Topic Archives

HOT STUFF: Sydney quantum computing startup Diraq gets processors to work in warmer temps

Simon Thomsen - March 27, 2024 2 MIN READ

Sydney startup Diraq appears to have cracked one of the many challenges facing the future success of quantum computing – an absolute zero operating temperature Diraq has demonstrated its spin-based quantum processors operating at temperatures 20 times warmer than previously demonstrated while maintaining stability and high accuracy, with the results published in a peer-reviewed study in… Read more »

Events

Blackbird reveals the full lineup for Sunrise Australia

Startup Daily - March 27, 2024 2 MIN READ

Venture capital firm Blackbird’s annual Coachella for startups, Sunrise Australia, will feature more than 50 speakers across three stages, with the full lineup for the two-day event in May revealed today. New speakers include Bluey creator Joe Brumm, ethicist and philosopher Peter Singer, MONA curator Kirsha Kaechele, Gilmour Space cofounder Adam Gilmour, Wedgetail VC CEO… Read more »

People

Finder Australia CEO Chris Ellis is leaving the building

Simon Thomsen - March 26, 2024 2 MIN READ

When Finder shed around 60 roles last month – 17% of its workforce – turns out one of them was the comparison site’s Australia CEO, Chris Ellis. SmartCompany’s Tegan Jones revealed Ellis was among the company’s cost savings, pointing out he’s disappeared from Finder’s leadership page and will leave the business at the end of… Read more »

Business

Canva gobbles up UK rival Affinity in its biggest spend yet

Simon Thomsen - March 26, 2024 2 MIN READ

Design software platform Canva is fattening up for its public listing in 2026, acquiring UK professional graphic design and photo editing software business Affinity for an undisclosed sum. It’s believed to be the biggest outlay yet by Canva in a string of merger and acquisition deals in recent years, including fellow British data startup Flourish in… Read more »

Venture Capital

VC Square Peg has already returned $1.1 billion to investors as it gears up for a 6th fund

Simon Thomsen - March 26, 2024 3 MIN READ

Investments in tech companies such as Fiverr, Vend, Property Guru and Canva have already returned $1.12 billion to Square Peg’s early backers, the VC has revealed as it gears to raise a sixth fund worth US$500m (A$840m). The exits across 14 portfolio companies have spanned mergers and acquisitions, secondary market share sales and public floats… Read more »

Funding

Sports social media platform Forever Network shoots and scores $6 million Series A

Simon Thomsen - March 26, 2024 2 MIN READ

The company behind fan engagement social media brand Basketball Forever has raised $6 million in a Series A. The round for Forever Network was led by Yolo Investments, with support from Three Kings Capital, Folklore Ventures and Astralis Capital. Forever Network will use the capital to expand into the US in the second half of… Read more »

The NextGen Ventures Melbourne team: Donald La, Ikya Thearam, Mitchell Hughes, Varad Chaudhari. Photo: Valent Media.

Venture Capital

Investors have poured more than $1.2 billion into Australian student-founded startups

Simon Thomsen - March 25, 2024 3 MIN READ

University students are increasingly turning to entrepreneurship, with student-founded startups raising more than $1.2 billion since 2012. And now that investment is set to escalate dramatically with the launch of Australia’s first student-run venture capital fund. NextGen Ventures, which launches this week, has taken a deep dive into the data around VC and student founders,… Read more »

Women in tech

Startmate launches ‘Ladymates’ to help women accelerate their startup careers

Startup Daily - March 25, 2024 2 MIN READ

Startmate has taken its support of women in startups to the next level. The “Ladymates” initiative – a term was coined by Startmate’s team in the accelerator and investment program – will support more women to work, found and invest in startups. They’ve set a goal of equal gender representation in the ANZ startup sector… Read more »

Maslow cofounders Caitlin Robinson and Kane Jackson

Funding

The ASK: Fintech Maslow will offer financial services at cost, disrupting the traditional profit model

Startup Daily - March 25, 2024 3 MIN READ

Welcome to The Ask, Our new column on Startup Daily designed for founders looking for capital. It may be venture capital, crowdfunding or another path, and is designed to flag your startup to potential investors. If you’re on the hunt for cash, we’re happy to share the news with Australia’s startup community. This is your… Read more »

Events

Purposeful investing, migrapreneurs and deep tech: Raising the Bar brings big ideas to Sydney bars

Adam Bub - March 25, 2024 3 MIN READ

Can AI algorithms treat depression? Will climate migration fuel local innovation? Pull up a bar stool and quench your thirst for big ideas at Raising the Bar 2024, a night of 20 talks across 10 Sydney venues. It’s not every day you walk into a bar and get to hear from climate tech, neurotech or… Read more »

Social Media

The music industry’s experience with radio is a lesson for the media when it comes to Facebook’s refusal to pay for news

Peter Martin - March 24, 2024 4 MIN READ

Why are musicians so keen to get played on the radio? It can’t be because of the money. In Australia they are paid at rates so low they come close to making streaming services look generous. By law, no radio station can be made to pay more than 1% of the station’s gross revenue for… Read more »

Venture Capital

‘More than just a venture capital firm’: $2 billion sovereign fund Breakthrough Victoria hits back at critics who want it abolished

Simon Thomsen - March 23, 2024 5 MIN READ

Government-backed investment fund Breakthrough Victoria has defended itself against critics wanting it abolished saying it wants to “fundamentally reshape the innovation landscape”. The $2 billion VC fund, launched in 2021, and chaired by former Labor premier John Brumby, has been subject to a sustained media campaign for it to be dismantled, led by Adir Shiffman,… Read more »

Business

Culture Amp acquires people analytics platform Orgnostic

Simon Thomsen - March 22, 2024 2 MIN READ

Employee experience platform Culture Amp is acquiring a Serbian people analytics startup to broaden its capabilities The cost of the deal with Orgnostic, founded in Belgrade in 2019, was not disclosed. The analytics platform combines fragmented HR data to give leadership teams rapid insights into how their workforce is tracking. That data will be plugged… Read more »

ASX

ASIC stops Dubber’s CEO and a lawyer from leaving Australia over company’s missing $26.6 million

Simon Thomsen - March 22, 2024 2 MIN READ

The Australian Securities and Investments Commission has stepped in to prevent ASX-listed Dubber’s CEO and cofounder, Steve McGovern, and lawyer Mark Madafferi, principal of North Melbourne law firm, Christopher William Legal, from leaving the country as investigations continue into $26.6 million missing from the business. The corporate regulator applied to the Federal Court on March… Read more »

Funding

Australia’s lack of R&D investment is costing us $100 billion and 42,000 jobs

Simon Thomsen - March 21, 2024 3 MIN READ

The Australian economy would be $100 billion bigger and boosted by 42,000 new jobs if investment in research and development (R&D) was increased to 3% of GDP, according to Science & Technology Australia, the peak body for science and tech. STA president Professor Sharath Srira spoke at the National Press Club in Canberra this week, prosecuting… Read more »