Airwallex hands $1M to 10 Australian AI startups in first Latitude 37 cohort
What's the deal? Airwallex has named the first cohort of Latitude 37, awarding a combined $1 million in equity-free grants to 10 emerging Australian AI startups. Each company receives $100,000 plus access to the fintech's global network and immersion visits to San Francisco and Singapore. The 10 were selected from hundreds of applicants.
Who made the cut? The founders span industries from financial services and education to robotics, aerospace, sport, transport, and travel. They include AXIOMSDealroom has a profile for this one. Try Dealroom →, building networks of AI agents; Blank RoboticsDealroom has a profile for this one. Try Dealroom →, deploying modular robots for grocery retail; GeospanDealroom has a profile for this one. Try Dealroom →, using real-time road hazard detection for autonomous vehicles; and Polarbear AIDealroom has a profile for this one. Try Dealroom →, building AI-native schools.
Why the equity-free model? The grants carry no ownership stake, a departure from typical accelerator terms. "Our job is to make sure building a globally significant company from Australia isn't the harder path," said co-founder and chief executive officer Jack Zhang.
What's the endgame? Airwallex is positioning the program as a bridge to the networks and markets that Australian founders often struggle to reach early. Co-founder and president Lucy Liu said the aim is to give founders "early access to the people, markets and experience that can accelerate that journey."
For recipients, the money is timely. Geospan chief executive officer and co-founder Julia Tan said the $100,000 "comes at a pivotal time," enabling a key hire and expanded roadside deployment trials.
Who picked them? The selection panel drew from Australia's venture establishment, including Dan Krasnostein of Square Peg, Michael Tolo of Blackbird Ventures, and James Cameron of AirtreeDealroom has a profile for this one. Try Dealroom →, alongside academics from UNSW and the University of Melbourne and Airwallex leaders.
The signal: Airwallex, itself one of Australia's most valuable startups, is investing in the next wave of local AI founders rather than chasing returns through equity. The move reflects a broader push to keep ambitious Australian companies scaling globally from home.
Read more: australianfintech.com.au
Image credit: Generated with Gemini
