Incubator Pollenizer has said it has raised $1.1 million from investors in Australia, Singapore and the USA, further extending its potential to develop exciting technology startups and to expand in South East Asia.
Brook Adcock, founder of Pandora Australia, Neil Miller, a veteran technology investor and early investor in Seek, and Greg Roebuck, CEO of Carsales.com.au, are among the new investors in the five-year-old nursery for Australian startups.
“This latest round of capital shows Australian investors are beginning to realise what global investors have known for some time, that Australian technology startups offer high investment value,” said Pollenizer CEO Phil Morle.
Pollenizer said it would use the investment capital to launch further technology startups, fund the growth of existing portfolio of companies and to support expansion in South East Asia.
“The Pollenizer team are veterans with world-class experience in startups. The Australian startup technology industry is going from strength to strength and Pollenizer is leading the way,” said Roebuck.
Pollenizer, established in 2008 by Morle, helps young startups rapidly transform ideas into businesses. It has invested over $12 million in at least 25 startups and made one exit worth $40 million. Its portfolio of companies includes mogeneration, Posse, 99dresses, which is now a Y-Combinator company, and Spreets, which was acquired by Yahoo.
Pollenizer has a partnership with Mi9, a 15-year-old joint venture between Microsoft and Nine Entertainment Co., to develop digital media startups.