Global Kinetics closes AU$1.5m funding round

Global Kinetics Corporation has sourced an addition AU$1.5 million in its latest funding round from 55 investors globally.

Private Australian mobile health technology company Global Kinetics Corporation (GKC) has closed approximately AU$1.5 million in its latest funding round from equity crowdfunding platform OurCrowd.

As part of the funding round, 55 investors were involved with the deal globally, including half of the investors being Australian.

The capital from the funding round is expected to help GKC commercialise its Parkinson's KinetiGraph solution, a device aimed to assist clinicians asses and manage the disabling symptoms of Parkinson's disease and other movement disorders.

GKC managing director Andrew Maxwell said the key focus will be on the next 18 months where the company plans to extend its network.

"We will continue to increase out network of specialty clinics using our Parkinson's KinetiGraph, particularly in the US market, and also developing out what we've already started in Europe," he said.

"It's really all about focusing on people on the ground; building our teams, and giving them the tools and resources they need to be able to introduce our product to clinicians; and help them implement and get those clinicians using our product."

GKC has raised in excess of AU$25 million in equity funding and government grants to date, Maxwell said. Other investors of GKC have included Melbourne-based venture capital fund Brandon Capital Partner, and other institutional investment funds, industry experts, and high net worth individuals.

Claiming it to be largest equity crowdfunding round in Australia, OurCrowd Australian managing director Dan Bennett said he has no issues with investing funds into companies he regards as "high quality".

Since launching in Australia last February, OurCrowd has raised more than AU$25 million in local and global deals from Australian investors.

"If we can find more GKCs then there'll be a lot more deals. We're in discussion with a couple of great Aussie tech companies at the moment, it's just a question of fitting in with our key investment criteria, and when we're able to satisfy those metrics then a deal will go onto the platform," Bennett said.

"There are certainly great opportunities [in Australia]. We're a growing environment. We did about half a billion dollars in venture capital last year, and more than half of that was taken by Campaign Monitor."

Bennett added that while the Australian startup scene may not be as evolved as the US, Europe, or Israel, there is a large push locally to grow it.