money tree
Business

StrongRoom sells for $3 million – and now the games begin

- June 13, 2025 4 MIN READ

StrongRoom AI will live on under new management with Queensland pharmacy entrepreneur Joe Zhou acquiring the Melbourne healthtech startup from the administrators in a deal finalised late on Thursday. The sale follows a last minute battle for control of the business last week when an early investor, InterValley, and one of the company’s cofounders, make… Read more »

AI/Machine Learning

StrongRoom will be wound up as EVP names the startup’s early investors as defendants in expanded legal action to recover $10.4 million

- June 6, 2025 5 MIN READ

EVP has added 20 more defendants, including earlier VC investors – taking the total to 32 – in its legal action to recover $10.4 million invested in StrongRoom AI. EVP has a freezing order over the company’s assets and during a case management hearing on Wednesday added the company’s other early investors, including Artesian Ventures,… Read more »

Business

Just a fortnight after raising $17 million, medicines management startup Strongroom AI is in receivership

- March 28, 2025 2 MIN READ

Financiers for Melbourne startup Strongroom AI have forced the company into administration, amid concerns about the company’s accounts. The move comes after the lead investor, EVP called in police on Monday after asking for its money back following a $17 million raise in early March. The request was declined by StrongRoom. On Friday morning, new… Read more »

Brosa cofounders Richard Li and Ivan Lim.
Business

Furniture startup Brosa to fold leaving customers $5 million out of pocket

- January 24, 2023 3 MIN READ

Venture capital investors aren’t the only ones burnt by the collapse of upmarket furniture retailer Brosa, with customers left around $5 million out of pocket on products they paid for but didn’t get, a report on the startup’s finances by administrators, KordaMentha, reveals. Brosa was placed in Voluntary Administration on December 14 with assets of… Read more »