road kill, wombat
ASX

ASX-listed BNPL Openpay handed to receivers just a week after ‘record’ results after failing to secure working capital

- February 6, 2023 3 MIN READ

ASX-listed Buy-now-pay-later (BNPL) fintech Openpay has been placed in the hands of receivers after it failed to bank working capital from its key funder. The payments platform has been shut down, effectively sealing the company’s fate. The collapse comes a week after the company’s quarterly results on January 31, which flagged delays in receiving the… Read more »

Atlassian, Mike Cannon-Brookes, Scott Farquhar.
Business

Atlassian shares plunge after another quarterly loss

- February 3, 2023 3 MIN READ

Nasdaq-listed Australian software giant Atlassian has seen its shares fall more than 10% in after hours trade following the release of its December quarter results, which posted a US$99.2 million loss. The loss compares to a rare profit of $23 million 12 months earlier. Now in its 21st year of operations, Atlassian has yet to… Read more »

AI/Machine Learning

We asked ChatGPT to explain 9 epic startup failures, including FTX & Fast, to VC investors – and most of the answers are bullshi… er, bullish

- February 2, 2023 10 MIN READ

US investor and Y Combinator cofounder Paul Graham is one of the many fans of OpenAI’s new chatbot, ChatGPT. The striking thing about the reaction to ChatGPT is not just the number of people who are blown away by it, but who they are. These are not people who get excited by every shiny new… Read more »

x
Funding

Quantum startup Q-CTRL lands $39 million in Series B top up led by Salesforce Ventures

- February 1, 2023 3 MIN READ

Salesforce Ventures becomes new investor Wallabies legend John Eales also backed Q-CTRL A record A$74m was raised in the Series B Sydney quantum software startup Q–CTRL has raised US$27.4 million (A$39m) in an extension of its Series B Several new investors joined Q–CTRL’s cap table, including Salesforce Ventures, the VC arm of the US software… Read more »

Dr Michele Allan
People

Charles Sturt Uni chancellor Dr Michele Allan takes over as SmartSat CRC chair

- January 31, 2023 2 MIN READ

Agribusiness expert and serial board member Dr Michele Allan has stepped up as chair of Australia’s leading space research centre, SmartSat Cooperative Research Centre (CRC), following the sudden passing of inaugural chair Dr Peter Woodgate on Christmas eve. Dr Allan, chancellor and board chair of Charles Sturt University, also chairs the Food and Agribusiness Growth… Read more »

car broken down, EV, roadside assistance
Motoring

The NRMA is coming to the rescue of flat EVs as the NSW govt opens its latest incentive program for electric commercial fleets

- January 31, 2023 2 MIN READ

NSW motoring mutual the NRMA has helped motorists with flat car batteries for a century and now it’s coming to the rescue of the next generation with roadside assistance for electric vehicles with flat batteries, putting patrol vans on the road with recharging battery packs. It’s baby steps for now, but a start. Just two… Read more »

Tin Alley ventures
Venture Capital

Melbourne Uni’s new VC fund, Tin Alley Ventures, sets $200 million target after reaching $100m

- January 31, 2023 2 MIN READ

University of Melbourne’s new startup venture capital fund Tin Alley Venture has raised $100 million from a who’s who of the Victorian business establishment to back alumni founders. The uni chipped in $25 million to kick off the fund, a joint venture with John Wiley’s Tanarra Capital, in June last year. Seven months later, the… Read more »

Milkrun
Funding

Milkrun, the last local grocery delivery standing, is still trying to find fresh capital after raising $75 million

- January 27, 2023 3 MIN READ

Rapid grocery delivery service Milkrun tried to raise additional cash twice in 2022, despite starting the year with $75 million from Tiger Global in a Series A last January, but couldn’t attract investors amid the financial failure of its rivals. The Australian reports that the Sydney startup touted its Series B pitch deck to potential backers… Read more »

Andrew Barnes
Business

Queensland edtech unicorn Go1 gobbles up UK rival Anders Pink

- January 26, 2023 2 MIN READ

Brisbane workplace learning platform Go1 has acquired five-year-old rival British content curation startup Anders Pink. The deal went through late last year for an undisclosed sum amid as part of Go1’s push into the European market after also acquiring Swiss-French edtech Coorpacademy, which delivers French and German language content. It was a busy year for… Read more »

Australian Open, Rod Laver Arena
Accelerator

AO Startups serves up 5 companies for its Australian Open accelerator program

- January 25, 2023 4 MIN READ

Tennis Australia’s AO Startups program has announced five of the seven startup involved in its pioneering new accelerator program. The startups were chosen from among 165 applications to the program, which is designed to help early-stage companies pilot cutting-edge technologies at the Australian Open (AO) and tennis more broadly. Tennis Australia Head of Innovation Dr Machar Reid said… Read more »