Online retailer Booktopia has been placed in voluntary administration less than four years after listing on the ASX. Shares in the Booktopia Group (ASX:BKG) had been suspended since mid-June after admitting the business had liquidity issues and sought funding for redundancies and working capital. McGrathNicol restructuring partners Keith Crawford, Matthew Caddy, and Damien Pasfield were… Read more »
Antler in Australia has unveiled seven new pre-Seed startup investments as part of its Portfolio Spotlight event tonight. The early-stage VC invests $225,000 at a $1.875 million post-money valuation for a 12% stake. The seven are part of the 29 investments Antler in Australia has made over the last 12 months. Antler partner James McClure… Read more »
Last month, several major record labels filed copyright infringement lawsuits in US courts against the makers of two generative AI music apps, Suno and Udio. The labels allege the AI companies have engaged in copyright infringement by copying many sound recordings belonging to the record labels, and producing outputs very similar to those recordings. The… Read more »
The national watchdog will investigate the federal government’s contract with a major law firm to provide legal advice on its near-$1 billion PsiQuantum deal after it increased by more than 10 times in just nine months. The federal and Queensland governments earlier this year announced a $940 million investment in US firm PsiQuantum that will… Read more »
While podcasts have become all the rage when it comes to talking to founders about startup life, NiceTo founder Preethi Mohan has decided to take things to the next level with a live talk show shining a spotlight on the superstars of ecosystem. The Startup Palette Show, presented by NiceTo, and supported by Investment NSW,… Read more »
Power giant Origin Energy has taken a 20% stake in six-year-old energy management startup Climatech Zero for an undisclosed sum. The business was spun out of the merger of Sydney mechanical services (ie. air conditioning, heating, ventilation and plumbing) design and construction firm Climatech Group and Irish sustainability software business CoolPlanet, in 2018 before rebranding… Read more »
Former Yahoo boss and Google OG Marissa Mayer is among several heavyweight US investors backing Australian cooking app ReciMe in a $1.5 million Seed round to make its mark in the States. ReciMe began life as a lockdown project for sisters Christine and Ivy Nguyen, and their best friend Will Kent. It launched in late… Read more »
Sydney B2B hospitality supplies platform Marketboomer has raised $4.9 million in a round led by Salter Brothers Tech Fund. It’s the second investment made by the Melbourne fund manager, which in February, stitched together the $74m takeover bid for small business lender Prospa to take it private after five years on the ASX. Marketboomer is… Read more »
The creative destruction to workplaces wrought by artificial intelligence (AI) could create up to 200,000 jobs to replace those it also takes, according to a new report from the Tech Council of Australia (TCA). While AI has many fearful that they’ll be made redundant, the report, produced in partnership with Microsoft, LinkedIn and Workday, argues… Read more »
Mentwell, a gift card healthcare startup that’s honed in on mental health and wellness, has raised $228,950 in a crowdfunding campaign. The Birchal campaign in June was backed by 117 investors as the platform looks to expand into the US and UK markets. Mentwell founder and CEO Nikki Williams said her mission is to revolutionise… Read more »
Sydney-based Dash Technology Group has raised $22 million in a round led by listed venture fund Bailador Technology Investments (ASX:BTI). The Bailador deal will see the VC invest an initial $15 million now with $5m in follow-on funding in six months in January 2025. Dash is a cloud-based financial advice and investment management software platform… Read more »
A construction site safety management startup has raised $4 million as it looks to expand internationally. 1Breadcrumb is a worksite and process management software platform, initially focusing on construction, with ambitions to spread to other worksites to improve safety and productivity. Nearly two-thirds of construction sites still use paper-based workflows. The company plays in a… Read more »
Reusable pallet wrap startup Bearhug has banked $325,000 in a Angel round to reduce plastic waste. The Sydney startup was founded in January 2023 by Tom Field and a uni mate, Max Higgins, and has already prevented more than 4 tonnes of plastic wrap from ending up in landfill. Unlike other startups that have developed… Read more »
A renewable energy company installing home solar and batteries has raised $1 million in pre-Series A bridge funding round. The cofounder of rideshare car subscription service Splend, Alan Hunter, launched National Renewable Network (NRN) in 2021. Last Christmas NRN banked a $3.5 million raise alongside a $10 million funding facility from Catalytic Impact Capital. Investible… Read more »
The Governor of Victoria’s annual startup awards have recognised the state’s best founders an others, with satellite mapping firm Digital Agriculture Services (DAS) named Startup of the Year. Founded in 2017 in partnership with national science agency CSIRO, DAS set out to give farmers “one click” insights on productivity and disaster risk assessments, backed by… Read more »
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