Skalata investment to unlock $20 million for Victorian startups - LaunchVic

Skalata investment to unlock $20 million for Victorian startups


Last Updated: Wednesday 22 May

LaunchVic is set to continue its work to address the early-stage funding gap for Victorian startups with a $900,000 strategic investment in Skalata Ventures, announced today.

The new deal will see Skalata support at least 30 new Victorian startups and see $20 million invested in Victorian startups as part of the funding arrangement in the next two years.

LaunchVic CEO Dr Kate Cornick said the investment comes at a challenging time for Victorian founders, as research shows the state continues to lag behind Sydney in seed, Series A and Series B funding.

“Early-stage funding in Victoria remains below $100 million investment per annum, with little movement since 2016,” Dr Cornick said.

“Our investment in Skalata will see $20 million unlocked for Victorian founders so they can scale and create new jobs- the ultimate goal for us at LaunchVic.”

Established with a $3 million cornerstone grant from LaunchVic in 2018, Skalata mentors business talent from top universities and works collaboratively with them to build early-stage companies.

LaunchVic’s initial investment has already unlocked more than $27 million in capital for Victorian startups. One example is eCommerce startup preezie, who closed a $250,000 seed round with Skalata in 2020 and went onto raise a $5.5 million Series A just 18 months later.

Co-founder Rohan Workman said the Skalata model helps startups navigate the seed stage and come out the other side – stronger, more capable and ready to scale.

“Skalata’s focus is on building a business, not just a runway,” he said.

“The Skalata team and board have created, built, advised and exited literally hundreds of early-stage companies over the years, and we put all that experience in the founders’ pocket.”

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About LaunchVic

LaunchVic is Victoria’s lead startup agency. We were established by the Victorian Government in March 2016 as an independent agency to fuel the growth of Victoria’s startup ecosystem.

Victorian startup ecosystem

• Melbourne’s startup sector value has grown by 18X since 2016 to $103 billion.
• Victoria is home to more than 3,400 startups – companies that use innovative business models and technology to grow fast and service global markets.
• For a free and dedicated source of real-time data on Victoria’s startup founders, investors, corporates, and policymakers, including startup jobs, go to