Investments in tech companies such as Fiverr, Vend, Property Guru and Canva have already returned $1.12 billion to Square Peg’s early backers, the VC has revealed as it gears to raise a sixth fund worth US$500m (A$840m). The exits across 14 portfolio companies have spanned mergers and acquisitions, secondary market share sales and public floats… Read more »
The company behind fan engagement social media brand Basketball Forever has raised $6 million in a Series A. The round for Forever Network was led by Yolo Investments, with support from Three Kings Capital, Folklore Ventures and Astralis Capital. Forever Network will use the capital to expand into the US in the second half of… Read more »
University students are increasingly turning to entrepreneurship, with student-founded startups raising more than $1.2 billion since 2012. And now that investment is set to escalate dramatically with the launch of Australia’s first student-run venture capital fund. NextGen Ventures, which launches this week, has taken a deep dive into the data around VC and student founders,… Read more »
Startmate has taken its support of women in startups to the next level. The “Ladymates” initiative – a term was coined by Startmate’s team in the accelerator and investment program – will support more women to work, found and invest in startups. They’ve set a goal of equal gender representation in the ANZ startup sector… Read more »
Welcome to The Ask, Our new column on Startup Daily designed for founders looking for capital. It may be venture capital, crowdfunding or another path, and is designed to flag your startup to potential investors. If you’re on the hunt for cash, we’re happy to share the news with Australia’s startup community. This is your… Read more »
Government-backed investment fund Breakthrough Victoria has defended itself against critics wanting it abolished saying it wants to “fundamentally reshape the innovation landscape”. The $2 billion VC fund, launched in 2021, and chaired by former Labor premier John Brumby, has been subject to a sustained media campaign for it to be dismantled, led by Adir Shiffman,… Read more »
Employee experience platform Culture Amp is acquiring a Serbian people analytics startup to broaden its capabilities The cost of the deal with Orgnostic, founded in Belgrade in 2019, was not disclosed. The analytics platform combines fragmented HR data to give leadership teams rapid insights into how their workforce is tracking. That data will be plugged… Read more »
The Australian Securities and Investments Commission has stepped in to prevent ASX-listed Dubber’s CEO and cofounder, Steve McGovern, and lawyer Mark Madafferi, principal of North Melbourne law firm, Christopher William Legal, from leaving the country as investigations continue into $26.6 million missing from the business. The corporate regulator applied to the Federal Court on March… Read more »
The Australian economy would be $100 billion bigger and boosted by 42,000 new jobs if investment in research and development (R&D) was increased to 3% of GDP, according to Science & Technology Australia, the peak body for science and tech. STA president Professor Sharath Srira spoke at the National Press Club in Canberra this week, prosecuting… Read more »
Three years of hard work at Fintech Australia has paid off for general manager Rehan D’Almeida, who has been promoted to CEO amid a changing of the guard at board level. Sarah Gorman has been elected as the industry advocacy group’s new chair, with Simone Joyce, who has relocated to the US to ramp up… Read more »
Deep tech incubator Cicada Innovations is on the hunt for the nation’s 23 most promising deep tech ventures, to showcase their world-changing innovations at the country’s largest deep tech conference, Cicada x Tech23. Applications are now open for the next three weeks April 12. Founders keen to take part and present at the event are asked to explain… Read more »
The first Pride Pitch Night dedicated to LGBTIQA+ founders in the Southern Hemisphere was a fantastic celebration of diversity, inclusion, and innovation, showcasing the untapped potential within Sydney’s LGBTIQA+ entrepreneurial community with an estimated 75% of LGBTIQA+ founders not comfortable disclosing their identity. This is concerning not just for LGBTIQA+ entrepreneurs seeking funding but for… Read more »
A five-month legal showdown between three tech titans has kicked off in Australia, with Fortnite-maker Epic Game’s case against Apple and Google to have potentially huge ramifications for how we use our smartphones. Epic’s legal battle with Apple and Google began in Federal Court in Melbourne on Monday, centred on the dominance of the tech giant’s app… Read more »
Fintech Citro has launched a rewards program for Australians around retirement age, offering savings from more than 200 retailers. AMP-backed Citro launched in 2023 and already has more than 75,000 members on its platform. They receive tailored content and insights to help them take control of their finances as they approach and manage their retirement.… Read more »
Casual workforce management platform Deputy is claiming unicorn status – a $1 billion-plus valuation – more than 15 years after it was founded, following a A$37 million buy in from a US strategic partner. But the Sydney-based scaleup is reluctant to talk about it, along with its investors. Deputy’s PR firm sent out a media release… Read more »
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