Animoca Brands, the digital entertainment, cryptocurrency metaverse and blockchain company thrown off the ASX in 2020, has been fined $50,000 following legal action by corporate regulator ASIC after it failed to lodge annual and half-yearly financial reports between 2019 and 2021. The company failed to appear before the Downing Centre Court on June 21 and… Read more »
The collapse of Volt is sending shockwaves through the fintech sector as startups closely connected to the neobank, such as Parpera, scramble to regroup. The fintech partnered with Volt for banking services, meaning its 500+ small business customers have lost banking, payments and cards functions until a new banking collaborator is found. In a post… Read more »
One of the world’s biggest tech, innovation, music, film and gaming festivals, South by Southwest (SXSW), is coming to Sydney next year. In a major coup for the NSW capital, the first international version of the famed annual event from Austin, Texas, will run October 15-22, 2023 in Sydney. SXSW Sydney will bring together some… Read more »
HealthMatch, a five-year-old medtech that’s like Tinder for clinical trials, matching researchers with patients, has been forced to halve its team, shedding 18 jobs, as the local tech sector braces for a long startup winter. The cuts come 18 months after Paul Bassat’s Square Peg Capital led an $18 million round in the Sydney-based startup, which… Read more »
Neobank Volt has become a victim of tightening investment market announcing it will shut down after struggling to raise capital. The online-only retail bank was the first challenger brand to receive a new banking licence in 2019. A statement posted on its website today announced it is closings all deposit accounts and will hand its… Read more »
Australia’s nascent climate tech sector is already worth $4.2 billion and could deliver more than 2,000 new jobs in next 12 months, according to a landmark new report by Climate Salad. ANZ Climate Tech Industry Report, which surveyed nearly 171 climate-focused startups in Australian and New Zealand paints a picture of an industry that’s just… Read more »
With fans heading back to sports arenas to watch live concerts and games, tech startup Snackr has raised $915,000 in Seed funding for its in-seat ordering system. The round was led by RAC-backed venture fund BetterLabs, joined by Woodside Energy Technologies, Eastcourt Capital and Spacecubed Ventures. Snackr CEO Matt Lim said the mobile ordering startup’s… Read more »
Arcanite, an off-the-plan sales management software solution, has set out to transform the way off-the-plan developments are sold using virtual reality and is now looking to help people crack into the property market. The proptech helps property developers and real estate agents simplify the management of their sales channels and projects, rapidly growing their networks… Read more »
Melbourne family investment firm Victor Smorgon Group (VSG) has pioneered another digital transaction using the ANZ bank’s stablecoin, A$DC, this time buying carbon credits. VSG used A$DC to purchase the BCAU carbon tokens from Zerocap, an Australian crypto asset investment platform, via BetaCarbon, which tokenises Australian Carbon Credit Units (ACCUs) into digital tokens, with each representing… Read more »
Milkrun, the cashed-up market leader of three local fast delivery grocery services launched last year, is trimming its operations and hunting for more funds amid a broader economic downturn. The 10-month-old Sydney startup will cut overtime, reduce the use of casual employees and hopes that alcohol sales will boost margins and turn around ongoing losses.… Read more »
Melbourne cryptocurrency startup Banxa is shedding 30% of its staff amid the current digital assets crash and a plunging share price. The fintech, founded in 2014 and listed in Canada on the Toronto Stock Exchange’s Venture Exchange in January 2021 (TSXV:BNXA). Banxa claims to be “one of the fastest growing fiat (cash) to Web3 solutions… Read more »
Government-owned Breakthrough Victoria is tipping $100 million in pre-seed funding into startups at the state’s universities looking to commercialise research. Premier Dan Andrews and treasurer Tim Pallas set up the $2 billion Breakthrough Victoria fund, chaired by former premier John Bracks, as an independent investment fund manager investing in commercial innovations in health, technology, manufacturing,… Read more »
Computer vision software startup Black.ai has raised $5.4 million in a Seed+ round. It was led by Jelix Ventures, with support from Right Click Capital and several angel investors. The six-year-old business has now raised $8.55 million and will use the funds to double its local headcount, expands its industry reach, and build out its… Read more »
Sydney and Melbourne are the nation’s top two cities for startup and those ecosystems have have plenty going for them hubs. But as last week’s Startup Genome report revealed, Australia is also building strong alternative hubs outside the main capitals in cities where property is more affordable, the lifestyle is easier and talented tech people… Read more »
Digital news channel The Daily Aus, which has pioneered a social media-first approach to current affairs for younger Australians, has raised $1.2 million in Seed funding. The round was led by media former Nine CEO David Gyngell, supported by Canva executives Zach Kitschke and Rob Kawalsky, as well as festival the Untitled Group. The backing from… Read more »
Daily startup news and insights, delivered to your inbox.
