Flowstate Secures $600,000 in Debt Funding to Expand Surfing Video Tech
Australian tech startup Flowstate has secured $600,000 in debt funding from investment firm Tractor Ventures, accelerating its mission to revolutionize how surfers capture and share their best waves.
The company, which has been likened to the “Strava of surfing,” leverages AI-powered video capture technology to automatically record and deliver footage of surfers in action. With this new funding, Flowstate plans to expand its operations into new markets both in Australia and internationally, targeting high-traffic surf destinations and growing its customer base among amateur and professional surfers alike.
Co-founder and CEO Dan Soderstrom said the funding would allow Flowstate to increase the number of locations equipped with its autonomous cameras, enhance its AI capabilities, and continue improving user experience through its mobile app.
“Surfers want to relive their best sessions and track their progress without needing a film crew or even someone on the beach,” Soderstrom said. “Our system handles everything — capturing, editing, and delivering the footage — all powered by AI.”
Flowstate’s technology has already gained traction at surf parks and popular beaches, where its fixed-position cameras use computer vision to identify and follow individual surfers. The platform integrates with GPS data to tag sessions, much like cycling or running apps do for their athletes.
Tractor Ventures CEO Matt Allen praised the startup’s traction and market potential. “Flowstate is not just building smart tech; it’s unlocking a whole new way for surfers to engage with the sport and their communities,” he said.
The latest funding round positions Flowstate to ride a growing wave of demand for automated sports performance tracking and content creation tools, tapping into the booming creator economy within the action sports world.
Bailador Delivers 7.8% Return as ASX-Listed VC Enjoys Strong 12 Months
ASX-listed venture capital firm Bailador Technology Investments (ASX: BTI) has posted a 7.8% return over the past 12 months, marking a solid year of performance amid continued interest in high-growth technology companies.
In its latest annual update, Bailador highlighted steady portfolio growth and successful capital management as key drivers of the return. The result, while not at the explosive levels of some VC peers in earlier tech booms, demonstrates the firm’s disciplined investment approach in a volatile market.
“Delivering a 7.8% return in a year where tech valuations remained under pressure shows the resilience and quality of our portfolio,” said David Kirk, Co-Founder and Managing Partner at Bailador. “We remain focused on identifying scalable, high-performing businesses across the digital sector.”
Bailador’s portfolio includes stakes in a range of fast-growing tech companies such as InstantScripts, Mosh, and Access Telehealth, with several assets progressing towards liquidity events or valuation uplifts. The firm also noted improved performance from existing holdings and prudent follow-on investment decisions.
Investors welcomed the update, with BTI shares showing modest gains on the ASX following the announcement. The return outpaced some broader venture capital benchmarks, especially given ongoing caution around late-stage tech valuations and exits.
The company also pointed to a strong balance sheet and a pipeline of new investment opportunities, suggesting further growth ahead. Bailador said it would continue to focus on digital businesses with proven revenue models and strong customer growth, particularly in healthtech, SaaS, and online marketplaces.
For shareholders, the 7.8% return underlines Bailador’s steady hand in navigating a maturing tech landscape — and its role as a reliable VC option in the public markets.
Startup 360: New Fishburners Vision, Pet Startups Rise, and Leading Remote Teams
In this week’s Startup 360, we dive into the latest trends shaping the Australian startup ecosystem — from a bold new direction for iconic co-working hub Fishburners, to the growing wave of pet-focused startups, and tips for staying motivated while leading remote teams.
Fishburners Reimagines Its Future
Australia’s original startup space, Fishburners, has announced a strategic shift aimed at reinvigorating its role in the tech community. CEO Nicole O’Brien revealed a fresh plan focused on deep founder support, enhanced programming, and hybrid flexibility.
“Fishburners helped launch some of Australia’s biggest startups,” O’Brien said. “Now we’re evolving to meet the needs of today’s founders — whether they’re working from the office, home, or halfway around the world.”
The new direction includes more structured founder education, investor matchmaking, and a stronger national presence across Sydney, Brisbane, and beyond.
