Up to 2,800 Telstra workers will be retrenched by year’s end, with Australia’s largest telecommunications carrier announcing plans to pare its workforce in an AI-driven “reset” of its enterprise arm including an overhaul of its Telstra Purple services business. The package of reforms is designed to contribute to $350 million in cost savings as the… Read more »
Melbourne VC firm Skalata has a new investor in LaunchVic, which has backed the seed fund with $900,000. Skalata, chaired by former Toll boss Paul Little, has been a highly active in early capital for nascent startups, making 70 investments across two funds since its l. LaunchVic will invest directly into the fund manager overseeing… Read more »
Following the massive success of its inaugural CDR (Consumer Data Right) Summit last year, FinTech Australia will run its second gathering in Sydney to start the new financial year. The CDR summit at The Hilton in Sydney on Wednesday, July 3, will showcase local and international experts, policy makers, founders and builders discussing the future of… Read more »
The Victorian government has teamed up with Swinburne University to figure out if using doctor-prescribed medicinal cannabis when driving is a problem. The $4.9 million trial to determine if medicinal cannabis users can drive safely will take place over 18-months on a closed-circuit track that mimics real-world driving conditions. Researchers will review the ability of… Read more »
Cleantech agri-food accelerator SparkLabs Cultiv8 has announced the nine startups taking part in its annual accelerator program. Founder Jonathon Quigley said the nine were chosen for their contributions towards creating a more sustainable and efficient global food production system. “The interest in this sector has grown enormously over the past eight years, as well as… Read more »
Last week OpenAI launched GPT-4o (“o” for “omni”), a new version of the artificial intelligence (AI) system powering the popular ChatGPT chatbot. GPT-4o is promoted as a step towards more natural engagement with AI. According to the demonstration video, it can have voice conversations with users in near real-time, exhibiting human-like personality and behaviour. This… Read more »
The annual Pause Awards, which honour innovation and breakthroughs in the Australian tech and innovation ecosystem, have returned for 2024 with a dozen new categories to bring the total to 36. Founder George Hedon said the focus for 2024 is on recognising breakthroughs—those pivotal moments when individuals and businesses discover better, more effective ways to operate.… Read more »
A recycling startup dealing with problem products, such as soft plastics, coffee pods, blister packs and vapes, has raised $1.15 million from 1014 investors in a crowdfunding campaign. Five-year-old Sydney-based RecycleSmart plans to accelerate it national expansion with the funds. In the last 12 months, RecycleSmart has doubled its customer numbers, revenue and also seen… Read more »
Australian music licensing startup Melodie has banked $1 million in a bridging round ahead of plans for a major raise next year. The convertible note investment will form part of the 2025 round. Melodie previously raised $1 million at a $15 million valuation just over 12 months ago, and $600,000 in September 2021. Code Barrel founder Nick… Read more »
Little Birdie, the online retail marketplace developed by Catch founders Gabby and Hezi Leibovich, and backed with $30 million in pre-Seed funding from the Commonwealth Bank, has shut down. In an email sent to customers just after 5pm on Friday, May 17, the company said the retail product price comparison site has “paused operations”. “For… Read more »
New Zealand fermented proteins startup Jooules has raised NZ$1 million (A$920k) from local accelerator and investor Sprout Agritech. Jooules is among eight NZ$1m investments Sprout has made, with additional funding from partners US-based Finistere Ventures, dairy firm Fonterra and venture builder OurCrowd, as well as the Callaghan Innovation’s Deep Tech Incubator program. Other recent NZ$1m… Read more »
To ensure our long-term economic prosperity, Australia must continue to develop and establish sovereign capabilities in future critical industries. “This requires aligning the nation on a bold and visionary future through policy levers focussed on long-term, transformational opportunities while also galvanising short-term action to address our current circumstances”, commented Cicada Innovations CEO Sally-Ann Williams. Sally also… Read more »
Founder Institute ANZ, the local chapter of the world’s largest pre-seed startup accelerator, has revealed the eight startups in its latest cohort as they prepare for Demo Day next week. The startups involved have just completed an intensive 3.5 months program of business-building, evaluation, and feedback from leading experts and investors ahead of a Demo Day… Read more »
Social impact startup Maslow has raised $409,676 in a crowd-sourced funding (CSF) campaign from 288 investors, including many other founders in the impact space. Investors included Brendan Doggert, country manager of Sharesies, Youpay founder Matt Holme, former ZeroCo CMO Glen Cassidy, Future Super cofounders Kirstin Hunter and Adam Verwey, Doone Roisin of Female Startup Club,… Read more »
This year’s federal budget is making up for decades of lost time – both in our clean energy transition and in betting on new technological breakthroughs. The Future Made in Australia Act holds tantalising potential for building Australian science, research and development. The aim is to turn Australia into an innovation and clean technology superpower.… Read more »
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