The “global first” of $5 a litre “raw” milk has not been the innovation goldmine the founders of diary tech startup Made by Cow had hoped, with the business placed in voluntary administration last week and closing its doors. The Sydney startup developed a patented method to treat milk so it was safe to drink… Read more »
Australia’s roll out of open banking under the consumer data right (CDR) is stalling ahead of the third anniversary of its introduction, with industry lobby groups and the fintech sector calling on the federal government to put in place a long sought-after roadmap for CDR implementation. FinTech Australia and the Financial Data and Technology Association… Read more »
ASX-listed tradesperson platform Hipages Group has conceded to regulator the Australian Competition and Consumer Commission (ACCC) that it potentially engaged in misleading or deceptive conduct over four years involving its subscription renewals and termination fees. The ACCC said the company’s actions were in breach of the Australian Consumer Law between October 2018 to January 2022… Read more »
Victorian alcohol delivery startup Hairydog Group has added rival BoozeBud to its portfolio, acquiring the company’s assets a month after the business was placed in administration. The terms of the deal were not disclosed by Hairydog says the acquisition will push its annual revenue above $75 million, delivering incremental profitability and reinforcing its position as… Read more »
New Zealand digital teaching aid Education Perfect has acquired a bootstrapped Victorian edtech assessment platform Essential Assessment in a deal believed to be worth $40 million Education Perfect (EP) saw global equity giant KKR take a majority stake in the business two years ago in a deal worth more than $400 million. The terms of… Read more »
Enterprise software startup Complexica has raised $6.5 million in a round backed by Acorn Capital. The nine-year-old Adelaide tech company has now taken on $31 million in external capital over the last two years as it ramps up the use of artificial intelligence and machine learning in software for optimising and automating sales, marketing, and… Read more »
Edtech Cleverbean has raised $200,000 in Seed funding from Victorian early-stage investor Skalata Ventures to help reduce teacher burnout, at a time when a record number are leaving the profession. The startup offers thousands of evidence-based and research-backed learning materials for the K-6 Australian English curriculum. Cleverbean was cofounded Lucy Chambers, a teacher, and Alina… Read more »
Early stage investment company Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup Daily is sharing the details of each venture in the “Antler Investor Memos” series, which is designed to give you a quick, sharp understanding of the startups and people… Read more »
The battle for control of failed renewable energy startup Sun Cable between billionaires Mike Cannon-Brookes and Andrew Forrest has been won by the Atlassian cofounder. Sun Cable’s voluntary administrators FTI Consulting, announced on Friday afternoon that they’d entered into an asset sale agreement (“ASA”) with Helietta Holdings 1 Pty Ltd, an entity affiliated with Grok… Read more »
Paris Hilton and electronica duo The Chainsmokers have been added to the A-lister cap table of LA-based expat Australian startup Checkmate, which has raised US$15 million (A$23m) in a Series A. The round was led by GV (formerly Google Ventures), with support from DJ duo Alex Pall and Drew Taggart’s VC fund Mantis, plus several… Read more »
While startup funding globally fell last year, New Zealand venture capital investment was still on the rise, with NZ$726 million poured into 154 deals in 2022, according to the Technology Investment Network (TIN). The Technology Investment Report, launched in Auckland as part of Techweek 2023, covers funding Pre-Seed to Series C+, tracking record levels of funding… Read more »
The NSW startup sector has responded with dismay after the NSW government suddenly shut down a range of funding programs for early-stage companies in the wake of an expenditure review by the new Labor government. Popular programs such as the Minimum Viable Product (MVP) grant have been put on hold “as part of the sector-wide… Read more »
When rapid grocery delivery service Milkrun shut down suddenly last month, many acknowledged the impact that startup had on improving a moribund sector dominated by lethargic supermarket giants. Founder Dany Milham said at the time “I believe the impact that the Milkrun team had on the industry will be long lasting”. The startup certainly had… Read more »
Local sportstech is now worth as much as the fintech startup sector, with more than 750 companies involved, according to new analysis from the Australian Sports Technologies Network (ASTN). Releasing its second annual Sports Innovation Report for 2023, ASTN put the value of sportstech at $4.25 billion as the sector begins to ramp up for the… Read more »
Fleet Space Technologies has raised $50 million in a Series C round that values the South Australian satellite startup at more than $350 million. The round was led by existing backers Blackbird, with support from Atlassian cofounder Mike Cannon-Brookes’ Grok Ventures, Alumni Ventures and super fund Hostplus. New to the cap table are TelstraSuper, former… Read more »
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