Climate Tech

A Canberra experiment using EVs for power after transmission lines were cut shows they have a role to play in grid emergencies

- July 10, 2024 4 MIN READ

Electric vehicles are an increasingly common sight on Australian roads. Each one cuts carbon emissions by half compared to fossil fuel vehicles, but increases household electricity use by 50%. This extra electricity demand could be a major strain on the grid unless the charging of vehicles is coordinated. But the large batteries in electric vehicles… Read more »

Mac Thompson and Dr Luke Marshall
Funding

Sun Cable OGs raise $1.7 million Seed round for their carbon removal & recycling startup, Fugu

- July 9, 2024 3 MIN READ

Sydney startup Fugu Carbon has raised $1.67 million in a Seed round to ramp up production of its low-cost CO2 capture technology. The round was led climate tech-focused Sydney VC Investible, with support from Andrea Gardiner’s Jelix Ventures, as well as Melbourne climate tech fund Electrifi, and Counteract, a London-based VC specialising in carbon removal.… Read more »

Zonely, Alicia Nagle
Women in tech

Here are the 100 most powerful women in sports innovation

- July 9, 2024 2 MIN READ

More than 30 startup founders and execs, including Zonely’s Alicia Nagle and Stephanie Bofinger from FemPro Armour, have been recognised among the 100 most powerful women in Australian sports innovation.  The second edition of the ‘Women in Sports Innovation’ report, which recognises the outstanding contributions of emerging and established leaders in sports innovation, was released… Read more »

bitcoin
Cryptocurrency

DigitalX is launching a Bitcoin ETF on the ASX

- July 9, 2024 < 1 MIN READ

Digital asset funds management firm DigitalX  has received Australian Securities Exchange (ASX) approval for the listing of its DigitalX Bitcoin ETF. The company (ASX:DCC) will now offer one of the first listed spot Bitcoin ETFs, providing direct exposure to digital assets on the exchange. CEO Lisa Wade said the DigitalX Bitcoin ETF (ASX:BTXX) will provide… Read more »

Funding

A handful of big raises plumped up Australian venture funding in 2024 – unless you’re a woman

- July 9, 2024 4 MIN READ

A single deal that saw Singapore’s sovereign wealth fund sling $300 million at 15-year-old exchange traded funds (ETFs) manager Betashares in mid-June has plumped up Australia’s venture capital turkey in the final quarter of the 2024 financial year, hiding an otherwise disappointing three months for local startups. Data compiler Cut Through Venture included government-backed Temasek’s… Read more »

KC8 Capture Technologies
Funding

Decarbonisation startup captures $10 million raise

- July 9, 2024 2 MIN READ

A Melbourne startup developing carbon capture technology for hard-to-abate industries has raised $10 million. KC8 Capture Technologies, founded in 2021, was backed by local energy giant Woodside, and the VC arm of Mexican cement producer Cemex, among others. The funding is earmarked for team expansion and deploying the technology in sectors such as construction, steel,… Read more »

Uber
Global tech

Uber cuts driver pay in fare drop plan

- July 8, 2024 2 MIN READ

Ridesharing giant Uber will cut the pay of its contract drivers next month as it discounts fares. Despite having the lion’s share of the market, Uber emailed drivers late last week flagging the cuts, arguing that it will lead to more demand. But the change will squeeze margins for drivers already struggling with rising fuel… Read more »

Dr Christoph Meinert and Patrick Christiansen
Funding

Brisbane biotech Gelomics lands $2.2 million pre-Seed round for animal-free medical research

- July 5, 2024 2 MIN READ

A Brisbane biotech startup eliminating the need for animal testing in pharmaceutical drug development has raised $2.2 million in pre-Seed funding. The round for Gelomics was led by Andrea Gardiner’s Sydney VC Jelix Ventures, alongside the  Queensland Investment Corporation (QIC) Enterprise Acceleration Fund and Angelloop. The cash injection is expected create more than 70 highly-skilled… Read more »

Professor Scott Galloway
AI/Machine Learning

Scott Galloway’s Section School is coming to Australia to teach AI

- July 5, 2024 2 MIN READ

The fast-track business school founded by Professor Scott Galloway, the outspoken New York University professor, author, and tech entrepreneur, is coming to Australia to teach artificial intelligence (AI). Galloway’s Section School has partnered with BSI Digital Learning to launch the National School for Upskilling in Artificial Intelligence, offering an “AI Crash Course”. BSI Learning CEO… Read more »

Richard Marles
Global tech

AWS signs $2 billion ‘top secret’ cloud deal for defence with the Australian government

- July 5, 2024 2 MIN READ

Amazon Web Services will build a bespoke cloud environment to handle top secret Defence and intelligence data as part of a $2 billion deal with the federal government. Prime Minister Anthony Albanese and Defence Minister Richard Marles announced the partnership between the Australian Signals Directorate (ASD) and Amazon Web Services (AWS) on Thursday morning. The… Read more »

Redactive AI co-founders Lucas Sargent, Andrew Pankevicius and Alexander Valente.
Funding

Developer compliance platform Redactive AI pockets $11.5 million Seed round for US plans

- July 4, 2024 2 MIN READ

A developer platform created by former Atlassian product managers to tackle the missing AI engineering and security skillsets in enterprise software engineering teams has raised $11.5 million in a Seed round. The funding for Melbourne-based Redactive AI was co-led by Californian VC Felicis and local VC Blackbird, supported by Atlassian Ventures and US automated workflows giant… Read more »

Millibeam
Funding

Breakthrough Victoria tips $3 million into Sydney 5G chipset startup Millibeam to grow in Melbourne

- July 4, 2024 3 MIN READ

The march south by NSW startups seeking funding continues with Breakthrough Victoria ending the financial year with a $3 million investment in 5G semiconductor startup Millibeam to expand in Melbourne. It’s part of a $6 raise for the deep tech startup, which is building chipsets that are faster and cheaper for what’s known as “mmWave… Read more »