Applications for Bupa’s 2024 eco-Disruptive program, which is open to start-ups in Australia, New Zealand and Hong Kong, close next Monday, September 2. The program gives selected startups with £25,000 (A$49,000) in initial funding and then £200,000 (A$390,000) if they win Bupa’s global eco-Disruptive competition. That’s been done by Australian startup already – in 2022, Cassava… Read more »
Data analysis startup WhyHive has raised $600,000 in a pre-Seed round. The company’s first raise comes after six years of bootstrapping and was led by Skalata Ventures, with support from Culture Amp’s Jon Williams, Linktree’s Alex Zaccaria and Up Bank’s Dom Pym. The Melbourne startup describes itself as “like Canva, but for data: easy to… Read more »
Brisbane battery company Redflow has been placed in voluntary administration and its shares suspended from trade just weeks after unveiling plans for a 5 MWh project with Queensland’s energy generators, Stanwell Corporation. Richard Hughes and David Orr from Deloitte were appointed voluntary administrators of Redflow and three subsidiaries by its board on Friday, not long… Read more »
Indian venture fund Peak XV Partners (formerly Sequoia Capital India) has backed fintech Shift in a $35 million Series D. The VC previously led Shift’s $27 million C in February 2023 before its rebrand to Peak XV. Several existing shareholders were also part of the Series D equity round. The decade-0ld Sydney fintech provides offers… Read more »
Retail giant Woolworths is obviously impressed with the products rolling out of food and drink startup incubator, Seedlab Australia, tipping another $7 million into the project. Woolies previously invested $4 million in Seedlab when it kicked off in 2021, supporting nearly 400 businesses develop new products over that time. Seedlab Australia CEO and cofounder Dr Hazel… Read more »
A margin trading product offered by cryptocurrency exchange Kraken failed to meet its legal obligations under Australia’s Corporations Act, a Federal Court judge has ruled. The judgment hands a rare win to corporate regulator the Australian Securities and Investment Commission (ASIC) amid an ongoing focus on regulatory compliance in the crypto sector. Justice John Nicholas… Read more »
Early-stage and climate tech VC Investible has appointed Charlie Ill as its new CEO in the wake of Rod Bristow stepping down after four years. Ill became the fund’s first first chief investment officer in early 2023 as the Sydney-based VC ramped up its focus on backing startups across the Asia-Pacific region. He has more… Read more »
The office of the Australian Information Commissioner announced this week it would be taking no further action against facial recognition company Clearview AI. This marked a significant victory for one of the most controversial technology companies in the world. In 2021, Australia’s privacy regulator ruled Clearview AI broke privacy laws for scraping millions of photographs… Read more »
Shared mobility giant Uber is killing off Uber Carshare, its global experiment in hiring neighbour vehicles, after less than three years. The service will shut down in Australia in three weeks on September 12, while the US and Canada will close on 9/11. The experiment began in January 2022, when Uber paid $105 million to… Read more »
Shares in logistics software company WiseTech Global are on a fresh tear today, setting new records following the company’s FY2024 annual results on Wednesday. Founder and CEO Richard White is already a billionaire thanks to the success of Sydney-based WiseTech, which the former AC/DC guitar technician launched in 1994 by writing code for Australian freight… Read more »
Australia’s first dedicated pre-seed venture fund, Maxine Minter’s Co Ventures, has closed its first fund after hitting its $5 million target. Co Ventures Fund 1 is the result of nearly two years of work by Minter, who started fundraising in September 2022, before announcing the launch of her fund in April 2023. The support from… Read more »
The annual Australian Renewable Energy Agency (ARENA) Renewables Startup Showcase will return to Sydney in November and the hunt is now on for startups looking for investment to take part. Innovation Bay, the membership community for technology founders and investors, is collaborating with ARENA for the fifth year of the event, on Thursday, November 21.… Read more »
The wildly ambitious SunCable renewable energy project, which plans to build Australia biggest solar farm in the Northern Territory, has been approved by the federal government. Officially known as the SunCable Australia-Asia PowerLink (AAPowerLink), the 12,000 hectare solar farm – that’s 3000x the MCG precinct – will be built on a pastoral station between Elliot… Read more »
Sydney software proptech Sitemate has acquired fellow Startmate alumni software startup Nomad Fleet in a deal worth $2 million. Surprisingly, it’s the first time in Startmate’s 13-year history that two of the 250 startup to emerge from the accelerator program have teamed up in an M&A deal. Both Sitemate cofounder Hartley Pike and Nomad founder Will… Read more »
Andrew Barnes, cofounder Brisbane workplace learning platform Go1, is following in the footsteps of Atlassian’s Scott Farquhar and relinquishing the co-CEO role at the $3 billion business. Barnes has shared the role with cofounder Chris Eigeland since 2021 and spent nearly a decade as CEO since founding the edtech unicorn in a Brisbane garage with… Read more »
Daily startup news and insights, delivered to your inbox.
