Street Talk

Eucalyptus targets unicorn status in new $150m funding round

Sarah Thompson, Kanika Sood and Emma Rapaport

May 28, 2025 – 4.49pm

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Eucalyptus has long been one of the country’s buzziest start-ups thanks to its outspoken chief executive and its business model at the forefront of mass marketing hot weight-loss medications like Ozempic.

With its latest funding round, it’s likely to add new descriptor: unicorn.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.