Apate.ai, an Australia-based cyber-intelligence startup, has raised A$2.5 million (US$1.6 million) in a seed round led by OIF Ventures, with participation from Investible.

Founded in 2024 as a spin-out from Macquarie University, the company develops conversational AI bots that engage scammers through voice calls and messaging apps like WhatsApp, Telegram, and SMS to divert, distract, and gather intelligence.

The funding will support product development, international expansion, and hiring new engineering and go-to-market teams.

Apate.ai recently partnered with CommBank to create AI-powered victim bots that waste scammers’ time and provide near real-time scam intelligence to protect customers and the community.

The startup also works with TPG Telecom and says its bots have diverted over 280,000 scam calls.

🔗 Source: Startup Daily

🧠 Food for thought

1️⃣ Australia’s scam losses have exploded nearly sixfold in seven years

The scale of Australia’s scam problem has grown dramatically, with losses jumping from $340 million in 2017 to over $2 billion in 202421.

This represents almost a sixfold increase over seven years, far outpacing population growth and demonstrating how scammers have successfully adapted their tactics to exploit digital channels.

The 2024 figure of 494,000 reported incidents shows the problem has become endemic, affecting roughly one in every 50 Australians annually1.

This acceleration aligns with global trends, where cybercrime costs are projected to reach $10.5 trillion annually by 2025, up from $3 trillion in 20153.

The rapid growth suggests traditional reactive approaches to scam prevention have struggled to keep pace with increasingly sophisticated criminal operations.

2️⃣ Cybersecurity investment surge creates opportunities for defensive AI solutions

Apate’s $2.5 million funding arrives during a significant uptick in cybersecurity investment, with sector funding rising 25% to $4.2 billion in Q2 2025 compared to the previous year4.

The startup’s approach of using AI bots to actively engage and waste scammers’ time represents a shift from passive defense to proactive disruption.