Topic Archives

US regulators launch legal action against crypto giant Binance alleging they broke US money laundering laws

Casey Tonkin - March 28, 2023 2 MIN READ

The US Commodity Futures Trading Commission (CFTC) has launched a suit against the world’s biggest cryptocurrency exchange Binance, claiming the company was deliberately skirting local regulation and knowingly facilitated the illicit flow of money. In a complaint against Binance, its founder Changpeng Zhao, and chief compliance officer Samuel Lim, the CFTC alleged the Binance team… Read more »

Cyber security

CommBank and Telstra team up to tackle phone scams

Simon Thomsen - March 28, 2023 2 MIN READ

The Commonwealth Bank (CBA) and Telstra have launched a pilot program to see if they can improve protection from phone scams, via an API. They’ve call the Telstra API Scam Indicator. It’s currently at proof-of-concept stage and to be piloted over the next few months. Early simulation results suggest it can help detect and prevent… Read more »

Funding

VC-backed crowdfunding platform Stride Equity is offering a new funding model for startups

Apurva Chaudhry - March 28, 2023 2 MIN READ

A team of former Investec executives have launched Stride Equity an equity crowdfunding (CSF) platform backed by a venture capital fund, Stride Lead, in a model that looks to rethink how startups raise funds. Stride Equity will evaluate each investment opportunity with experienced investors to choose the companies offered on the crowdfunding. Startups seeking capital… Read more »

Events

Connecting brains to computers: 3 startups, including Australia’s Synchron, that have pioneered the technology

Sam John - March 28, 2023 4 MIN READ

Since it was founded in 2016, Elon Musk’s brain-computer interface (BCI) company Neuralink has had its moments in biotech news. Whether it was the time Musk promised his “link” would let people communicate telepathically, or when the whole company was under investigation for potentially violating the Animal Welfare Act, the hype around Neuralink means it’s… Read more »

People

Return of the Jedi: Redbubble cofounder Martin Hosking takes charge of his embattled company once again

Simon Thomsen - March 28, 2023 2 MIN READ

Reddbubble cofounder Martin Hosking is back as CEO of the creative products marketplace for a third time following the resignation of Michael Ilczynski amid a plunging share price and a push to be cash flow positive. Hosking, now 62, was CEO from 2010 to 2018, then returned to the role in 2020 after his replacement… Read more »

Events

Entries for the Proptech Awards are now open

Apurva Chaudhry - March 28, 2023 2 MIN READ

Entries for the Proptech Association Australia (PAA) 2023 Proptech Awards are now open. The awards span three categories –startups, scale-ups, and established Suppliers – for each award and this year there are seven new awards. Proptech Association Australia President Kylie Davis said that this year there will be 33 awards in total. “We are recognising… Read more »

Business

The Canva brand is now worth more than Woolies, Telstra and Bunnings

Simon Thomsen - March 27, 2023 3 MIN READ

Kantar BrandZ Top 40 Most Valuable Australian Brands top US$125bn in brand value Banks (37%) and Retail (24%) are the dominant categories in the Top 40 Australians are rewarding brands that are meaningful and relevant Design platform Canva is now the country’s second most valuable brand, behind the Commonwealth Bank of Australia, according to the… Read more »

Funding

Fintech Lumiant banks $5.26 million in Seed round

Apurva Chaudhry - March 27, 2023 2 MIN READ

Financial advice fintech Lumiant has raised $5 million in a second self-described “Seed” round. The funding came from two growing independent advisory firms, Australia’s Invest Blue and US firm Savant Wealth Management. Lumiant is a cloud-based advice platform designed to improve financial advisers’ and clients’ advice outcomes. The funding is earmarked for US expansion and… Read more »

Events

Bright Sparks: Employment taxes, peer-to-peer & takeover – 3 events to light up your week

Maxine Sherrin - March 27, 2023 2 MIN READ

Welcome to our weekly column on the important things to see and do for the ANZ startup community, brought to you by the director of the Spark Festival, Maxine Sherrin. She picks out 3 things worth putting in the diary for the week ahead. If you’d like to know more, sign up to the Weekly Sparks, Maxine’s… Read more »

Funding

Female-founded fermentation startup Cauldron lands $10.5 million to transform how new foods and fibres are developed

Simon Thomsen - March 27, 2023 2 MIN READ

Cauldron speeds up development of new food, feedstock and fibre ingredients Its hyper-fermentation platform lowers commercial risk & production costs $10.5m Seed round led by Main Sequence + Horizons Ventures An ambitious plan to transform the way new food, feedstock and fibre ingredients are created, by using fermentation has raised $10.5 million in seed funding… Read more »

Other tech

Australian electric car-sharing platform evee charges ahead with crowdfunding campaign on Birchal

Apurva Chaudhry - March 27, 2023 < 1 MIN READ

Electric car-sharing startup evee is raising capital via crowdfunding, as it looks to expand into the UK and EU markets. Evee launched in 2016 and is now hoping to raise $1.6 million in an equity crowdfunding campaign on Birchal. The company hit three million kilometres of electric vehicle (EV) sharing just days before kicking off… Read more »

AI/Machine Learning

Can AI chatbots compete with Dr Google? We put ChatGPT to the test

Ashley Hopkins - March 27, 2023 3 MIN READ

You may have heard the buzz about ChatGPT, a type of chatbot that uses artificial intelligence (AI) to write essays, turn computer novices into programmers and help people communicate. ChatGPT might also have a role in helping people make sense of medical information. Although ChatGPT won’t replace talking to your doctor any time soon, our… Read more »

Business

Supply chain issues leave companies overstocked

Cec Busby - March 27, 2023 2 MIN READ

Australian small business retailers and manufacturers are sitting on potentially significant cash windfalls, but there may be a price to pay. Research from inventory management software provider, Unleashed, shows that many businesses have overstocked by an average of $231,700 due to the supply chain issues caused by COVID-19 delays. Aussie small businesses are drowning in… Read more »

ASX

Shares in Afterpay’s parent company are getting slaughtered after a short seller accused Block of ‘facilitating criminal activity’

Simon Thomsen - March 24, 2023 3 MIN READ

Shares in dual-listed Block (ASX:SQ2) fell more than 18% on the ASX on Friday after a US short seller, Hindenburg Research, published a lengthy report accusing the parent company of local fintech Afterpay of inflating its user metrics and fraud facilitation after it used Block’s Cash App to order a cash card under the name… Read more »