Queensland startup Smart AI Connect secures $1 million seed round

Fusion Venture Labs, a venture platform designed to build, invest in, and scale technology companies, has delivered its first Cyber Security Lab, culminating in Queensland startup Smart AI Connect securing an oversubscribed $1 million seed round and progressing towards live deployment of its SuppliAssure platform across Australian superannuation funds.

Fusion Venture Labs brings together venture creation, industry partnerships, and venture investment into a single integrated platform. 

The 12-week Cyber Security Lab program is designed to accelerate commercialisation by embedding early-stage ventures directly within industry, enabling real-world validation and a pathway to national and global scale.

Through the Lab, Smart AI Connect partnered with a number of institutions to address systemic challenges in third and fourth-party cyber security.

SuppliAssure replaces traditional, point-in-time assessment models with continuous assurance, using live control signals and API-driven evidence to validate supplier security posture in real time.

The platform targets regulated sectors, including financial services and superannuation.

The program was delivered in partnership with industry, including Insignia Financial, with support from Queensland Investment Corporation.

As part of the Lab, Fusion Venture Labs and Smart AI Connect presented to the Australian Superannuation Cyber Security Forum, whose members represent the majority of Australia's superannuation capital, totalling trillions in retirement funds.

Engagement is now underway with multiple institutions to support deployment across pilot funds and broader sector rollout.

The $1 million seed round was backed by UniQuest Extension Fund, Admiralty Capital Group, Torus Capital and Pipeline Capital, reinforcing investor confidence in the platform's commercial trajectory.

Fusion Venture Labs continues to engage with institutions responsible for vendor risk and operational resilience, with further trials and deployments planned as part of its broader cyber security program.