Prime Highlights :
- ACTivate Capital has led a $4 million funding round for Seitec, supporting the Canberra defence technology company’s international expansion and product development.
- The investment will help Seitec grow its Canberra-based team and strengthen its passive sensing technology for defence, security and critical infrastructure markets.
Key Facts :
- ACTivate Capital contributed $1.5 million to the round, alongside Beaten Zone Venture Partners and the University of New South Wales.
- Seitec’s passive sensing technology enables detection and monitoring without revealing the user’s position, supporting applications across defence and government sectors.
Background :
ACTivate Capital has led a $4 million investment in Canberra-based defence technology company Seitec, backing the firm’s plans to expand overseas, grow its team and develop new products.
The venture capital fund invested $1.5 million from its $23 million fund, with Beaten Zone Venture Partners and the University of New South Wales also joining the funding round.
Seitec has developed passive sensing technology that allows defence and government users to detect and monitor activity without revealing their own position. The company was founded by former Royal Australian Air Force veteran Daniel Stevens.
The new funding will help Seitec take its technology into international markets while expanding its Canberra-based workforce. The company also plans to continue product development for defence, security and critical infrastructure customers.
ACTivate Capital chairman Mick Cardew-Hall said Seitec matched the fund’s focus on Canberra companies with technology that can compete internationally. He also pointed to the potential for the business to create export opportunities and high-value jobs in the Australian Capital Territory.
ACTivate Capital was launched with a $23 million initial close and has the capacity to grow to $50 million. The fund plans to invest in 10 to 15 companies across pre-seed, seed and early Series A stages over the next decade.
The Seitec deal is among the fund’s first investments and comes as Australia places greater emphasis on developing domestic defence capabilities and helping local technology companies compete in global markets.