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 »
The NSW government is establishing a collaboration between leading Sydney universities and the CSIRO to improve the state’s sovereign semiconductor capability to support critical local industries including health, defence and telecommunications. The Semiconductor Sector Service Bureau (S3B) brings together leading experts from the University of Sydney, Macquarie University, UNSW Sydney, Australia’s national science agency CSIRO and the… Read more »
Monoova, Nano Digital Home Loans, BTC Markets, Wagestream, Tanggram, and Up are among the biggest winners of the seventh annual FinTech Australia Finnie Awards. For the first time in the awards’ history, no company won more than a single prize, with FinTech Australia CEO Rehan D’Almedia saying it demonstrated the growth of the sector in recent… Read more »
Australian quantum computing manufacturer, Silicon Quantum Computing (SQC), has developed the world’s first integrated circuit manufactured at the atomic scale. The circuit, which operates as an analogue quantum processor, has come less than a decade after SQC’s 2012 declaration that it had fabricated the world’s first single atom transistor and has been achieved two years… Read more »
A landmark decision by the NSW government disputes resolution body, the Personal Injury Commission, with see the family of a food delivery rider killed in a traffic accident in 2020 receive $830,000 in compensation after food company and its insurer accepted liability for his death. Xiaojun Chen, 43, died in September 2020 after his bike… Read more »
Rapid grocery delivery startup Voly has reportedly cut staff, abandoned its 15-minute delivery promise and closed warehouses, less than two months after the collapse of rival Send. The Sydney-based online supermarket is less than 12 months old and last December raised $18 million in a Seed round led by Sequoia Capital India, supported by Global… Read more »
Move over plant-based burgers, insect-based pet food is the new focus in reducing the use of animal proteins to feed the world, whether you have two legs or four. Sydney entrepreneur Shaun Eislers was previously a banker before launching his startup BuggyBix, a combination of climate and ag tech, using insects – black soldier fly lavae… Read more »
Andreessen Horowitz’s legendary US VC fund a16z, has led a US$6.75 million (A$9.76m) Seed raise into Australian women-led game studio Lumi Interactive. The oversubscribed round was also backed by 1Up Ventures, Galileo Ventures, Heracles and Double Loop Games founder Emily Greer. Lumi sees its mission as making the world a kinder place, and plans to… Read more »
Aspiring green hydrogen producer LINE Hydrogen has raised $1.38 million from crowdfunding as it looks to play its part in Australia’s renewable energy mix. The Tasmanian startup, alongside the Bell Bay Solar Farm, is hoping to become one of Australia’s first 100% renewable commercial-scale hydrogen producers and distributors, with production beginning in early 2023. LINE’s… Read more »
The NSW government is establishing a new $703 million investment fund to back fast-growing local companies in the medtech, digital tech and clean economy spaces. Treasurer Matt Kean announced the Future Economy Fund in Tuesday’s state budget as “a once-in-a-generation chance” aimed at the full life cycle of innovative, high-growth business in priority sectors and… Read more »
Local largest climate tech startup accelerator EnergyLab has signed a partnership deal with New Energy Nexus (NEX) to help Australian startups expand into overseas markets. The deal will see EnergyLabs embrace international startups keen to expand into the Australian market, as well as giving local ventures access to offshore customers, capital, and resources in regions such… Read more »
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