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MRead Awarded A$1.6 million Grant for Advanced Landmine Detector
MRead received a A$1.6 million grant from the Australian Government’s Industry Growth Program to speed up development of MineReader, a handheld landmine detector using magnetic resonance to identify explosive compounds and reduce false positives. The funding will help turn the proven prototype into a rugged, field-ready device, building on field trials in Angola earlier in 2024, and follows MRead’s merger with NextOre to form MagnaTerra Technologies after a A$11 million raise. CEO John Shanahan and CTO Nick Cutmore said the goal is faster, safer, more accurate demining, with the underlying sensing tech also having potential uses in defense, border security, and mining.
WRKR to Acquire Payroll Compliance Firm PaidRight for A$11.4 Million
WRKR Limited, led by CEO Trent Lund, agreed to acquire 100% of PaidRight in an all-scrip deal valued at A$11.4 million, issuing 90,909,091 new shares equal to about 4.8% of current capital. The acquisition still requires shareholder approval in January 2026, with an Independent Expert’s Report and an independent board committee managing governance due to Lund’s co-founder role in PaidRight. WRKR will phase integration using A$1–1.3 million from its recent raise, targeting a fully unified superannuation and payroll compliance platform in Q3 2026.
Powerhouse Ventures Partners With GlobalDots on Burleigh Fund
Powerhouse Ventures Limited, led by CEO Paul Vagg, entered a strategic partnership with GlobalDots to support the launch of the Burleigh Ventures Critical Infrastructure Opportunities Fund, positioned as an Australian CCIV. GlobalDots will provide A$1.5 million–A$7.5 million in capital plus operational support, including deal sourcing, technical evaluation, and portfolio scaling, and may earn up to 10 percent economic entitlement in the investment manager based on performance. The fund will target critical tech including AI, quantum, space, energy, and advanced materials, with existing assets such as Southern Launch and Sirius-beta Labs planned for transfer to accelerate deployment.
🤑 Opportunity Radar
Call for Applications: Hub71+ Life Sciences Health Innovation Program
Hub71+ Life Sciences in Abu Dhabi is now accepting applications for Cohort 19 with a deadline of February 1, 2026. Startups receive $70,000 cash via SAFE plus $70,000 in in-kind support, alongside mentorship, capital access, and corporate partnerships. Targeted at biotech, MedTech, and digital health founders, onboarding begins June 2026 with the program kicking off in September 2026. Apply now to scale with a global health innovation ecosystem behind you.
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