# Paspalis

> Paspalis is a VC fund in Darwin backing Aerospace and Manufacturing. See 35 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Darwin, Australia
- Total investments: 35
- Last investment: Mar 2026
- Lead investor: 66%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/paspalis/about/
- Website: https://www.paspalis.com.au/paspalis-innovation-investment-fund-piif/

Paspalis is a leading venture capital investor in Northern Australia. We invest in innovative companies, both locally and globally, looking to do business in the Northern Territory.

## Contacts

5 contacts available for Paspalis. Shizune tracks 3 team members at Paspalis. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/paspalis-innovation-and-investment-fund?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $500k–$20M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Aerospace | 6 | 17% |
| Manufacturing | 4 | 11% |
| Logistics | 3 | 9% |
| Space Travel | 3 | 9% |
| Transportation | 3 | 9% |

51 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 18 | 51% |
| Series A | 5 | 14% |
| Venture - Series Unknown | 3 | 9% |
| Grant | 1 | 3% |
| Pre-Seed | 1 | 3% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Australia | 15 | 43% |
| Singapore | 6 | 17% |
| United States | 1 | 3% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Alex Farrugia | Investment Manager | 2 | https://shizune.co/investors/profile/alex-farrugia-9a32 |
| Geoff Thomas | Investment Committee member | 0 | https://shizune.co/investors/profile/geoff-thomas-4cd9 |
| Harley Paroulakis | CEO | 16 | https://shizune.co/investors/profile/harley-paroulakis |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Arlula | Arlula provides a single integration point for a global network of satellite imagery. | $2.4M | Seed | Mar 24, 2026 |  |
| Polybee | Polybee develops autonomous drone systems designed for agricultural applications. They focus on automating yield forecasting and pollination using drones, computer vision, and artificial intelligence. Their technology aims to reduce uncertainty in agriculture by providing solutions for seed companies, vertical farming operations, and greenhousecooperatives. Polybee's innovations are particularly useful in environments. | $4.3M | Seed | Feb 09, 2026 |  |
| Atomionics | Atomionics is building atomic sensors for navigation and resource exploration. Sensing technology is severely inadequate for a lot of applications navigation and positioning, pinpointing oil and gas reserves, tunnel detection etc. Atomionics builds atomic sensors harnessing quantum mechanical properties of the atoms. This enables measurement ofparameters like gravity, acceleration and rotation with 1000x higher precision and accuracy than the current state of the art, leading to a completely new way of global positioning, and resource exploration. | $12.7M | Seed | Sep 08, 2025 |  |
| Transcelestial Technologies | Transcelestial is developing the fastest, long-distance, point-to-point wireless communication network possible. It will be delivered as a space data network for terrestrial and satellite applications, which will use lasers to transfer data at up to 1000x faster than what is currently available. The network will be difficult to jam and will notneed any spectrum pre-allocation or regulation. | $5.7M | Venture - Series Unknown | Jun 30, 2025 |  |
| Esper Satellite Imagery | Esper Satellite Imagery is building a constellation of hyperspectral imaging satellites. These satellites will fly in-house built hyperspectral imagers covering 100+ bands with a 1m GSD | $3.1M | Seed | Mar 04, 2025 |  |
| Go Locum | Go Locum uses artificial intelligence to ease the recruitment process by automating credentialing and matching healthcare professionals to job possibilities in regional and remote areas. | $234.6K | Seed | Jul 18, 2024 |  |
| Equatorial Space | Equatorial Space is a rocket propulsion and launcher startup that aspires to make space launch as safe and affordable as commercial air travel.We will achieve that goal by simplifying the most failure-prone and expensive part of launch vehicles - their propulsion. Our rocket systems are non-explosive, eco-friendly, and halve the componentrequirements while being potentially reusable. This safe and efficient combination is made possible thanks to our proprietary solid fuel composition with a wide range of civilian and military applications.Equatorial Space won the MBRSC Innovation Cup in Dubai in 2018, and graduated from The Hangar by NUS Enterprise programme in Singapore in 2019. We have been featured in a number of regional and international publications including Channel NewsAsia, Nikkei Asian Review and South China Morning Post prior to incorporation of an American C Corporation to foster our growth.In 2021, Equatorial Space secured a place in the inaugural batch of the Q Station Accelerator, backed by the US Space Force and the Air Force Research Lab in Albuquerque, NM, and will soon announce securing a place in a prestigious accelerator programme in California.We are in the process of raising a USD 2m Seed Round to achieve TRL level of 7 with a test vehicle that will prove our rocket fuel in a hypersonic flight regime, which will be ready for launch by mid 2022. We plan to conduct a series of static fire demonstrations in the United States at the NASA Stennis Space Centre around the same time. | $1.5M | Seed | Jul 05, 2024 |  |