Pets Are Big Business
The pet tech boom continues, with startups like PawTrack, Fetchly, and MyVetMate capitalising on Australians’ love for their furry friends. From smart collars to on-demand vet services, investors are circling as the sector shows strong growth and customer loyalty.
Pet-focused startups are also resonating with millennial and Gen Z consumers, who are spending more on pet wellness and lifestyle products.
Remote Teams, Real Leadership
Leading a startup from afar isn’t easy, but founders are finding new ways to build culture and keep momentum. Experts recommend over-communicating, celebrating small wins, and using async tools to keep everyone aligned.
“Motivation can dip when you’re not together physically,” said leadership coach Lena Tran. “But strong rituals, clear vision, and trust go a long way.”
Startup 360 will be back next week with more founder insights and innovation updates from across the ecosystem.
Canva and Atlassian Alumni Sell Startup to US AI Ad Platform Creatify
Australian-founded startup Gala Labs, launched by alumni from Canva and Atlassian, has been acquired by fast-growing US-based AI advertising platform Creatify in a strategic deal aimed at scaling AI-driven video content globally.
Gala Labs, known for its tools that streamline branded content creation, caught the attention of Creatify for its innovative approach to short-form video production — an area experiencing explosive demand as brands race to produce engaging social media content at scale.
Creatify, which enables businesses to generate ads using more than 700 AI avatars, said the acquisition would supercharge its platform with new creative capabilities and product features developed by Gala Labs.
“We’re incredibly excited to welcome the Gala Labs team,” said Alex Brant, CEO of Creatify. “Their experience building intuitive, scalable creative tools is second to none — and perfectly complements our vision for AI-powered advertising.”
Gala Labs was co-founded by former product and engineering leads from Canva and Atlassian, who brought deep expertise in user experience, SaaS design, and creative automation. The company quietly gained traction with early customers in e-commerce and DTC sectors looking to simplify video content workflows.
While the acquisition amount remains undisclosed, sources close to the deal say the exit was a “strong outcome” for the founding team and early investors, many of whom hailed from Australia’s tight-knit tech community.
The move underscores growing global demand for AI-led content creation, with startups like Creatify racing to lead the future of automated advertising. For Gala Labs, the deal offers access to a broader market and more resources to scale their product.
“Joining Creatify allows us to bring our vision to life faster and on a much bigger stage,” said Gala Labs co-founder Emily Zhang. “We’re just getting started.”
Five Aussie Startups Raise $85 Million Across Clean Energy, AI, Agtech and More
It’s been a strong week for the Australian startup ecosystem, with five local startups collectively raising $85 millionacross sectors including clean energy, AI, advertising tech, mining innovation, and agtech.
Leading the funding charge was HelioGenics, a Sydney-based clean energy startup, which secured $30 million in a Series B round to scale its solar thermal storage technology. The round was led by global climate fund PlanetEdge Capital, with participation from local backers including Blackbird Ventures.
In the AI space, NeuronForge, a Melbourne startup developing edge AI chips for robotics and industrial systems, closed a $20 million Series A round. Investors cited its potential to power next-generation automation with low-latency machine learning capabilities.
Adtech innovator AdSculpt, based in Brisbane, raised $15 million to expand its AI-driven dynamic video ad platform into the US and Southeast Asia. The company uses generative tools to customise brand messaging for individual viewers, boosting campaign engagement and ROI.
Meanwhile, OreSight Technologies, a Perth-based startup building real-time mineral scanning systems for the mining sector, brought in $12 million to expand deployment across key Australian and Canadian mine sites. The startup is helping miners reduce waste and improve resource efficiency using AI and hyperspectral imaging.
Rounding out the list is agtech startup Cropwise AI, which raised $8 million to further develop its predictive analytics platform for farmers. The Canberra-based company is using satellite data and machine learning to help growers make data-informed decisions on irrigation, planting, and disease management.
The $85 million raised this week highlights investor confidence in Australia’s deep tech and climate solutions, with strong interest in scalable, IP-rich startups solving global problems.
