Australian Small Business and Family Enterprise Ombudsman Kate Carnell has recommended a suite of reforms to how the beleaguered Research and Development Tax Incentive (R&DTI) in a report released yesterday. The program has caused alarm in the startup sector since the government announced changes to it in the 2018 Budget, looking to save $2.9… Read more »
Personal lender MoneyMe (ASX: MME) made a spectacular debut on the ASX on Thursday as the latest fintech to list in 2019. The Sydney app-based lender raised $45 million in its heavily over-subscribed IPO at $1.25 per share. The float gave the business a market capitalisation of $211.8 million and enterprise value of $175.3 million.… Read more »
It’s Thursday. And Redbubble’s probably looking forward to the weekend more than most. 1. Bubble bursts Just seven weeks ago, ASX-listed online marketplace Redbubble (ASX: RBL), which sells t-shirts, mugs and art by independent artists, was on a high, announcing a 37% revenue jump for Q1 FY20, and massive turnaround in its profitability on 12… Read more »
Nearmap CEO Dr Rob Newman. Sydney-based Nearmap has bought US technology startup Pushpin, a deep learning and analytics technology venture, to expand the services it offers with its aerial imagery. The cost of the deal was not disclosed by the ASX-listed geospatial mapping tech company, which operates in Australia, US and Canada. Pushpin extracts data from… Read more »
Image: Jurassic World, Universal Pictures/Amblin Entertainment The Morrison government’s response to the ACCC’s concerns about the market power of Google and Facebook include $27m to the competition watchdog to boost monitoring and enforcement against the tech giants A voluntary code of practice, overseen by the ACCC, to address bargaining power imbalances between the tech companies… Read more »
Hello Wednesday. 1. Cloud concern Surveys, for the most part, are how a company’s marketing department finds something to say when they have nothing to say, but when this analysis from British commercial property experts Savoystewart.co.uk landed, looking at how business thinks about cloud computing, it did have us going woah… It surveyed 6,000 professionals… Read more »
Accountancy software venture Xero has integrated accounts payable functions on its platform with Australia’s largest business bank in move the company is calling a game-changer. Australian businesses using Xero that have NAB internet banking will be able to instruct multiple bill payments at a time through Xero and approve their bill payments anytime, anywhere, directly… Read more »
A former Goldman Sachs banker is hoping to could change the lives of two billion of the world’s poorest people, subsistence farmers and fishers, with an app. Brisbane entrepreneur David Davies created the app as part of his philanthropic impact startup, AgUnity. He calls it a “last mile” solution for poverty-stricken communities, involving an affordable… Read more »
Entrepreneur Michael Fox, co-founder of Shoes of Prey, is back with a new venture producing vegetarian “pulled pork” and “beef brisket” made from shiitake mushrooms that’s captured the imagination of one of the world’s best chefs, Heston Blumenthal. Blumenthal, whose UK restaurant, The Fat Duck, was declared the world’s best, also has Dinner by Heston… Read more »
Emerging South Australian biotechnologies will be accelerated through a Chinese-backed AU$45 million investment fund aimed at commercialising health research for the global market. The Adelaide China Biotech Investment Fund is backed by a group of private investors based in Nanjing, China. The group is led by Mr An LuFan, Executive Director of D&R Pharmaceuticals, one… Read more »
Global cybersecurity startup Secure Code Warrior has raised US$48 million (AU$70m) in Series B funding in a round led by US investment bank Goldman Sachs. A number of US investors, including the investment arm of IT multinational Cisco and ForgePoint Capital also joined the round alongside existing backers AirTree Ventures and Paladin Capital Group, who… Read more »
SME business lender Tyro, has decided to build the other side of its ledger following its successful float on the ASX last Friday, announcing a pilot offering term deposits for Australian businesses. The fintech became the country’s newest unicorn when it listed (ASX: TYR) at $2.75 a share, giving it a market cap of more than… Read more »
“Babe, do you think they had Pelotons in Gilead?” Source: Peloton Hello Tuesday. At least we think it’s you. Hard to tell through the smoke haze. 1. Hit the road, Jack Twitter boss Jack Dorsey is off to live in Africa for six months next year, impressed by the region’s burgeoning startup community.… Read more »
Brothers Dr Aengus Tran, and Dimitry Tran (pictured), who only launched Harrison.ai, their artificial intelligence healthcare startup, last year, have landed $29 million on debut in one of 2019’s most impressive capital raises. The round was led by Blackbird Ventures, with Hong Kong billionaire Li Ka-shing’s VC firm Horizons Ventures joining in alongside Skip Capital,… Read more »
A new code for an old SaaS brand hits the ASX today when the ShareRoot (ASX:SRO) brand retires, replaced by Opyl Ltd (ASX:OPL). Melbourne-based Opyl uses AI-assisted tech to help biopharma and health organisations collect and analyse clinical health data and user-generated content, including from wearables, apps and social media, to better understand and improve healthcare… Read more »
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