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Australian satellite start-up Esper is on the hunt for critical minerals from space after raising $5 million in seed capital.

The round was led by Northern Australia venture capital investor Paspalis Capital and $3 billion Islamic financial services companyHejaz and will see the spacetech seek to deploy five more satellites.

Esper was founded by university friends Shoaib Iqbal and Przemyslaw
Lorenczak. The Melbourne-based company builds, launches and operates a network of hyperspectral satellites that take pictures of Earth. The images are specifically targeted at detecting critical mineral deposits like lithium, cobalt and rare earths.

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

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Street Talk can reveal two global private equity heavyweights – New York-headquartered KKR and Swedish operator EQT – went head-to-head on ASX-listed Johns Lyng last year, both making their informal, non-binding interest known to the company.

Shares in the company have since halved.

A rally in Australian shares gained momentum on Monday, as traders flocked to unloved stocks before a sweep of new US tariffs hits global markets this week.

Click here for the latest equity market wrap.