Billionaire Richard White topped up his bank account in the December quarter, selling more than $440 million worth of shares in WiseTech, the logistics software company he founded 30 years ago. The sale represents less than 1.5% of his holding in WiseTech (ASX: WTC). White sold 3,564,742 shares across 31 days of on-market trading between… Read more »
In October last year, the world’s richest conspiracy theorist, Elon Musk, announced plans for a robotaxi, the Tesla Cybercab. Production would begin he said “in 2026”, before correcting himself to “before 2027”, because “I tend to be a little optimistic with timeframes”. That observation is an understatement inversely proportional to Musk’s wealth. So it wasn’t… Read more »
Matt Vitale, the CEO and cofounder of Birchal, has stepped down from his leadership role and away from the business, saying he was “a bit broken” after eight years of building the pioneering crowdfunding platform. Techstars boss Kirstin Hunter will take on an advisory role as CEO transition lead in the interim, Birchal chair Adam… Read more »
The National Reconstruction Fund Corporation (NRFC) has gone into Christmas shopping mode, investing nearly $50 million in two days in two tech companies, today announcing $22.5 million for 12-year-old sovereign cloud data security company Vault Cloud. The equity investment comes just 24 hours after leading a $50 million raise for Adelaide IoT and satellite maker… Read more »
The federal government’s $15 billion National Reconstruction Fund has made its third investment, tipping $25 million to lead a $50 million raise by Internet of Things (IoT) satellite builder Myriota. It’s the first raise in four years by the Adelaide space tech startup since former PM Malcolm Turnbull was among the backers of a $28 million… Read more »
A consortium of 21 startups, space and manufacturing companies, mining giant BHP and several universities will collaborate in a project to put an Australian-made rover on the Moon. The ELO2 Consortium, co-led by EPE Oceania and Lunar Outpost Oceania, is part of NASA’s Artemis Moon exploration program. The group has been charged with a $42… Read more »
Facebook’s parent company, Meta, has struck a $50 million deal with the Australian Information Commissioner to settle a Federal Court case over privacy breach involving the Cambridge Analytica political scandal. While it’s the second largest settlement struck by Meta over the matter, its a fraction of the US$725 million (A$1.14bn) the tech giant paid to… Read more »
The federal government will develop an artificial intelligence (AI) capabilities plan for Australia to figure out what support is needed and how it can be used to bolster the economy. Industry and science minister Ed Husic announced on Monday that his department will consult with industry to develop a National AI Capability Plan. The final… Read more »
A month after making its ASX debut in a reverse takeover, startup investor, advisor and accelerator Scalare Partners has seen its share price slide 28%, wiping around $6.5 million from its market capitalisation. As tech listings go, it’s been a less than auspicious start as a public company for Scalare (ASX: SCP), which bills itself… Read more »
The Sydney Startup Hub above Wynyard Station in the heart of the CBD will be relocated to an undetermined site somewhere across the six square kilometres around Central Station known as Tech Central by the NSW government in October next year. In a rare announcement involving tech and startups from NSW innovation, science and technology… Read more »
The company running the Kraken crypto exchange in Australia has been handed an $8 million penalty by the Federal Court for unlawfully issuing a credit facility to more than 1100 customers. The fine follows legal action by the corporate regulator ASIC against Bit Trade Pty Ltd, launched in September last year, over its ‘margin extension’… Read more »
South Australian startup Fleet Space Technologies has raised $150 million in a Series D that values the satellite developer and data analytics platform at more than $800 million. The round was led by Canada’s Teachers’ Venture Growth, the VC arm of Ontario Teachers’ Pension Plan. Existing investors Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners,… Read more »
ASX-listed music and media company Vinyl Group is broadening its publishing portfolio yet again, acquiring the city guides site Concrete Playground in a deal worth $5 million. Vinyl (ASX: VNL) has signed binding Heads of Agreement to acquire the 15-year-old digital lifestyle brand for $3.5 million in cash and $1.5 million in Vinyl shares, with… Read more »
A demonstrations of the power of equity crowdfunding (CSF), market leader Birchal is a testimonial for its own platform with more than 800 investors pouring $2 million into the company’s own raise in just 29 hours. While it doesn’t beat the 63 minutes it took Birchal to raise $3 million in 2022, it’s still the… Read more »
A fintech that set out to streamline funds management in the private credit and real estate sectors has raised $3.2 million from strategic investor and customer Balmain. The unit registry and fund administration software startup was founded in 2023, and last year Caruso raised $3 million, led by VC Icehouse Ventures, with support from GD1,… Read more »
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