Baraja, a heavily backed Australian driverless technology start-up valued at $300 million at its last funding round in 2021, has made about three-quarters of its workforce redundant amid concerns about tightening global funding prospects and slower-than-expected take-up.
Despite counting the CSIRO venture capital fund Main Sequence Ventures and start-up sector heavyweight Blackbird Ventures among its investors, and receiving a cash injection from Swedish company Veoneer in January, co-founder and chief executive Federico Collarte said major staffing cuts had been unavoidable.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