| Equatorial Space | Equatorial Space is a rocket propulsion and launcher startup that aspires to make space launch as safe and affordable as commercial air travel.We will achieve that goal by simplifying the most failure-prone and expensive part of launch vehicles - their propulsion. Our rocket systems are non-explosive, eco-friendly, and halve the componentrequirements while being potentially reusable. This safe and efficient combination is made possible thanks to our proprietary solid fuel composition with a wide range of civilian and military applications.Equatorial Space won the MBRSC Innovation Cup in Dubai in 2018, and graduated from The Hangar by NUS Enterprise programme in Singapore in 2019. We have been featured in a number of regional and international publications including Channel NewsAsia, Nikkei Asian Review and South China Morning Post prior to incorporation of an American C Corporation to foster our growth.In 2021, Equatorial Space secured a place in the inaugural batch of the Q Station Accelerator, backed by the US Space Force and the Air Force Research Lab in Albuquerque, NM, and Techstars Los Angeles.The Company maintains presence in Singapore, Australia and the United States | $1.5M | Seed | Jul 05, 2024 |  |
| Equatorial Space | Equatorial Space is a rocket propulsion and launcher startup that aspires to make space launch as safe and affordable as commercial air travel.We will achieve that goal by simplifying the most failure-prone and expensive part of launch vehicles - their propulsion. Our rocket systems are non-explosive, eco-friendly, and halve the componentrequirements while being potentially reusable. This safe and efficient combination is made possible thanks to our proprietary solid fuel composition with a wide range of civilian and military applications.Equatorial Space won the MBRSC Innovation Cup in Dubai in 2018, and graduated from The Hangar by NUS Enterprise programme in Singapore in 2019. We have been featured in a number of regional and international publications including Channel NewsAsia, Nikkei Asian Review and South China Morning Post prior to incorporation of an American C Corporation to foster our growth.In 2021, Equatorial Space secured a place in the inaugural batch of the Q Station Accelerator, backed by the US Space Force and the Air Force Research Lab in Albuquerque, NM, and Techstars Los Angeles.The Company maintains presence in Singapore, Australia and the United States | $1.5M | Seed | Jul 05, 2024 |  |
| Liandra Swim | Liandra Swim is a clothing company that produces swimwear using recycled fabrics and biodegradable packaging. Liandra Swim uses an environment-friendly approach. Liandra Swim fuses Aboriginal Australian Culture with on-trend premium designer swim + resort wear. Swimwear includes seamless designs and striking prints. All bikinis are soldseparately, to allow match styles, prints, and sizes.The prints are inspired by Aboriginal Australian culture. |  | Venture - Series Unknown | May 23, 2024 |  |

10 of 35 investments shown.

## Co-investors
- [Farquhar VC](https://shizune.co/investors/profile/farquhar-vc) — VC Fund, 3 deals together
- [CAP Vista](https://shizune.co/investors/profile/cap-vista) — VC Fund, 2 deals together
- [IQT](https://shizune.co/investors/profile/in-q-tel) — VC Fund, 2 deals together
- [Seeds Capital](https://shizune.co/investors/profile/seeds-capital) — VC Fund, 2 deals together
- [Wavemaker Ventures](https://shizune.co/investors/profile/wavemaker-partners) — VC Fund, 2 deals together
- [500 Global](https://shizune.co/investors/profile/500-startups) — VC Fund, 1 deal together

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## FAQ

### What does Paspalis invest in?

Paspalis invests primarily in Aerospace, Manufacturing and Logistics startups, most often at Seed and Series A stage. Most of the 35 investments tracked by Shizune back companies in Australia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Paspalis's check size?

Paspalis typically joins rounds of $500k–$20M at Seed. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Paspalis participates in.

### How do I contact Paspalis?

Public channels for Paspalis include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Paspalis?

The team at Paspalis includes Alex Farrugia (Investment Manager), Geoff Thomas (Investment Committee member) and Harley Paroulakis (CEO). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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