Early stage venture capital firm Investible has hit the first $35 million close target on its second fund in just three months. The Sydney-based VC has a target of $50 million for its new fund and recently installed CEO Rod Bristow, whose first job was the raise, said the speed and success of the initial… Read more »
Tech accelerator Remarkable has a new cohort of seven companies changing people’s lives. Remarkable’s mission is to support startups harnessing tech to empower people living with disability. The organisation provides seed funding, mentoring, coaching, investor networks, expertise and guidance, with Alan Jones among the mentors individually guiding the founders. The seven global ventures range from… Read more »
Melbourne-based drinks business Mighty Craft has announced plans to buy South Australian producers Adelaide Hills Distillery, Mismatch Brewing and Hills Cider in a deal worth $47 million. The agreement also includes 75 % ownership of the popular LOT.100 venue, which is a destination distillery, cellar door, restaurant and function centre on an 84-hectare property near… Read more »
The world of cryptocurrency is weird and complicated. In this four-part series, we look at the history of crypto, how you can get your hands on some, what you can do with it, and the Australian innovators looking to capitalise on this emerging technology. Part I: Well, it looks like an historic cryptocurrency bull run is over.… Read more »
Melbourne-based workforce management startup Ento has closed a $5 million Series B, with its backers eyeing an ASX listing. The round was led by Perennial Value Management, with existing investor AirTree Ventures chipping in once again. The funds will be used to double the size of the current team of 40, open offices in Sydney and… Read more »
Melbourne customer engagement marketing company MessageMedia is being acquired by Swedish rival Sinch for US$1.3 billion (A$1.7bn). The deal is made up of US$1.1bn in cash and 1.126 million new shares in Sinch. MessageMedia offers mobile messaging solutions for SMEs in the US, Australia, New Zealand, and Europe, serving more than 60,000 customers and sending… Read more »
The use of artificial intelligence (AI) in tech is set to become ubiquitous over the next decade, but getting consumers to embrace products that use it will be a major issue for startups with nearly three-quarters of Australians suspicious of AI. The only thing playing in favour of startups using AI is that most people… Read more »
If you were having difficulty accessing your favourite website on Tuesday evening Australian time, you’re not alone. A jaw-dropping number of major websites around the globe suddenly became unavailable with no immediately obvious explanation — before reappearing an hour later. It’s disconcerting when the sites we rely on suddenly become inaccessible, and even more so… Read more »
Acting Victorian Premier James Merlino announced an end to Victoria’s current lockdown from 11:59pm Thursday 10 June 2021. However, in an effort to control the recent outbreak, visitors to homes will remain banned in Melbourne. While Melbournians will only be able to travel up to 25 km from their home. Some good news for retailers… Read more »
Philanthropic movement Pledge 1% has partnered with the world’s leading venture capital firms with a goal of donating A$6.5 billion (US$5bn) in new charity funding over the next five years. The new program, Boardroom Allies, will see a group of leading US and global VCs, including Australia’s Blackbird Ventures, commit to helping portfolio companies set… Read more »
An AI-based chatbot startup that allows real estate agents to communicate with customers 24/7 has raised $6 million in a series A. Propic, which has two proptech solutions for agents and property managers to respond and communicate via automated conversational or text AI, was backed by former Domain boss Antony “The Cat” Catalano and billionaire… Read more »
Canberra-based communications compliance software startup Castlepoint Systems has raised a $3 million series A led by Main Sequence Ventures. The CSIRO’s deep tech investment fund was joined by existing investor IxTx in the round. Castlepoint’s software uses artificial intelligence to automatically discover, classify, and control documents, emails, chat messages, databases, or webpages in a company… Read more »
Simulate, a New York startup that makes “simulated” chicken nuggets, founded two years ago by Australian Ben Pasternak when he was just 19, has raised US50 million (A$65m) in a series B. The round was led by Reddit co-founder Alexis Ohanian, husband of tennis champion Serena Williams, through his VC fund Seven Seven Six. Ohanian… Read more »
Australian and US law enforcement officials on Tuesday announced they’d sprung a trap three years in the making, catching major international crime figures using an encrypted app. More than 200 underworld figures in Australia have been charged in what Australian Federal Police (AFP) say is their biggest-ever organised crime bust. The operation, led by the… Read more »
Three months ago, Lygon launched the world’s first digital bank guarantee using blockchain technology, marking the beginning of the end for the paper-based guarantee which has been the dominant form of contractual surety in the western world for around 200 years. The launch of Lygon was the first time a bank guarantee had been fully… Read more »
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