Two young brothers behind South African cryptocurrency investment firm Africrypt have disappeared with an estimated $5 billion worth of investors’ money in what could be the largest ever cryptocurrency scam. Raees and Ameer Cajee – 21 and 18-years-old respectively – founded Africrypt in 2019 and promised customers significant returns on investment, reportedly as high as… Read more »
Parcel delivery service Sendle has raised $45 million in a series C. The round was led by Afterpay-backed AP Ventures alongside existing investors including Federation, Full Circle and NRMA Insurance. Afterpay has a majority stake in AP Ventures – not to be confused with the British VC of the same name – and counts billionaire… Read more »
The problem that many smaller companies and startups face is trying to develop something that competes without spending the huge sums of money that comes with hiring an agency. With a background working in strategic brand consultancies, Bramp CEO, Benni Weller understood the challenge that smaller businesses faced and felt he could systemise the process… Read more »
Sydney residents south of the Sydney Harbour Bridge have been told to stay home for the next week and the state government tries to limit the spread of COVID-19 The new restrictions, including wearing a face mask at work, kick in from 4pm today, June 23, for one week. NSW reported 10 locally acquired cases… Read more »
Victoria is taking on South Australia in the local space race with RMIT University in Melbourne announced plans for a new Space Industry Hub for local companies and researchers. The Victorian government is backing the plan with $1 million in funding matched by SmartSat CRC.This funding will establish several flagship research projects aimed at connecting local… Read more »
Melbourne fintech Zeller turbo-charged its balance sheet a week before it launched in early May, with US firm Spark Capital leading a $50 million extension on its series A round, making it the country’s most valuable pre-launch startup. Existing backers Square Peg, Apex Capital Partners and Addition joined the latest raise. Founded by former Square… Read more »
An educational app that helps screen-addicted kids study has raised nearly $2 million in a crowdfunding campaign through OnMarket. 1Question launched in April via the App Store and Google Play and already has over 13,000 downloads. Ann Elnekave developed 1Question with her husband, Issac. The phone app is designed for children up to age 12… Read more »
Gina Rinehart’s mining business, Hancock Prospecting, has tipped $15 million into a $27.2 million capital raise by local medicinal cannabis venture Little Green Pharma. The raise comes as the five-year-old Western Australian ASX venture, which produce medical grade CBD and THC cannabis products for Australia, the UK and Germany, announced the acquisition of medicinal cannabis… Read more »
The Commonwealth Bank’s fintech investment arm, x15ventures, is on the hunt for startup founders looking to reimagine the retail experience to take part in its accelerator program, Xccelerate21. Xccelerate21 is a fast-tracked program for experienced entrepreneurs to achieve rapid growth for their startup. This year, applicants will be invited to reimagine retail, including how customers… Read more »
US-based music licensing marketplace Songtradr has raised US$50M (A$66m) in a series D led by several Australian investors. The round included Australian-based institutional investors Regal, Aware Super, Perennial, Argo and Greencape as well as a follow-on investment from Wisetech Global (ASX: WTC) founder and CEO Richard White. The raise values the business at US$300 million… Read more »
Ground-breaking research by computer scientists at RMIT University has developed an artificial intelligence model that can hear the effects of Covid-19 in the sound of a forced cough, even when people are asymptomatic. While the idea is not new, scientists at Cambridge University and MIT have been investigating the concept, the work at RMIT’s School… Read more »
The rapid rise in Australian early stage investment platforms has continued with the launch of Melbourne-based Flying Fox. Early stage investment was considered “the valley of death” for startups in recent years due to a lack of capital. And while Australian early stage investment lags well behind the UK and US – $3.60 per capita… Read more »
Small and medium-sized business (SME) lender Judo Bank has seen its valuation climb by $300 million to $1.9 billion after raising an extra $174 million in capital. The challenger bank raised $284 million in a round 4 just four months ago for a $1.6 billion valuation. Judo has now raised $688 in 13 months and… Read more »
A new savings app offering a 3% fixed income return and targeting millennial savers has seen $3.4 million from 850 investors flow into its coffers in the week since it launched. Blossom, which is targeting women, and honours the nickname of founder Gaby Rosenberg’s late grandfather, is being backed by Fortlake Asset Management, which has serial… Read more »
Fortnite maker Epic Games, which is currently in a massive anti-competition legal battle with Apple in the California courts, is planning similar legal action against Google and has won an Australian Federal Court victory to launch proceedings. Justice Nye Perram, who is also overseeing part of Epic’s case against Apple, but granted a three-month stay… Read more »
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