphic design software
SiteSee - provides cell tower analysis service for telcos
Liquid Instruments - developed an all-in-one test and measurement device for scientists and engineers
Carton Cloud - integrated transport & warehouse management app
JESI - mobile workforce management provider
MOVUS - 'internet of things' solution provider
Ozius Spatial - provides remote sensing analytics and solutions for environmental applications
McCullough Robertson Partner Reece Walker, who along with his team has been supporting startups for many years, including a large number of River City Labs alumni on key issues such as intellectual property, commercial contracts, IT, privacy laws, structuring and capital raising, said the firm was delighted to continue its partnership with RiverPitch.
“The startup sector has become such a large contributor to new jobs and to innovation in Australia during the past few years.
“It’s going from strength to strength but in many respects legislation and regulation are struggling to keep up so it’s our job to make sure that the industry can navigate these challenges to ensure that ideas are protected and businesses are set on the fast-track to success, avoiding any legal hurdles.
“We have been attending RiverPitch for many years as a sponsor and as an interested member of Brisbane’s startup community. We are excited to see what’s coming up this year - the ideas get better and better, and are more commercially focused each year. We are looking forward to spotting the next success story,” Mr Walker said.
Morgans said it was delighted to sponsor RiverPitch Series A, a first of its kind.
“Over many years Morgans has supported River City Labs and their events as we firmly believe our local ecosystem has and will continue to prosper for many years on the back of the events organised by Steve Baxter, Peta Ellis and their team.
“We look forward to hearing the pitches from these established startups and assisting them any way we can. Morgans continues to be heavily integrated within the local startup community via the Morgans podcasts (run by Morgans adviser Chris Titley), now having over 40,000 listens since inception,” the company said.
Shark Tank star Steve Baxter started RiverPitch in 2013 to bring together startups seeking funding and investors.
“We all know how tough it is to even score an introduction to a 5-minute meeting with a potential investor,” River City Labs CEO, Peta Ellis, said.
“This is why events like RiverPitch are so valuable. In addition, investors and VCs will see first-hand that the startups pitching are all investment-ready companies with working products and solutions, and not pie-in-the sky ideas,” Ms Ellis said.
One success story is Mark Fletcher, CEO of Cohort Solutions, which managed to raise funding through connections made at RiverPitch and has formed networks and contacts that has helped his business grow over the years.
“Cohort participated in the very first RiverPitch event in 2013 where we were offered the opportunity to build investor networks and broader connections,” Mr Fletcher said.
“Making those investor connections was a great outcome. While we did not gain investment on the night, we went on to obtain seed funding through the connections we made at RiverPitch several months later.
“Further to the investors, we have also kept in close contact with a fellow pitch finalist and often share notes on progress and pitfalls.
“The networks and connections we formed through RiverPitch have proven to be invaluable to the success of Cohort over time,” Mr Fletcher said.
RiverPitch Series A 2017 is an invite-only event at The Triffid from 2pm on Aug 2.
About River City Labs
River City Labs fosters the growth of startup companies solving big problems. We provide resources to empower, support and connect entrepreneurs. Central to everything we do is a focus on collaboration and connection.
Since 2012 over 460 entrepreneurs have called RCL home. Through our events program we have welcomed more than 16,000 guests into our community by hosting over 500 events aimed at supporting founders on their entrepreneurship journey.
River City Labs powers a range of programs, events and engagement opportunities, enabling our Corporate partners to innovate differently and embed their teams within the startup community.
River City Labs is a human-led organisation ensuring founders come first always and every engagement is underpinned by our core values of Give Learn Grow, Take Action and Always Challenge.