Prominent Brisbane GP Leads New Investment of $475,000 in Cubiko
Dr John Aloizos AM leads a consortium alongside the Queensland government’s investment.
Brisbane-based health tech start-up, Cubiko, has today announced a $475,000 funding injection, including a generous family and friends investment and institutional support from the Queensland Business Development Fund (BDF).
Respected Brisbane GP, Dr John Aloizos AM, leads a consortium of investors putting $275,000 into the company alongside the BDF’s investment of $200,000.
‘When you own or manage a practice, there is a huge amount of information to absorb and very little time to make sense of all that data,’ said Dr Aloizos. ‘Cubiko distills the key information and gives you insights that help your practice thrive. That’s why I give my time to Cubiko as its chairman and am proud to be its lead co-investor.’
Cubiko was born and raised in primary care. Developed in a not-for-profit general practice in Inala, Cubiko has successfully innovated and commercialised into a business that employs 10 Queenslanders and delivers insights to general practices across Australia to help them respond to the needs of their communities.
A growing number of practices subscribe to the full version of Cubiko while over 100 have signed up for Cubiko Assist, a purpose-built pandemic dashboard to help practices respond to the clinical and financial impacts of COVID-19.
Thanking Dr Aloizos for his investment in Cubiko, founder Chris Smeed said, ‘John’s support has been invaluable to us. We’ve benefited from his expertise as Cubiko’s chairman and are deeply honoured by his financial investment.’
That investment is integral to Cubiko’s growth, according to Smeed. ‘It allows us to expand our data partners, move into new markets and continue our mission to be Australia’s leading practice intelligence platform.’
Brisbane-based ventures studio, Aginic Ventures, has been the powerhouse behind Cubiko since the very beginning. Aginic director Rob Mackay said the investment of nearly half a million dollars is a testament to the reputation Cubiko has developed in the health and start-up community since launch.
‘We’re incredibly proud of the Cubiko team for what they’ve achieved in such a short period of time, and the role they’ve played, not only in the general practice community but the broader innovation ecosystem here in South East Queensland,’ said Mackay.
A Treasury spokesperson said that, ‘Queensland Treasury believes that supporting emerging companies through the $80 million Business Development Fund (BDF) underpins the Government’s commitment to growing jobs and strengthening the State’s entrepreneurial ecosystem.’