More than 10 bids were submitted to the voluntary administrators of failed startup StrongRoom AI, hoping to snap up the value left in the business, despite it being mired in legal action over allegedly faked revenue figures and a VC investor wanting its $10 million back. Final offers for what remains of StrongRoom are due… Read more »
Creditors of Strong Room AI will get a chance to stare at the financial entrails of the drugs managements startup next week, when administrators for the business hold its first creditor’s meeting on April 8. A battle for whatever funds remain in the Melbourne startup, just weeks after it raised $17 million, will unfold in… Read more »
A UK investor with close ties to one of the defendants in legal action against besieged medtech startup StrongRoom AI has come out swinging against Sydney VC EVP, which is fighting to get its $10.4 million investment back. Aaron Michelin, a director of Tyson & Blake – named after founder Chris Tornblom’s dogs – has… Read more »
The NSW Innovation Blueprint finally dropped on Monday – 18 months after innovation, science and technology minister Anoulack Chanthivong first announced it in September 2023. And if you’re wondering if it was worth the wait, the feeling is ¯\_(ツ)_/¯ The Minns government needs to get cracking, and quickly. It has lost ground to make up… Read more »
Australian Super has sold holding in logistics software giant WiseTech Global in recent weeks as founder Richard White returned to the business as chairman. The superannuation fund had more than 2.2% of WiseTech (ASX: WTC) shares and had backed the business since its 2016 float. But governance concerns amid board resignations and White’s elevation to… 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 »
Some of America’s most profitable tech companies have seized on their chance to join US president Donald Trump’s global trade war arguing that laws and taxes in other nations are costing them money. Industry lobby group the Computer & Communications Industry Association (CCIA), which represents Amazon, Apple, Meta, Google and Elon Musk’s X, among others,… Read more »
Sydney investment firm Quadrant Private Equity has made another foray into startups, with plans to take an equity stake in Legal Vision. The size of the investment was not disclosed, but it’s the first from the Sydney PE firm’s latest and 10th fund, the $660m Quadrant Growth Fund 3, which looks to invest between $50… Read more »
While the Tesla CEO is busy rage-tweeting, Roman saluting, dialling into far-right German political rallies, cutting aid funding and sacking US government workers, sales of his car brand in Australia, as well as the rest of the world have gone over a cliff, with January’s poor results continuing in February. The plunge for Nasdaq-listed EV… Read more »
Three years after a record $2.2 million pre-Seed round for two teenagers to solve the problem of abandoned online sales, their eCommerce fintech has raised another $18 million in a Series A. The round for Brisbane startup Instant was led by Belgian early stage VC Hummingbird Ventures, which revels in the title “the best venture… Read more »
Wisetech Global’s former CEO, Richard White, finally has a new job at the logistics software company he founded 30 years ago – executive chairman. The appointment follows the resignation of former chair Richard Dammery and three other non-executive directors, Lisa Brock, Michael Malone and Fiona Pak-Poy, on Monday in a battle for control of the… Read more »
Sydney advertising and electric vehicle charging startup Jolt has eschewed VC funding for its latest global expansion, instead striking a $214 million (C$194m) loan agreement with the Canada Infrastructure Bank (CIB) to fast track its charging network across the top of North America. The funds will see Jolt install 1,500 fast and free kerbside chargers… Read more »
Federal authorities have finally given the green light for Gold Coast rocket builder Gilmour Space Technologies to launch Eris, the first Australian-designed and built rocket for orbit. The space tech startup said the weeks after March 15 are the window for its inaugural flight. The Civil Aviation Safety Authority (CASA) and Airservices Australia signed off on… Read more »
A week after Atlassian announced it would be lead sponsor of the Williams Racing Formula One team, ASX-listed Airtasker is slapping its name on the Visa Cash App Racing Bulls (VCARB) F1 team. It’s not that VCARB is going to be post “Wanted: someone to change 4 tyres in under 2 seconds” on the casual… Read more »
Brag Media cofounder and former CEO Luke Girgis has launched legal action in the NSW Supreme Court against the company that bought his business, ASX-listed Vinyl Group. The acquisition deal dates back to December 2023, when Vinyl (ASX: VNL) announced it would pay $8 million in cash to acquire 100% of The Brag Media and… Read more »
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