Yesterday
Investors pour billions into AI start-ups, defying a downturn
The AI boom that started in late 2022 has become the strongest counterpoint to the broader downturn in technology funding.
- Erin Griffith
Fortescue, Playground-backed hydrogen flight start-up collapses
Universal Hydrogen had attracted almost $150 million in funding, including from Aussie Peter Barrett’s Playground Global, but it wasn’t enough for it to take flight.
- Yolanda Redrup
- Exclusive
- Venture capital
Ex-Atlassian insiders pull in millions for AI development start-up
Redactive has raised $11.5 million from local and US-based investors after convincing financial services clients to use it to help software engineers develop AI tools.
- Paul Smith
This Month
- Exclusive
- Venture capital
The untold story of struggling start-up survival rounds
Delivery company Sendle raised almost $90 million in good times, but venture capitalists have likened the terms on its latest raise to payday lending.
- Nick Bonyhady
- Exclusive
- Fintech
Financial adviser tech firm $20m richer after funding dash
Dash Technology, a Sydney fintech that sells software to financial advisers, has secured $22 million funding, with $20 million coming from ASX-listed VC firm Bailador.
- Paul Smith
June
‘I fire people just as quickly as my male co-founders’
High-profile female entrepreneurs including Airwallex’s Lucy Liu have hit out at sexist attitudes, and male-led venture capital investors.
- Tess Bennett
Top VC admits newer Aussie funds will struggle to raise capital
Younger venture capital funds will be the next casualties of the tough capital raising environment, even if they’re performing well, a Square Peg partner says.
- Yolanda Redrup and Nick Bonyhady
‘Pick up a knife and get on with it:’ Start-ups reject work-life balance ‘beast’
Start-up workers must be prepared to “go to war,” to help their companies succeed, rather than worrying about work-life balance top local entrepreneurs have warned.
- Maxim Shanahan and Paul Smith
- Exclusive
- Quantum Computing
Cashed-up Diraq says it can win the quantum computing race
It hasn’t got as much money as government-backed PsiQuantum, but the UNSW start-up says it makes up for that in qubit size, as it banks a big funding round.
- John Davidson
- Exclusive
- Venture capital
Start-up funding bounces back, as two-speed sector emerges
New data shows early signs that the tech funding winter is thawing, with Aussie tech deals up 30 per cent on this time last year.
- Tess Bennett
Robotic friend company raises $3 million to build Abi
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
- Updated
- Paul Smith
- Exclusive
- AI
Aussie brothers’ AI firm worth $120m as big name backers invest
Melbourne-based Affinda has built AI-based software used by numerous big companies around the world, it has doubled its valuation in 18 months with well-known investors.
- Paul Smith
- Exclusive
- Quantum Computing
Government’s $189.5m quantum computing VC investment revealed
Previously secret details behind the mammoth investment in US-based quantum computing firm PsiQuantum have been uncovered, including the government’s equity investment.
- Paul Smith
- Exclusive
- Rich Listers
This ex-Young Rich Lister built a top media company, now he’s trying tech
Chris Wirasinha co-founded Pedestrian almost 20 years ago and bootstrapped the company until it was acquired by Nine. With Linkby, he’s taking a different path.
- Yolanda Redrup
Sonic Healthcare-backed Harrison.ai boots up $100m-plus Series C raise
Harrison.ai’s management team has commenced discussions with a handful of potential investors regarding the cash call.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Software
Under-the-radar Melbourne software firm worth $90m after VCs pounce
Atticus has built a roster of clients including BHP, CBA and numerous top law firms for its software that verifies documents are truthful.
- Paul Smith
- Exclusive
- Biotech
Aussie vaccine start-up scores $300m valuation
GPN Vaccines has raised $18 million in a round led by Forepont Capital and Kern Capital.
- Yolanda Redrup
- Exclusive
- Biotech
Super funds, CSL pour $270m into venture capital fund
Australia’s largest life science investment fund, Brandon Capital, has banked $270 million of a planned $350 million raise for its sixth VC fund.
- Updated
- Tess Bennett
- Exclusive
- Venture capital
VC firms lured to Qld by government funding
Early Tritium investors who sold out of the Brisbane-based company close to the peak of its valuation are among four VC firms to receive government backing.
- Tess Bennett
May
Crescent Capital gets into private credit business with key hire
Sinclair is well known in private equity circles, having headed up Westpac’s loan syndications and acquisition finance unit before PwC.
- Sarah Thompson, Kanika Sood and Emma Rapaport