Antler Sydney generates 12 portfolio companies, invests $100K in each

Twelve startups formed in the Antler program in Sydney have secured $100,000 in pre-seed funding.


Antler, a global startup generator and early-stage VC fund, has invested in 12 startups generated in its inaugural Sydney program.

Of a total of 31 teams formed in the program over the last two months, 12 startups secured Antler's investment of $100,000 in pre-seed funding.

These teams, consisting of 2-3 founders, will continue in the program for an additional four months and ultimately pitch at Antler' s Demo Day with the aim to secure external seed investment.

The startups had 12 minutes to pitch their business to Antler' s investment committee (IC), followed by a 15-minute interactive Q&A session with the panel.

The startups were assessed on their team, team-product fit, product-market fit, the size of the problem their business is solving, viability, and scalability.

The IC consisted of eight venture capital experts from both Antler and the local ecosystem, including Antler Australia and New Zealand Managing Partner Bede Moore, Antler Australia and New Zealand Partner Anthony Millet, Antler co-founder and CEO Magnus Grimeland, and Antler co-founder and COO Fridtjof Berge.

Antler's investment in the startups is based on a company valuation of just over $1million and is in exchange for 10% equity in the business. As part of the investment, Antler does not seek board seats and founders are inducted into the global Antler alumni, which they can access for the future of their careers.

The program, the first of its kind in Australia, started in June with 70 individuals from a range of technical and commercial backgrounds.

The 12 portfolio companies span Fintech, InsureTech, Deep Tech, and various other industries, and are led by experts in their fields.

Other interesting statistics about portfolio companies:

  • 50% have at least one female co-founder on the founding team
  • 93% of the co-founders met at Antler
  • 67% of the teams built a business off the back of an idea they brought into the program
  • 17% of the founders have an MBA or PHD
  • 21% of the founders have previously founded a company generating more than $1m in revenue
  • All of the startups have at least one co-founder who was born overseas
  • "This experience has been remarkable."


    "In just eight weeks, these individuals have found their co-founders, identified a problem to solve, validated their solution, and built a business model. Not only that, many of these teams have already started on their MVP, made first hires, and secured customers," says Moore.

    "The grit and determination these founders have shown has been inspiring, and we' re looking forward to continuing the work with these amazing teams over the next four months, and help prepare them for Demo Day in November.

    "Those who didn't gain investment should also be fiercely proud of what they have achieved. We'll be working with these teams over the next week, helping them transition into the next phase of their journey, whether that be to join a team which did gain investment, continue on with their idea outside of Antler, or to pursue other opportunities."

    Antler will now help the portfolio companies grow and scale their companies, and provide access to its global network of advisors, investors and experts to help them along the way.

    In November, these teams will pitch their startups on stage at Antler's Demo Day to an audience of up to 500 local and international investors for external seed funding. In previous international cohorts, some teams have secured between $250,000 to $1.5million in external seed funding off the back of this event.

    If this sounds like something you want to be a part of, Antler is gearing up to launch its second Sydney program in January 2020. Apply here.

    This article was written by Sarah Kimmorley, Director of Communications for Antler in Sydney.

    Subscribe to our newsletter

    Get the latest news and views from Antler’s global community

    Thank you! Your submission has been received!
    Oops! Something went wrong while submitting the form.

    Must-read articles from Antler

    Browse our collection of founder stories, industry insights and latest startup successes from Antler Australia

    See articles
    Founder Stories
    5 min read
    Sharon Li & Vanessa Chen: Empowering employees to be their healthiest and most productive selves

    “People sometimes think the emotional and professional are conflicting, but what we believe is when people love their organization, the emotional value will actually make them productive. It will make them give their full self to the organization and make the organization grow for the long term.” —Sharon Li, co-founder and CEO of CHOYS

    Founder Stories
    5 min read
    Piet Hein van Dam: The seasoned data entrepreneur aiming to eradicate type 2 diabetes

    Our content series "It All Starts with People" delves into the passions, motivations, and vision of the exceptional founders we have the privilege of partnering with around the world. Bringing a clarity of vision to our latest spotlight is Piet Hein van Dam, co-founder of Clear, the award-winning digital self-help tool for diabetes patients.

    5 min read
    Unpacking the $80+ billion ONDC opportunity: India’s next startup catalyst

    India's approach to unbundle payments made the world look up and take notice. Now it's time to disrupt commerce with the Open Network for Digital Commerce or ONDC. In our latest Theory of Next deep dive we mapped, researched, and reached out to every network participant live on ONDC right now.

    And we're excited to share with you a comprehensive what could be India's next unicorn catalyst with inputs from Vibhor Jain (COO of ONDC), Sujith Nair (Founding member of Beckn Protocol), and founders building on ONDC!

    Co-authored by Nitin Sharma (Partner, Antler) and Gokul Kumaravelu.

    5 min read
    Five steps investors can take to support more diverse founders

    Despite growing calls to create a more inclusive venture capital ecosystem and remove the barriers to entrepreneurship, only a fraction of funding is raised by founders from underrepresented communities.

    The first step towards change is quantifying the challenge. While in-depth research has been conducted about women founders and founders from ethnic minority backgrounds, data has never existed about tech founders from the LGBTQ+ community—until now.

    5 min read
    A record year for Europe's leading day zero investor

    A look back at 2022, a record year for the leading day zero investor in Europe—showcasing investment activity and key predictions for the early-stage tech ecosystem in 2023.

    Founder Stories
    5 min read
    Antler and Microsoft for Startups partner to back women founders

    Antler is proud to join forces with Microsoft for Startups to support rising entrepreneurs—starting with 23 non-dilutive grants to women founders in South Asia, Southeast Asia, and North America—and reduce the barriers to startup success. Meet some of these founders.

    Founder Stories
    5 min read
    Tanika McLeod: The educator empowering the next generation with an on-demand social learning platform

    Our content series—"It All Starts with People"—delves into the passions, motivations, and vision of the exceptional founders we have the privilege of partnering with around the world. In our latest spotlight, we spoke with Tanika McLeod, one of the three co-founders behind MinuteSkill, a Toronto-based social micro-learning platform that uses bite-sized content and knowledge-sharing communities to empower the next generation.

    5 min read
    Venture capital as an engine of positive transformation

    Antler's second annual ESG and Impact Report shares learnings on how VCs can focus on creating sustainable value from the outset, and celebrates our portfolio companies' work in this space.