Sunshine Coast Startups Secure Millions for AI and Wearable Tech

A Sunshine Coast hardware startup closed a $28 million Series B round last week to expand production of camera-free smart glasses aimed at workplace productivity.

The deal reflects a broader shift where investors now favour tools that boost output without adding surveillance risks. Global backers see the region’s engineering talent and lower operating costs as advantages over Sydney or Melbourne clusters.

Local anchors driving deal flow

Teams at the Kawana Waters Innovation Precinct and the Buderim-based CoastTech Accelerator have supplied early prototypes to three enterprise pilots. The precinct’s shared clean-room facility on Nicklin Way opened in March 2025 and now hosts 14 hardware firms. Accelerator graduates report average first-round cheques rising from $1.2 million in 2024 to $4.7 million this quarter.

One Kawana firm secured a pilot contract with a logistics operator on the Bruce Highway corridor, testing glasses that overlay route data without storing video. Buderim engineers meanwhile adapted open-source models for family scheduling apps that run locally on home servers.

Numbers behind the momentum

Regional venture tallies released by the Sunshine Coast Economic Development Board show $142 million committed to tech companies in the first half of 2026, up 63 percent from the same period last year. Average round size reached $6.8 million. The board attributes the jump to two factors: proximity to Brisbane’s fibre backbone and a 15 percent state rebate on R&D spend that took effect January 2025.

Companies that hit revenue milestones by December 2026 can apply for an additional $250,000 matching grant through the same program. Founders planning expansions should contact the precinct’s investment desk before the next quarterly review in September.