The Labor government’s flagship National Reconstruction Fund is deploying 0.1% of its $15 billion war chest to fund a $20 million raise for 20-year-old Canberra cybersecurity firm QuintessenceLabs. The $15 million from the independent NRF comes as the government moves into caretaker mode ahead of a federal election on May 3. The National Reconstruction Fund… Read more »
Julie Trell believes play makes you a better founder. American-born Julie has been helping startup teams around the world build their imaginations and sense of adventure for decades as the founder of Playful Purpose. One way she does it is with “Yes…. and…” She gives Startup 360 host Simon Thomsen and Kayla Medica a simple… Read more »
Sydney online used car marketplace Carma has borrowed $30 million in a convertible note as it contemplates the possibility of an IPO. The funding round was led by ASX-listed Regal Funds Management and existing investor Tiger Global, with support from General Catalyst, Australian private equity manager Five V. Regal likes to invest in companies as… Read more »
A Sydney software company founded in 1999 by two former PwC executives to tackle governance, risk, and compliance (GRC) issues has sold a majority stake in the business to US investment firm PSG Equity for US$280 million (A$445m). The deal for Protecht gives an exit for California growth equity firm Arrowroot Capital after just three… Read more »
A quantum startup cofounded by three former PhD students just nine months ago has raised $2 million in a pre-Seed round to develop faster and cheaper fault-tolerant architectures for quantum computing. The raise for Iceberg Quantum was led by Blackbird, supported by UK-based LocalGlobe. CEO Dr Felix Thomsen cofounded the Sydney startup with Larry Cohen,… Read more »
Is the title “founder” this decade’s version of wanting to be a Masterchef or influencer? Startup 360 cohost Kayla Medica has a theory. “So many people now have glamourised being a founder, being an entrepreneur, that there’s a whole host of people who just start businesses with that in mind, and they’re not actually starting… Read more »
The founder of fintech PocketSmith believes ordinary Australians should be prioritised by the federal government through the Consumer Data Right (CDR) to address cost-of-living pressures. The call, by cofounder and CEO Jason Leong, follows a record 859 pre-Budget submissions to the Commonwealth Treasury, up from 789 last year, with more than a quarter highlighting the… Read more »
FinTech Australia is calling for an urgent recalibration of Research and Development tax incentives (RDTI) and the Early Stage Venture Capital Limited Partnership (ESVCLP) Program in its submission to treasurer Jim Chalmers ahead of the federal budget next week The peak body’s 21-page pre-Budget submission makes 11 recommendations to Treasury, arguing that with the right… Read more »
When do you know you’re CEO material? It’s the question Startup 360 host Simon Thomsen put to Majella Campbell, the newly appointed CEO of Fishburners, Australia’s pioneering startup coworking space. Majella talked about her mentor, Myles Baron-Hay, the former Sydney Swans CEO, saying “why not?” when she had her doubts. “When I was unsure about… Read more »
An 18-month-old robotics startup that emerged out of the UNSW Founders Defence 10X program in 2023, has raised $2 million in a pre-Seed round led by CSIRO-backed deep tech fund Main Sequence. The raise for Breaker will be used to triple its team over the next six months and further expand its presence in the… Read more »
A medication management, patient engagement, and analytics software startup for the pharmaceutical industry, has raised $17 million. The round for StrongRoom AI was led by the EVP Opportunities Fund, with support from existing investors Artesian Venture Partners and InterValley Ventures. The funding will be used for domestic and international expansion, and product innovation. The Melbourne… Read more »
The Victorian government is boosting its support for local startups with an additional $5.1 million in funding via LaunchVic. The grants include $1 million for the Wade Institute of Entrepreneurship to help early-stage investors develop expertise in critical skills such as due diligence, capital raising and portfolio management. A further $4.1 million (and up to… Read more »
Former Techstars Sydney MD Kirstin Hunter’s interim CEO role at Birchal has become a full-time gig, as she leads the crowdfunding platform into its 9th year of operation. Hunter stepped into an advisory role as CEO transition lead after cofounder Matt Vitale resigned as chief executive after eight years citing burn out. “While my resilience… Read more »
An eight-year-old workplace safety and wellbeing app founded by three former public servants and used by McDonald’s has raised another $40 million. Sydney scaleup Sonder pitches itself as an EAP alternative that makes it easier for staff to get help. The latest funding came from existing investors Blackbird, MA Growth Ventures. and Seek, with super… Read more »
An Australian-American cybersecurity startup has raised US$3 million (A$4.75m) in Seed funding to develop its artificial intelligence-driven defensive systems. The round for Harmony Intelligence was led by Airtree Ventures, alongside 30 strategic investors, including First Row Partners, Maxwell Capital, and execs from Canva, Adept AI, and Plaid as well as The Lean Startup author Eric… Read more »
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