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Australian Investment In Start-Ups Hits Record High

KPMG has released a report on venture capital investment in Australia showing that companies hit a record $3.4 billion in Q1, up from $2.7 billion year on year, according to the consultancy.

KPMG’s Venture Pulse Report on global investment in start-ups reported a record 327 Australian VC investment deals over the financial year.

“Alongside the continued progression of Australia’s new unicorns –  start-ups that have achieved a valuation of over $1 billion – we have also seen record seed-rounds raised,” said Amanda Price, KPMG’s head of high growth ventures.

The report singled out SafetyCulture, which recently hit the $2 billion mark, as an example, but start-ups including Honey, Nourish Ingredients and Carted have also attracted tens of millions in early-stage funding.

Others such as Culture Amp and Dovetail are also being closely watched by venture-capital companies such as Y Combinator, Techstars and Sequoia.

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