Latest updates for ANZ sales professionals
PepsiCo's 2026 APAC Greenhouse Program selected five startups, including Sydney's Adiona and X-Centric. Worth noting: both have been working with PepsiCo since 2023 and 2024 respectively. The program is grant-based and non-dilutive, which matters if you are selling climate or supply chain tech and want an enterprise reference customer without giving up equity.
The federal Industry Growth Program stopped accepting new applications last week, freezing access to grants up to $5 million for startups commercialising products. The pause hits hardware, medtech, and advanced manufacturing companies that rely on non-dilutive capital while they are still building revenue.
The Industry Growth Program, which has issued 1,000 advisory reports and up to $5M grants since 2023, stopped accepting applications last week. Federal budget cuts removed $102M in uncommitted funding. The pause hits deep-tech and industrial startups hardest, especially those building into National Reconstruction Fund sectors.
Arkeus closed a $25 million Series A at a $100m valuation, 7x its seed round two years ago. The Melbourne-founded drone AI startup is building a manufacturing facility in Queensland and expanding into the US and Europe. No public detail yet on sales headcount or comp structure.
NSW shadow minister Jacqui Munro has launched #StopTheTechTax targeting Labor's proposed capital gains tax changes. The campaign reflects growing sector concern that moving from the 50% CGT discount to cost-base indexation, plus a 30% minimum tax on real gains, could increase founder tax bills at exit and push talent offshore.
Melbourne defence tech startup Arkeus closed A$25M Series A led by QIC Ventures at A$100M valuation. The company builds AI-powered hyperspectral sensors for autonomous military platforms and has won contracts with the Pentagon and Australian Defence. Money goes to manufacturing scale-up in Queensland and US market expansion.
Two Australian startups closed funding this week: Harrison.ai raised $179 million for healthcare AI expansion into US and UK markets, while insurtech UpCover secured $19 million ($8m debt) at a $45 million valuation. Both are hiring, but the sales motion looks very different.
Reevo closed $80M from Coastal Ventures and Kleiner Perkins to build an AI-native revenue operating system targeting mid-market GTM teams. The company is betting fragmented sales stacks, averaging 10-15 tools per team, will give way to unified platforms. Founder team from DoorDash, Stripe, and Square.
Kim Teo says ending the 50% CGT discount will push startup founders out of Australia, making government support measures pointless. The 2026-27 Budget replaces the discount with inflation-adjusted gains taxed at minimum 30%, hitting employee equity and founder exits. Airwallex, valued at $5.5B with 100+ ANZ sales roles, built its team on equity comp structures now under threat.
Former Up Bank CPO Anson Parker and payments exec Sam Mendelsohn closed a $4 million pre-seed for XMO, an AI-native consumer finance startup. The Melbourne team is building product, applying for licences and hiring before a 12-month Australian launch. No sales org yet: this is founder-led pilot territory.
Budget 2026 tweaks R&D tax offsets while Ireland boosts credits to 35% and the US restores immediate expensing. Australian deep tech founders argue the changes miss early-stage hardware startups burning capital before revenue. Trust taxation changes add pressure.
Federal government increases venture capital tax incentive caps starting July 2027. ESVCLP fund size lifts from $200M to $270M, investee business assets from $50M to $80M. Startups stay eligible longer, meaning more funded growth, which means more sales hiring. Worth noting: caps haven't moved in 20 years.