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Global tech

Australia’s High Court says Google is not a publisher in landmark defamation decision

- August 17, 2022 2 MIN READ

Global search giant Google is not responsible as a publisher for serving up links to defamatory material, Australia’s High Court has ruled. The landmark decision overturns exisiting rulings by the Victorian Supreme Court and its Court of Appeal involving a $40,000 damages award against Google to Melbourne lawyer George Defteros for a hyperlink to an… Read more »

Venture Capital

3 angel investing groups just scored $900,000 in Victorian government grants

- August 17, 2022 2 MIN READ

The Victorian government has handed out $900,000 in grants to three new angel investor networks to back early-stage startups. Innovation, medical research and digital economy minister Jaala Pulford said Cut Through Angels, Climate Angel Network and Playbook Angel Network, each will receive $300,000. The grants will help the angel groups to establish operations in Victoria and… Read more »

After Hours

Melbourne meal startup South Yarra Deli goes national

- August 17, 2022 2 MIN READ

The hospitality sector was among the hardest hit during the pandemic lockdowns, leading multiple restaurants to turn to takeaway and other options to survive. And while many have now refocused on getting diners back in their front doors, a Covid pivot to eat-and-serve meals by the team behind the Botanical Hotel in Melbourne’s South Yarra… Read more »

Social Media

Competition watchdog the ACCC is turning its attention to how companies use social media

- August 16, 2022 2 MIN READ

The ACCC’s Digital Platforms Services Inquiry will dive into competition for social media services in Australia as part of the sixth interim report of the regulator’s five-year Digital Platform Services Inquiry. The competition watchdog will also look at consumer issues, such as the way that businesses use social media advertising services, including paid influencers. An… Read more »

Business

US investment giant BlackRock makes a $1 billion battery play in Australia, acquiring Melbourne startup Akaysha Energy

- August 16, 2022 2 MIN READ

US investment firm BlackRock is acquiring local battery storage developer Akaysha Energy as part of a deal to spend A$1 billion to develop 1GW (Gigawatt) worth of storage feeding into the National Electricity Market (NEM) in Australia. For perspective, that’s more than the power produced by Australia’s largest coal-fired power station, Origin Energy’s Eraring plant (2,880MW),… Read more »

Funding

Consumer data startup raises $7.5 million in Series A

- August 15, 2022 2 MIN READ

Queensland consumer data right startup Biza.io has raised $7.5 million in a Series A. The round led by OIF Ventures and Jelix Ventures in the first raise for the Brisbane fintech after five years of bootstrapping. Biza helps banks, financial institutions, energy retailers and others in the CDR space with Software-as-a-Service solutions for both data… Read more »

Venture Capital

Twiggy Forrest is backing biotech with a new $250 million VC fund

- August 15, 2022 2 MIN READ

WA mining billionaire Andrew Forrest has turned his investment attention to the health tech sector, with a new $250 million venture capital fund. The VC, Tenmile, is being backed by Tattarang, the Fortescue Metal Group founder’s private investment company. Tenmile will target startups focused on unmet medical needs that support sustainable and equitable healthcare, offering seed… Read more »

Global tech

Google smacked with $60 million for misleading Australian users over Android phone tracking

- August 15, 2022 2 MIN READ

Tech giant Google has been hit with $60 million in penalties by Australia’s Federal Court for for making misleading representations to consumers about the collection and use of their personal location data on Android phones. The fine resulted from legal action by consumer watchdog the ACCC, which took Google to court in October 2019 over… Read more »

Other

ASX-listed iSelect throws in the towel, selling to rival in takeover priced at a 15% of its IPO market cap

- August 11, 2022 2 MIN READ

Nine years after it listed on the ASX as one of the 2013’s biggest floats, the board of comparison website iSelect has agreed to sell the business to rival Innovation Holdings Australia (IHA), owner of Compare the Market, in a deal that values the business at $72 million. Startup investor Thorney Investment Group, which has… Read more »