Adtech software company, Cartelux has announced that leading Australian venture capital firm, TEN13 and Queensland Investment Corporation (QIC) have invested in the Sunshine Coast-based company.
This post-seed investment of A$3 million will support continued growth and further development of Cartelux’s software solutions for the advertising industry, as well as expansion into additional categories. Cartelux’s target market includes global brands with geographically spread retail networks or franchisees, requiring localised marketing campaigns.
Cartelux was founded in 2020 by entrepreneur Joshua Williams to simplify digital advertising by offering an automated marketing platform that manages the relationship between brand owners and their downstream local retail partners.
The company has created software that allows advertisers to target and optimise their ad campaigns with precision and efficiency. Cartelux has gained strong adoption in the global automotive industry, with brands like Ford, BMW, Nissan, Toyota, Renault, Honda, and Mini.
“Working with TEN13 and QIC from our global headquarters in Queensland is an incredible honour, and their support allows us to accelerate our growth and elevate Cartelux to new heights,” Williams said.
“Their expertise and support will be invaluable as we continue to expand our platform and reach new markets. We are excited to team up with TEN13, QIC and additional investors like Tractor Ventures to form a leading global SaaS business founded in Australia. This team also gives us an experienced and professional starting point for future funding rounds.”
Cartelux is entering a new phase after adding the Americas and Africa to its global footprint with plans to expand into additional categories later this year. Cartelux software allows automating and regionally tailoring the ad creation, approval, and media buying processes across local, national, and international retail networks.