Welcome Seitec!

Sydney Angels are pleased to welcome Seitec as the latest addition to our investment portfolio.

The completion of the company's initial seed round led by Sydney Angels and coordinated by Adrian Waters raised almost $600,000 from a consortium of Sydney, Melbourne and Brisbane-based Angel groups as well as a pool of independent high-net-worth investors. The Sydney Angels syndicate drew heavily on members' technology, commercialisation and Defence industry expertise during the due diligence process. The round was fully subscribed with a pre-money valuation of $3.1 million.

Seitec is a veteran-founded firm based in Canberra ACT that was born through a commercialisation process from Defence Australia. Seitec has developed a new technology for detecting and locating unexploded ordnance on military test ranges using a system of seismic sensors. With an increasing awareness of the need to ensure unobstructed ranges both domestically and abroad, the UXOTrackS technology saves range operators time and money while also making ranges safer and more environmentally friendly. UXOTrackS is nearing market readiness and Seitec are currently in discussions with the Royal Australian Air Force.

Seitec founder Daniel Stevens is confident of the technology's ability to be expanded to other use cases including vehicle and footstep detection for security applications in a product the company calls Nightingale. Development of Nightingale is ongoing and the technology is expected to be ready to demo from Q3 2022.

High flyer Fiona Church soars through the cloud

Check out Sydney Angels Portfolio Company Trendspek - Precision Asset Intelligence featuring co-founder Fiona Church speaking to Microsoft about her journey.

High flyer Fiona Church soars through the cloud
"There's going to be highs and lows, but as they say - nothing worthwhile is ever easy!"

Sydney Angels are pleased to announce the latest exit from its portfolio of companies with the news that Schneider Electric has acquired Aurtra.

Sydney Angels are pleased to announce the latest exit from its portfolio of companies with the news that Schneider Electric has acquired Aurtra.
 
Aurtra, founded in 2017 and built upon technology developed at the University of Queensland, is an Australia based company that produces innovative sensors and software to monitor, analyse and provide actionable insights for electricity transformers.

A Sydney Angels syndicate of 20 members and the Sydney Angels Sidecar Fund invested in Aurtra after due diligence following impressive pitches by Terry Woodcroft and Stephan McRae, along with co-founder and CTO Richard Harris.
 
Sydney Angels was extremely pleased to be able to back the commercialisation of exciting technology with global export potential coming out of an Australian university. Sydney Angels members are obsessed with supporting great founders, building great businesses, creating jobs.
 
Schneider said in a statement that the investment strengthens its position as a provider of services across the full electrical distribution value chain.
 
“With this technology, we help customers avoid catastrophic and expensive transformer failures, optimise their operating expenses on individual or transformer fleets and ultimately extend transformer life”, said Pedro Robredo, VP of digital transformer services at Schneider Electric.
 
Sydney Angels joined other investment groups such as Brisbane Angels Group Limited, Melbourne Angels Inc and Uniseed. The leadership and professionalism of fellow Angel Investor and Non-Executive Director David Anstee was a key component of the success of Aurtra.
 
Over the two-year investment period, Sydney Angels members were pleased to receive 4.3 times return on their investment delivering an internal rate of return of over 60% pa.

Clarity Pharmaceuticals

Congrats to Dr Alan Taylor and the entire Clarity Pharmaceuticals team on your IPO today (ASX:CU6). A strong debut above the IPO price. Sydney Angels has been pleased to have been able to support you over the last 10 years. What a spectacular outcome for all. Well done. https://lnkd.in/gKU946aH

Congratulations to Sydney Angels Portfolio Company eBev

Congratulations to eBev (a Sydney Angels portfolio company) for the launch of eBev Trade, clearly much needed in this environment!!

NEW eBev Trade provides cost savings to licensed venues and their beverage suppliers plus a much-needed cash boost to the industry. eBev - Australia’s largest online beverage ordering platform - now builds on its expertise in order management with the addition of eBev Trade credit and payment facilities.