University of Melbourne spinouts 121cast and Venuemob both receive funding from Optus, the Australian subsidiary of telecommunications firm Sing-Tel.

Optus, the Australia-based subsidiary of telecommunications company Sing-Tel, has made its first two investments in startups spun out from the University of Melbourne (UoM).

The two firms, 121cast and Venuemob, are alumni of the Melbourne Accelerator Programme. The initiative was launched by Melbourne School of Engineering, part of UoM, to support the spinout firms of the university’s alumni and staff.

121cast, which specialises in turning information into spoken word, raised AUS$250k ($261k) in a round led by Innov8, Sing-Tel’s venturing…

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