NZ startups surging in 2025: anomaly or new normal?

(Image: Getty)

Wed, 25 Jun 2025

The midpoint of 2025 finds New Zealand’s startup scene in fine form. In the last two months Tracksuit, Projectworks, and Halter have each closed major funding rounds – Halter’s $165 million Series D at a unicorn valuation, Tracksuit’s $42m Series B raise to fuel global expansion, and Projectworks’ $25m Series A, one of the largest for a Kiwi tech firm.That’s $217m raised across just these three deals. Not bad in a depressed economy where the only other green shoots seem to be in the form of rising c...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Law & Regulation

IAG hit with record $19.5m fine for 'widespread failures'

IAG is New Zealand's largest insurer.

Gregor Thompson 3:00pm

Economy

RBNZ headcount rises, Adrian Orr gets restraint of trade payment

Staff expenses at the Reserve Bank of New Zealand rose 24% in the year to June 30.

Rebecca Howard 1:24pm

RBNZ headcount rises, Adrian Orr gets restraint of trade payment

Energy

Switching off gas networks could cost more

Gas study looks at business as usual versus switch-off.

Ian Llewellyn 1:00pm

Switching off gas networks could cost more

Sponsored

Fiji’s exclusive side revealed

Private islands and 5-star luxury, closer than you think.

Tourism Fiji

Sponsored

The double edge of AI in cyber security

Artificial intelligence has the potential to become both a lifeline and a liability for modern organisations, as a revolutionary tool capable of spotting threats at lightning speed, but also the ultimate weapon in the hands of cybercriminals.

Spark