Seven Australian businesses featured on Forbes Asia's '100 Companies to Keep an Eye On'
In a remarkable showcase of innovation and investment, seven Australian companies have been included on the prestigious 2025 Forbes Asia 100 to Watch list. This list highlights emerging businesses across the region, with this year's entries collectively raising nearly $3 billion in funding.
One of the standout companies is Sicona Battery Technologies, a deep tech startup founded in 2019. Based in Australia, Sicona specializes in the production of new anode materials for lithium-ion batteries. Their groundbreaking technology, SiCx, blends silicon nanoparticles and graphite to improve battery performance, offering up to 20% higher energy density and a 40% faster charging rate compared to conventional graphite-only battery cells.
Sicona's innovative approach has not gone unnoticed, with investments from prominent firms such as Artesian, Waratah Capital, Riverstone Ventures, Chaos Ventures, Investible Climate Tech Fund, and Himadri, an Indian specialty chemicals manufacturer. Himadri recently signed a strategic partnership and technology licensing agreement with Sicona, investing A$15 million ($9.9 million) in the startup and establishing a SiCx plant in India.
Another Australian company making waves is Ecojoule Energy, founded in 2018. This Queensland-based company tackles grid instability, a growing concern as more households opt for solar power. Their solutions include the battery storage device, EcoSTORE, and the EcoVAR regulator. Ecojoule Energy raised A$15 million ($9.9 million) in its first round of external funding in March from investors including Ellerston Capital and Fifth Estate Asset Management.
Sydney-based Neara, founded in 2016, helps electric utilities develop virtual models of their distribution networks to prevent disruptions caused by severe weather and other outage risks. Last October, Neara raised A$45 million ($29 million) in a series C funding round, led by private equity giant EQT, to accelerate global expansion.
Neara is not the only Sydney-based company making strides in the tech sector. Unleash Live, founded in 2016, is a cloud-based platform that helps companies analyze live video from drones, CCTV, and mobile devices. In May, Unleash Live raised A$17 million ($11.1 million) in a series B funding round.
In the realm of health technology, Australian companies such as Vulcan Energy Resources and Lithium Australia have made significant advancements in the past decade. These companies focus on improving lithium recovery and developing new anode materials for lithium-ion batteries.
Meanwhile, Blinq, a company from Australia, has disrupted the traditional business card scene by replacing paper business cards with a digital platform used in 189 countries.
Lastly, Heidi Health, another Australian company, applies AI to automate clinical documentation for doctors, streamlining the healthcare industry's processes.
With these innovative businesses leading the way, Australia had the largest presence in the Energy & Green Tech sector on the Forbes Asia 100 to Watch list, reflecting the country's commitment to sustainable and forward-thinking business practices.
