Woolworths-backed venture capital fund W23 Global, Westpac’s Reinventure and a Nasdaq-listed weapons company are the lead investors in a $72.6 million funding round for controversial retail crime intelligence software maker Auror, which values it at more than $500 million.

Auror’s software is used by more than half of Australia’s retailers to track and share details of criminals operating in stores including Bunnings, Coles, Myer and Woolworths. Australia’s Information Commissioner announced an investigation into privacy concerns related to data sharing with police earlier this year, but ultimately decided not to pursue it.