Quidnet Ventures has invested in PowerON, a New Zealand-based startup specializing in dielectric elastomer technology, reflecting the growing confidence in the country's innovation-driven market.

Information on the Target

PowerON is a pioneering company based in Auckland, New Zealand, that specializes in dielectric elastomer technology. This spin-out from the Biomimetics Lab at the Auckland Engineering Institute is focused on positioning itself as a global leader in research and innovation within this rapidly evolving field. Following a successful fundraising effort, where PowerON raised NZ$3.1 million, the company is set to turn its ambition of advancing soft robotics technology into reality.

Backed by a coalition of seasoned investors, including IP Group, Matū Fund, and the University of Auckland Inventors' Fund, PowerON embodies the innovative spirit of New Zealand's startup ecosystem. The significant oversubscription of their fundraising indicates strong confidence from the investment community in PowerON's vision and potential.

Industry Overview in New Zealand

New Zealand's startup landscape is witnessing unprecedented growth, driven by a unique cultural mentality and supportive funding environment. The country is becoming a hotbed for entrepreneurs, particularly