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Sydney Startup Raises $10.5 million in Series A

Well done Data Republic!

Data Republic is a Sydney startup that offers a bank-level secured platform for companies and government to share users’ data. With a governance framework built by law firm Allens, the startup gives users a full control over their own data and the legal right to protection that allows them to manage privacy restrictions and ethically use of customer records. Data is an asset and hence, a very lucrative market these days.

Recently, Data Republic raised funds of $10.5 million in Series A round of funding, which was led by Qantas and NAB Ventures as always; though many big corporate players had participated. Westpac’s Reinventure Group that led a seed funding round, also made a point to involve in the latest round. The funding will help to push the startup into its next phase of growth and progress.  Paul McCarney is the co-founder of this startup.

The startup launched its beta service in November 2015, after its growth scaled up. However, the startup looks forward to develop the platform more intricately before it is fully set to go on-board.

Data Republic plans to make inroads in the US to gauge some development capabilities from there.

Takeaways:

  • Data Republic is a Sydney startup that offers a bank-level secured platform for companies and government to share users’ data.
  • Recently, Data Republic raised funds of $10.5 million in Series A round of funding, which was led by Qantas and NAB Ventures as always.
  • The funding will help to push the startup into its next phase of growth and progress.
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