NSYE-listed DXC Technology has identified five ways it predicts the metaverse will impact life and business in the next 5 years. Here’s what they think. Workplace collaboration will never be the same again Around the world, the metaverse will become part of daily work for an increasing number of employees. Instead of staring at a… Read more »
Angel investor community Innovation Bay is opening a Brisbane chapter Horizon is moving to agnostic deal flow Queensland founders can apply to pitch via Dealum Innovation Bay, the longest-running community for technology startups, scale-ups and investors in Australia and New Zealand, is launching in Queensland in 2023. Horizon, the 20-year-old organisation’s angel investor community, has… Read more »
Nearly 100 staff at real estate and infrastructure digital twin startup will be looking for next jobs in the new year after the company cut 22% full-time employees and contractors, less than 10 days after announcing it had raised US$28.8 million (A$42m). The Sydney- and US-based startup is backed and chaired by former Macquarie CEO Nicholas… Read more »
Monogramed luxury fashion startup The Daily Edited (tde.) has new owners, with the owners of budget fashion brand Colette by Colette Hayman (CBCH), acquiring the brand from administrators KordaMentha. Parent business BJM is owned and chaired by former Myer boss Bernie Brookes. The sale price was not disclosed. Founded in 2014 by Perth-based former corporate… Read more »
The Australian game development sector is enjoying rapid growth on the back of unprecedented government support, with almost 800 new jobs created in the last year alone. The Interactive Games and Entertainment Association (IGEA) released its sixth annual Australian Game Development Survey this week, revealing that the sector has more than doubled in size over the last… Read more »
Vively.com.au, a metabolic wellness platform, has raised $1.5 million in an oversubscribed pre-Seed round led by Archangel Ventures. Vively uses constant glucose monitoring via an arm patch to help people understand how their diet and lifestyle is affecting their metabolic health in real-time. The funding will be used on product development and growth to capture… Read more »
Aerotruth, a software startup that speeds up and streamlines the B2B partnership process for fintechs and banks has raised $1.3 million in an oversubscribed Seed round. The raise was led by Archangel Ventures, with participation from Afterwork Ventures, Black Sheep Capital, Change Com, Cut Through Angels, Spring Capital and Unlock Capital. The Software-as-a-service company launched globally in… Read more »
ASX-listed online retailer Kogan.com has swooped on another distressed asset, acquiring failed furniture brand Brosa a week after it was placed in voluntary administration. Administrators KordaMentha reached a deal with Kogan.com (ASX:KGN) to buy Brosa’s assets for $1.5 million after more than 30 parties expressed interest in the 48 hours after the business was placed… Read more »
Digital challenger bank Alex has been granted its full banking license by the Australian Prudential Regulation Authority (APRA). The approval authorised deposit-taking institution (ADI) comes 18 months after the fintech, founded in 2018 by CEO Simon Beitz, a former Suncorp exec, and Chief Financial Officer Craig Fenwick, was granted its Restricted ADI licence amid a… Read more »
The deal to merge share trading platform Superhero and crypto exchange Swyftx, which was supposed to create a fintech unicorn, is over. Superhero founders John Winters and Wayne Baskin are resuming control of their business as Swyftx grapples with the fallout from the collapse of US crypto exchange FTX and concerns of money laundering by… Read more »
Health and aged care compliance reporting platform Zipline.io has raised $10 million as it looks to ramp up US market growth Existing backer EVP led the round with the VC’s largest follow-on cheque, supporting by King River capital. New backers include TechnologyOne founder Adrian Di Marco, Aconex cofounders Leigh Jasper and Rob Phillpot, the Sypkes… Read more »
Buy Now, Pay Later (BNPL) services have dramatically changed the landscape of personal lending, largely by being easy to access and not charging interest – thus avoiding national credit laws. In the 2021-22 financial year, according to data from the Reserve Bank of Australia, the number of active BNPL accounts in Australia rose from 5… Read more »
Global live entertainment and ticketing giant TEG has taken a majority stake in three-year-old Sydney startup FAN+. The terms of the deal were not disclosed. FAN+ was founded by former Sydney Kings CEO Rod Hary in 2019, getting its initial momentum as part of the Qantas AVRO accelerator, and the following year, the sports-focused HYPE… Read more »
The venture capital arm of energy giant BP has tipped $20 million into Sydney solar array startup 5B, to close out its $55 million Series B. The additional funds from bp ventures end a 15-month capital campaign that saw the first $30 million secured in June, with the round being led by existing backers… Read more »
Longevity has not been enough to save nine-year-old Melbourne delivery service YourGrocer, which shuttered its doors on Friday, just weeks after seeking to raise more than $1 million via crowdfunding. YourGrocer CEO Morgan Ranieri, a cofounder of profit-for-purpose venture, Thankyou, launched his grocery venture in 2013, taking a more boutique approach, working with around 85… Read more »
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