Melbourne fintech pay.com.au has raised $25 million as it looks to head offshore and open in the US. The round was led by Morgans Corporate with support from Wilson Asset Management, Thorney Group, and Ophir. Another $28 million in existing shares also changed hands in a secondary sell-down. The deal valued the payments and rewards… Read more »
A $60 million investment fund backing construction tech to tackle housing development in Australia has been launched by Boman Group. The fund, in partnership with JPCX, the investment arm of logistics and building supplies company JPC, has already completed its first investment in an Australian modular housing company to help it scale. Boman Group founder… Read more »
Alex Miller was having rapid success with his subscription management platform Hudled when he spotted a nugget of insight in that startup and launched a second, Rechargly. Like a Marvel movie spinoff, he’s now enjoying even more success, as Alex explains on episode 39 of Startup 360. Listen here Cohosts Simon Thomsen and Majella Campbell… Read more »
This week’s funding roundup looks a little different. While it includes startups building AI, solar and medtech solutions, it also includes a bakery with a cult following and a rapidly growing retailer that caters to parents. Keep reading to learn more about 19 Australian and Kiwi companies that have raised more than $59.6 million in… Read more »
Tech accelerator Founders Factory is launching a third startup program in Western Australia after forging a partnership with local multiple sclerosis non-profit, MSWA. The $1.75 million joint venture will fund and scale startups building technologies to help people living with neurological conditions such as MS, stroke, Parkinson’s disease, Huntington’s disease, motor neuron disease (MND) and… Read more »
Sydney drinks brand Hopr has gulped down $3 million in a Seed round after being turned away by local VCs. While consumer brands often turn to crowdfunding for capital, founder Jose Ramirez turned to boutique advisory firm TWIYO to build its cap table, which includes New Zealand exec John Bromley, former Matildas player Sue Read, and… Read more »
Over the next decade, Elon Musk could become the world’s first trillionaire. The Tesla board recently proposed a US$1 trillion (A$1.5 trillion) compensation plan, if Musk can meet a series of ambitious growth targets. Australia’s corporate pay packets aren’t quite on that scale. Yet even here, it was recently reported departing Virgin chief executive Jayne… Read more »
Sydney startup Medow Health AI, which is using artificial intelligence (AI) to automate medical reports for specialist doctors has raised $3 million in new funding from the clinicians who backed its first raise earlier this year. Medow Health was cofounded by Joel Freiberg, who has Crohn’s disease, and his brother Josh, inspired by the time… Read more »
It’s not every day you get to pitch for US$1 million in investment. But then again, the Startup World Cup in San Francisco is not your everyday startup pitch comp. Three Australian startups – Adiona, Deeligence and GravityFit – were among 98 finalists from 100 regional competitions across 60+ countries to fly to San Francisco… Read more »
Disability worker Storm Menzies, founder of accessible makeup tools startup ByStorm Beauty has won the Kickstarter Challenge, taking home $30,000 in equity-free funding. Four runners-up also took home $7,500 for their startups following the grand final at Parliament House in Canberra today. The five-year-old Kickstarter Challenge, developed by Enterprising ME and run in conjunction with The… Read more »
Currents, the Gold Coast startup community-building group backed by Torus Ventures, has acquired Michael Batko’s Startup Striders. The purchase price was undisclosed, and the deal was completed entirely in cash. Startup Striders began in 2023 as a Saturday morning run and coffee meetup in Sydney. Since then it has become a large community with more than… Read more »
Australia’s national science agency CSIRO says it will cut up to 350 more research jobs after already removing over 800 positions in the past 18 months amid rising costs and stagnant funding. The news comes just days after the heads of CSIRO’s digital and manufacturing research arms — which have both seen job losses — left… Read more »
Meta has begun warning users it suspects are under 16 that their accounts will begin to be deactivated under the teen social media ban, as it investigates why Instagram already won’t let some users create accounts. On Thursday, Meta was the first tech company to announce its plans for complying with the government’s social media minimum age… Read more »
Melbourne software unicorn Culture Amp has shed another 6% of its workforce, with the loss of around 60 jobs. The employee engagement platform cut 9% of its workforce – 90 roles – in 2023, so the latest losses suggest the business grew back to around 1000 employees over the last 2.5 years. Previously 36 roles… Read more »
New Zealand startup Kiki Club’s move from Sydney to New York generated just $76,000 in revenue over two years, but has cost them three times that figure in fines for operating illegally there. Kiki Club paid US$152,000 (A$224k) to settle charges by the Mayor’s Office of Special Enforcement (OSE) that it violated New York City’s… Read more »
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