CDC’s partner search | Helfie AI chas es $1.5b valuation | Finclear set to lose Com mSec

Good evening,

From workplace inspection software SafetyCulture to online education platform Go1, a growing list of Australian start-ups are cracking the billion-dollar valuation and becoming fully fledged unicorns as they do.

One that has gone under the radar, until now, is Melbourne-based Helfie AI, which is working on software that will be able to screen for skin cancer and COVID-19 through a smartphone app.

Several sources close to the healthcare start-up say it is gearing up for discussions with local and international investors and hoping to raise more than $US100 million ($150 million) and up to $300 million, giving it a valuation of about $US1 billion even before its consumer-facing product is on market.

Last year, it raised $US33 million at a valuation of $US750 million.

Sources said the raising effort, led internally by former Citi sustainability banker and debt capital markets head Ian Campbell, will focus on investors in the United States with local venture capital firms hesitant to fund pre-revenue companies at such large numbers. Campbell is talking to a number of international banks to assist with the proposed raise.

Read the full story tomorrow and more on the Street Talk page.

Canberra Data Centres, backed by the Future Fund, dual-listed renewables investor Infratil, and the Commonwealth Superannuation Corporation has had Barrenjoey Capital Partners tick off every last requirement for drafting a new capital partner before an auction is formally launched.

Australian shares extended gains on Friday, but stopped short of a closing high as a drag in banks offset a strong push in mining stocks as commodity prices rose.

Click here for the latest equity market wrap.