This week in startups 4/3/2024 shares jump as half-year results turn from red to black, despite ongoing sales and revenue falls (Startup Daily)

Written by Haris Qurershi

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  • shares jump as half-year results turn from red to black, despite ongoing sales and revenue falls (Startup Daily)

  • Synthetic biology is a $30B opportunity creating 50,000 jobs according to CSIRO and its VC arm Main Sequence (Startup Daily)

  • NSW government opens submissions to Innovation Blueprint, seeking to ‘reset its relationship’ (Startup Daily)

  • Octopus Deploy has acquired a US rival, Codefresh, in a deal worth reportedly worth $42.6M (Startup Daily | AFR)

  • Prospa is delisting with a $74M takeover bid, five years after hitting the ASX with a $610M market cap (Startup Daily)

  • Tank Stream Labs launches AI hub with Microsoft (Startup Daily)

  • Employment Hero founder and CEO Ben Thompson explains Hostplus' Bill of Attainder Against innovation and why they want to permanently ban them from helping Australian employees consider alternative super funds while they are being onboarded into a new job (LinkedIn | Startup Daily)

  • Startup Speakers launches to amplify diverse voices in the Australian startup ecosystem (SmartCompany)

  • Atlassian commits to Australian IP retention in landmark $92 million settlement with ATO (SmartCompany)

  • Xero to deploy generative AI as part of strategy update (ARN)

  • Superloop rejects Aussie Broadband’s ‘opportunistic’ $467M merger proposal (ARN)

  • Meta slammed over "dereliction" of commitment to Australian news (BNA)

  • Staff cuts and sales growth lift earnings at Airtasker (BNA)

  • Bike Exchange raising $3.1m with plans to delist after an uphill battle on the ASX (BNA)

  • Former EML Payments CEO Tom Cregan launches digital tipping fintech for hospitality - OnTheMonee (BNA)

  • Shares double for hearing tech scale-up Audeara on Zildjian contract (BNA)

  • US funds are trying to woo Australian backers as a large group of local firms scramble for cash (AFR)

  • Blackbird tours US hunting for Aussie deals abroad (AFR)

  • Morgan Stanley pressures Seek to unlock VC fund’s $2.3B valuation (AFR)

  • Appen shares surge 15pc as new chief outlines AI strategy (AFR)

  • Dubber has suspended its chief executive, Steve McGovern, after $26.6M were “applied for other purposes” (The Australian)

  • Telstra Ventures cashes out in $2.75bn OpenGov deal with Cox Enterprises (The Australian)

  • Canva Create tech showcase shifted to US ahead of potential IPO (The Australian)

  • Build Club launches Australia's first permanent AI co-working residency: a home away from home for our top AI founders (The Age)

  • Paying later: The inside story of Afterpay’s inevitable decline (Capital Brief)

  • Startup sector makes its case against 'sophisticated investor' changes — with one big concession (Capital Brief)

  • CBA in line for $1.7B IPO windfall from Klarna rollercoaster ride (Capital Brief)

  • AirTree shares it’s new look as launches a rebrand (LinkedIn)

  • UNSW & Westpac Join Forces to Grow Women-led Startups (UNSW Founders)

  • LaunchVic announces a $1M MedTech Market Growth Program, which will provide $50K matched funding to up to 20 medtech startups (LinkedIn)

Funding Rounds

  • Bandicoot Imaging, a 3D fashiontech startup, has raised a $1M pre-Seed round led by Hong Kong VC qonvolv Ventures (Startup Daily)

  • MyDriveHero, an app for safe driving, has raised a $300K in equity crowdfunding (SmartCompany)

  • Gravity Drinks, a startup that produces a hard seltzer, has raised a $1M Seed round (BNA)

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