Our insatiable demand for digital content and services has been driving a rise in energy-hungry data centres. The International Energy Agency reports global data centre electricity consumption could double in a few short years, reaching 1,000 terawatt hours (TWh) by 2026. That’s roughly the same as generated by the whole of Japan per year. Some… Read more »
Climate startup Goterra is continuing to kick goals in industry collaborations, with the country’s largest hotel, the 878-room Hyatt Regency Sydney, installing the modular food waste management system onsite. It’s the second version of Goterra’s compact unit, which can also be found at Melbourne Airport, where fly larvae munch through more than two tonnes of… Read more »
Neither Canva nor Leonardo.AI or its backers wanted to talk about the dowry paid for their marriage, but documents from key investor Blackbird Ventures suggest the acquisition deal cost is north of $320 million. Details are beginning to emerge about what when down following the surprise announcement this week that the Sydney-based generative AI startup… Read more »
Atlassian has managed to treble its losses in fourth quarter of the 2024 fiscal year, at the same time revenue grew by 20%. The Nasdaq-listed (TEAM) Australian workplace software giant posted a US$196.9 million net loss for the quarter, up from a $59 million loss for the same period last year. Quarterly revenue hit US$1.132… Read more »
A little bit of Sydney is heading south with Tank Stream Labs, the coworking tech hub for startups, expanding into Melbourne. Tank Stream Labs CEO Bradley Delamare said that as the Victorian capital continues to go gangbusters with tech innovations and budding unicorn startups, a significant gap has emerged when it comes to CBD commercial… Read more »
The late David Graeber was an American professor of anthropology at the London School of Economics. His best-known writings challenged views in liberal economics about the origins of money, attempting to reconceive the historical relationship between debt and social institutions. He was also known for his political activism, notably as one of the original organisers… Read more »
The generative AI company many believed would become a tech unicorn is instead being acquired by one, with design platform Canva snapping up content and research startup, Leonardo.AI. The deal price and terms have not been disclosed, so it’s not not how much is cash and/or Canva shares ahead of its IPO plans, but it’s… Read more »
Melbourne marketing startup IntelligenceBank has landed its first M&A deal, acquiring rival AI-powered brand compliance platform Red Marker from global education giant Kaplan. The terms of the deal were not disclosed. IntelligenceBank will acquire Red Marker’s technology stack, IP, and team of 20 based in Sydney, the US and UK. It will give the combined… Read more »
Hospitality entrepreneur Stevan Premutico is stepping down from the board of me&u, the ordering platform he founded, and away from the business in the wake of its merger with Mr Yum. “I am immensely proud of what the team has achieved. We began with an ambitious idea to transform how we order and pay in… Read more »
Crowdfunding market leader Birchal has cut its costs base by 30%, along with several roles, after the first half of 2024 “significantly underperformed” the platform’s expectations. News of the job losses were first revealed by SmartCompany just 24 hours after Birchal set out to paint a positive picture for the sector in its annual review… Read more »
Computer systems across Australia and overseas have failed on Friday afternoon after an update was pushed out by global security software provider CrowdStrike. The software affected by the update appears to be the CrowdStrike Falcon platform, which is installed by businesses or other organisations on desktop computers and notebooks to provide security monitoring. What’s happening?… Read more »
International payments platform Airwallex has been granted an Australian Financial Services Licence (AFSL), allowing it to offer its high interest deposit account to retail users. While the fintech unicorn already had an ASFL for the past eight years for its existing payments and foreign exchange business, the new one means it can offer its high-interest… Read more »
Three years ago amid the BNPL goldrush, fintech Limepay was hoping to list on the ASX. It wasn’t to be for the white label buy-now-pay-later platform, founded in 2016, which billed itself as Australia’s first enterprise payments fintech. But Limepay, which rebranded in 2022 as April Solutions, will become a listed company after being swallowed… Read more »
Australia hands out the best part of A$1 billion per year in grants to businesses. Many of these come with no strings attached, meaning there is no need to evaluate whether the grants boost employment, help the recipients become more efficient, or benefit the nation. To test what good these grants do, my team at… Read more »
Shares in ASX-listed tech scaleup DroneShield have plunged for a second day in a row, falling another 20% to $1.61 by Wednesday lunchtime, following a 22% plummet on Tuesday amid a halt in trade. DroneShield (ASX: DRO) shares have been on tear over the last seven months, climbing from $0.31 cents in mid-December 2023, to… Read more »
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