Rapid grocery delivery startup Voly appears to have ceased deliveries on Friday evening, with users on the app receiving a message saying the business is “closed until further notice”. “Our hours are: Mon-Sun Closed” the app said when Startup Daily attempted to place an order. Earlier this week the company reportedly cut staffing for the… Read more »
ASX-listed accounting platform Xero has more than doubled its net loss on the previous year to the chagrin of investors who wiped more than $1 billion from the company’s valuation following the announcement and news that CEO Steve Vamos is stepping down after nearly five years at the helm. The New Zealand tech company’s half… Read more »
A software platform to help product managers align goals across the board has raised $2.3 million in Seed funding. The round for Sauce was led by Blackbird, and supported by Airtree Ventures , alongside product leaders in several local tech companies including SafetyCulture, Eucalyptus, Respondent, Minnow, EarlyWork, Archangel and UltraViolet Ventures. Sauce was cofounded by… Read more »
The Australian arms of crumbling cryptocurrency empire FTX have been placed in voluntary administration. Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring took over as administrators of the Sydney-based cryptocurrency businesses FTX Australia Pty Ltd and subsidiary FTX Express Pty Ltd on Friday following a board meeting earlier today that decided to place… Read more »
Australia’s three largest internet service providers, Telstra, Optus and TPG have copped Federal Court penalties totalling $33.5 million after they all admitted to making false or misleading claims about their NBN plans. Telstra was ordered to pay $15 million, Optus $13.5 million, and TPG $5 million for breaching the Australian Consumer Law (ACL) in relation… Read more »
Hospitality sector online ordering platform Ordermentum has revealed that it raised $6.2 million in capital in July. Backers in the company’s latest raise include NIB Holdings chair and existing backer David Gordon, plus EVP partner Damon Pezaro. Existing investors include SEEK co-founder Matt Rockman, Pocketbook founder Bosco Tan and Pure Asset Management Ordermentum was cofounded… Read more »
Renewable energy software platform Orkestra has raised $1.1 million in a Seed round to support large power companies roll out new projects. The raise was led by local seed stage VC Tidal Ventures with support from angel investors with links to the energy industry. The capital is will be used to expand Okestra’s team and… Read more »
More than a third of Australian knowledge industry workers are putting in extra time into their job outside of office hours, predominantly due to additional workload, but also because around 1-in-6 bosses have asked them to. A new report, Reset, Restore, Reframe – Enabling Wellbeing through Flexible Working, from Swinburne Edge and Deloitte, reveals that… Read more »
As red ink goes for tech companies, SafetyCulture did ok last financial year, posting a cash loss of $35.5 million in the 2022 financial year, up around 50% on FY21’s $23 million loss. Last week Nasdaq-listed Atlassian revealed its results – a A$52 million operating loss for the September quarter. ASX-listed BNPL Zip Co posted… Read more »
Queensland agtech startup DataFarming has raised $500,000 in a pre-Series A round led by Sydney VC Investible. Cofounded in 2017 by serial entrepreneurs Tim and Peta Neale, DataFarming help unlock the value of farm data for agronomists and farmers. The business services more than 120,000 paddocks across 28,000 farming enterprises – 40% market penetration in… Read more »
Online fraud prevention startup Darwinium has raised US$10 million (A$15.6m) in a Seed round led by local VCs Blackbird and Airtree. The US-based customer protection platform was founded by Bondi entrepreneur Alisdair Faulkner, cofounder of cybersecurity startup ThreatMetrix, which sold in 2018 for more than A$1.2 billion (US$817m). Joining him at Darwinium is former ThreatMetrix… Read more »
Advertising platform Zitcha has raised $4.7 million in Seed funding in a round led by local VC OIF Ventures. The software platform lets retailers sell advertising space to suppliers to market directly to their customers. It automates marketing purchases by retail brands on retailer channels such as email, apps, digital in-store screens, websites and social… Read more »
Early stage investment company Antler Australia recently backed 13 startups as part of its ongoing program to build great local tech companies. Startup Daily has shared the details of each venture in the “Antler Investor Memos” series and today it’s the final profile of those ventures. This series is designed to give you a quick, sharp… Read more »
The NSW Government has upped its total compensation package to taxi licence holders for the rideshare’s introduction by $260 million to total $905 million. A media release from outgoing Transport minister David Elliott, who will depart politics at the March 2023 election, bragged that the compensation was more than double the Victorian Government package and… Read more »
Twitter Australia’s entire news curation team is among the thousands of staff who lost their jobs after billionaire Elon Musk sacked half the workforce a week after his US$44 billion private takeover. The local Twitter team is less than 50 people, but around 20% of them worked in the news curation team. The job losses… Read more »
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