How CIA-backed In-Q-Tel became one of Australia's biggest deep tech investors
In-Q-Tel invests in tech for intelligence and defence. In five years in Australia, it has backed nearly 20 local startups.
There are thousands of companies around the world using threat detection to protect computers from digital viruses. Sydney startup ExoFlare’s mission is to create a platform that can do the same for the global food chain.
In July, ExoFlare secured $5.3 million in funding to further develop its platform, which is already used by half of Australia’s chicken farmers. Among those who invested were W23, a venture fund backed by Woolworths, and the co-founders of Harris Farm.
Another name on the cap table, increasingly common among Australia’s deep tech startups, is In-Q-Tel — often referred to as the venture arm of the CIA.
There’s good reason for this, according to ExoFlare founder Adrian Turner. While cybersecurity and space are the two most geopolitically contested domains, food systems are not far behind.
