Having a femtech startup called Femtek is too generic for Australia’s intellectual property tsars, so founder Olivia Orchowski has turned to Norse mythology for inspiration, rebranding as Kyri. In true Australia fashion, it’s a shortening of Valkyrie, the warrior women sent to choose who, among the fallen in battle, would enter Vahalla, Norse heaven. Orchowski… Read more »
The Australian Securities and Investment Commission (ASIC) has intervened on plans for a back door ASX listing by tech accelerator and investor Scalare Partners, concerned that the proposal doesn’t comply with disclosure laws. Scalare announced back in May that it would go public in a reverse takeover of confectionery maker Candy Club Holdings (ASX: CLB).… Read more »
The fight for venture capital in Australia isn’t just between local startups – they’re also increasingly competing with international founders for investor attention according to a new report from Asialink Business and the Tech Council of Australia (TCA). The Building the Australia-Asia Tech Corridor report explores the vital connections between Australia’s and Asia’s tech ecosystems… Read more »
The annual Startup Muster survey has extended its response deadline until this Monday, September 9. Already more than 150,000 questions have been answered in the free, independent report, which shines a light on the progress of Australian startups, as well as the challenges and opportunities they face. UTS Startups director of entrepreneurship Murray Hurps, the driving… Read more »
Eight-year-old Sydney cloud data centre startup AirTrunk is set to be acquired by US private equity firm in a deal worth a reported $20 billion. The Financial Times reports that the cloud computing and artificial intelligence business, founded by CEO Robin Khuda, who immigrated to Australia from Bangladesh when he was 18, has been part… Read more »
Canva has announced a tripling of their prices for some of its users as the Australian tech company prepares for a public listing in the US. In the US, some users have had their subscription increase from $119.99 per year to $300 per year for the first 12 months – an increase of 316% –… Read more »
NSW startups looking to break into the Vietnamese, Indonesian and Malaysian markets have the support of the state government thanks to deals that will launch coworking sites as bases in the three countries. The International Landing Pads program will give nine startups access to workspace, networks and services to scale in SouthEast Asia. In return NSW… 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 »
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 »
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 »
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 »
Shant Kradjian, the owner of consumer electronics retailer digiDirect, has acquired the assets of failed ASX-listed Booktopia in a deal that will bring the online bookseller back online and out of administration. The sale price, which has not been disclosed, will not see a return to shareholders. Booktopia racked up debts of around $60 million,… Read more »
The acquisition hunger of cashed-up Australian tech companies has continued with link-in-bio platform Linktree scooping up social media scheduling platform Plann for an undisclosed sum. Founded in 2016 by former ad exec Christy Laurence, Plann was named Startup Daily’s Startup of the Year. She left her corporate job after suffering a brain injury. Initially told… Read more »
Brisbane-based electric vehicle charger manufacture Tritium will live, but under new Indian owners. New Delhi-based EV charger manufacturer Exicom has scored a bargain, snapping up the rival business, at one stage worth $2 billion before it was handed to administrators in April, for $45 million (US$30m). The acquisition will save around 300 Australian jobs, but will… Read more »
A startup developing cheaper, copper-based solar panels, and backed by Australian tech royalty, has shed jobs and changed its executive leadership as part of a major restructure of the business SunDrive’s investors include Atlassian founder Mike Cannon-Brookes, VCs Blackbird and Main Sequence, the federal government-backed Australian Renewable Energy Agency (ARENA) and Clean Energy Finance Corporation,… Read more »
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