Australia’s home care provider Five Good Friends has announced a strategic investment from TPG while Alternative food tech company INTAKE has closed its Series C funding round.
TPG acquires majority stake in Five Good Friends
Australian home care provider Five Good Friends has announced a strategic investment from global alternative asset management firm TPG to fund its growth plans.
Under the terms of the agreement, TPG will acquire a majority interest in Five Good Friends alongside co-founders Simon Lockyer and Nathan Betteridge, who will retain significant interest in the company and continue in their leadership roles.
Global investment organisation EQT will retain a minority stake.
Five Good Friends was founded in 2016 as a technology-led disrupter with a focus on delivering a high-quality care experience.
The company also developed Lookout, a SaaS solution for home care operators that has been built specifically to cater to the needs of the Australian market.
Joel Thickins, co-head of TPG Asia and head of Australia & New Zealand, said: “Five Good Friends has built a terrific business with all the elements required for continued success. At a time when broader in-home aged care reforms are taking place to ensure Australia’s elderly live independently at home for longer, their approach to home care and disability support, coupled with their cloud-based software solution, has enabled them to create a truly unique care delivery platform that combines the best of technology and human care.”
Five Good Friends’s Lockyer added: “For the entire Five Good Friends and Lookout team, TPG’s investment is validation of our ambitions to build a scalable care platform that delivers a higher quality care experience underpinned by transparency and improved oversight.”
Foodtech startup INTAKE raises $9.2m Series C round
Alternative foodtech company INTAKE has closed its Series C funding round at 13.5 billion South Korean won ($9.2 million). The round was led by CJ Investment, HB Investment, Woori Venture Partners, KDB Industrial Bank Capital, J Curve Investment, and Wonik Investment Partners, totalling six institutional investors.
Founded in 2013, INTAKE is a foodtech startup specialising in B2C alternative food products and B2B alternative protein solutions.
In 2024, the company recorded 22.4 billion South Korean won in revenue with a 30% annual growth rate.
Last year, INTAKE was also selected as the primary institution for a 6 billion South Korean won government-funded national research project on alternative seafood technologies.
INTAKE plans to allocate the newly secured funds to R&D and global infrastructure expansion for its microbial-based alternative protein business.
Precision fermentation-based yeast cultivation, a core technology in next-generation protein development, is gaining global attention as a sustainable solution for climate-independent protein production.
INTAKE is leveraging this technology to produce first-generation protein powders, which serve as the foundation for second-generation alternative proteins, including alternative meat, egg, and dairy products.
