The federal government is looking to take on big tech companies like Meta, owners of Instagram, Facebook and WhatsApp, TikTok and Elon Musk’s X (formerly Twitter), and possibly YouTube, with a social media ban for children under 16. Prime minister Anthony Albanese and communications minister Michelle Rowland today revealed plans for legislation to be introduced… Read more »
Federal government-backed Australian Renewable Energy Agency (ARENA) has awarded software startup Orkestra $2.77 million in co-funding to help fast-track the rollout of commercial electric vehicle chargers. The $5.5m software project is also being backed by electricity giants AGL and EnergyAustralia, as well as motoring organisations RACV and RAA and commercial real estate firm CBRE, aims… Read more »
Australian computer scientist and debunked Bitcoin ‘inventor’ Craig Wright has been accused of contempt of court after filing a $1.79 billion lawsuit against payments firm Block. Despite a storied early career in Australia’s IT industry, Wright is most known for his unwavering and controversial claim of having invented leading cryptocurrency Bitcoin under the pseudonym Satoshi Nakamoto. The… Read more »
5 finalists receive help to grow their nature-positive impact $100,000 Nature Positive Prize to the winner A $20,000 People’s Choice Prize chosen by KPMG staff A new First Nations category Two new themes: regenerative economy and sustainable food systems Applications for the annual KPMG Nature Positive Challenge for 2024 are now open to startups in… Read more »
In a significant blow to Australia’s defence capabilities, the federal government is cancelling what would have been the nation’s largest-ever space project: a $7 billion military satellite communications system. The decision was confirmed in a press statement on Monday. It comes just 18 months after the Albanese government gave the green light to the ambitious… Read more »
Rocket launch pads in Queensland and South Australia have been granted permits by the Australian Space Agency to fire up, with Gilmour Space hoping for lift off before Christmas. Meanwhile, the Southern Launch Whalers Way Orbital launch complex in South Australia has been granted final environmental approvals for work on permanent facilities ahead of plans… Read more »
The first drive in a Victorian government trial to see someone who’s taken medicinal cannabis to see if they can drive safely got underway this week. The closed-circuit testing at the METEC Driver Training facility in Bayswater is the start of a $4.9 million, 18-month trial, conducted by Swinburne University of Technology, to analyse how… Read more »
Kiwi editech Crimson Education has raised NZ$67 million (A$60m) Series D that has seen the scaleup’s valuation jump by nearly 40% in just two years. The raise was previously reported in July, but the size of the round was not disclosed. It was led by NZ investor Movac, with support from existing backers HEAL Partners,… Read more »
The Victorian government’s controversial $2 billion venture capital fund, Breakthrough Victoria, posted a $3 million loss in its third year of operation. The funding body, which saw several directors depart in 2024, with CEO Grant Dooley also heading to the exit after just three years, copped a $360 million haircut in the Victorian budget earlier… Read more »
A fintech startup funding the legal fees for family law disputes has raised $5.7 million in a Seed round. Sydney-based JustFund launched in 2022 cofounded by former lawyers Andy O’Connor and Jack O’Donnell, and fintech entrepreneur Craig Carroll, The raise was led by Xilium Capital, with support from Startmate, US-based Legal Tech Fund, impact investor… Read more »
On July 13, shortly after Donald Trump was targeted by an assassination attempt, Elon Musk, the billionaire owner of X (formerly Twitter), tweeted to his more than 200 million followers: I fully endorse President Trump and hope for his rapid recovery. Musk’s efforts to influence who wins next week’s US presidential election have continued. For… Read more »
Startups tackling issues ranging from being able to settle on Mars to recycling EV batteries and helping entrepreneurs with ADHD to maintain their focus are among seven ideas to emerge from the 2024 cohort of the Australia and New Zealand Founder Institute accelerator program. The local chapter of the world’s largest pre-seed startup accelerator, led… Read more »
Robotics startup Nexobot has raised $400,000 in pre-Seed funding to deliver an affordable solution for order fulfilment in smaller warehouses. The round was backed by Skalata and Antler, to help smaller retailers and others compete against the multi million-dollar robotic systems deployed by the likes of Amazon. Nexobot was founded in 2023 by Dom Lindsay and… Read more »
Social media companies are being “contemptuous” to the Australian people and have done “nothing” to help protect their users from scams and crimes, according to former government cyber security tsar Alastair MacGibbon. MacGibbon, who after a 15-year career with the Australian Federal Police served as special adviser to the Prime Minister on Cyber Security and… Read more »
Q1 FY25 revenue of US$1.19bn, up 21% Subscription revenue of US$1.13bn, up 33% US$123.8m net loss, up 300% Operating loss of $32m FY25 revenue growth expected at 16.5-17%. $1.5bn share buyback planned Atlassian beat its own revenue growth predictions in the first quarter of the new financial year (Q1, FY25), but its losses also continue… Read more »
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