Australian AI lab caps $10 million pre-seed raise to run in global AI race
Metacognition AI raised $10 million from Main Sequence in a round ten times the size of Australia’s pre-seed average.
Startup
OpenAI inks deal with $14 billion Australian data centre player Firmus
OpenAI will be a foundational customer of two AI Factory data centres Australian company Firmus is developing. Key Takeaways Key Background Founded by Oliver Curtis and Tim Rosenfield, Firmus has rocketed almost out of nowhere to become Australia’s third largest data centre company by valuation. It has raised US$2.5 billion ($3.5 billion) so far this […]
He’s quietly invested in Australia’s biggest space tech startups. Now he’s moving to launch a $150m fund
Will Scully-Power has for the past two been investing in Australian space startups. Now he’s looking to launch a VC fund.
Brandon Capital’s $60m taypayer-funded biotech bets
Around $60 million in taxpayer funds has been deployed by Brandon Capital to startups working on cancer cures, infection prevention, fibrosis treatment and more. Brandon Capital has deployed around $60 million of National Reconstruction Fund capital across 10 biotech startups over the past year, championing the NRF as helping to keep promising technology in the […]
$1.2 billion VC King River Capital predicts ‘flood’ of super money flowing to startups
Two proposed amendments to superannuation will be a boon for the startup sector, predicts King River Capital.
Diraq pushing its quantum computer to the cloud amid commercialisation race
The Sydney startup will setup a basic quantum computer in an Equinix data centre by October, it said on Tuesday, as it moves to commercialise a technology that’s been in R&D phase for decades. Key Takeaways Key Background Proponents of quantum computing say it could be a US$200 billion industry that will enable fundamental breakthroughs […]
Blackbird closes record $1 billion fund, but turns ‘cautious’ on AI
Blackbird has raised $1.05b from prestigious global institutions like Morgan Stanley and Schroders to establish the biggest Australian VC fund yet.
The 8 Australian startups on Forbes Asia’s 100 To Watch list
Sixteen countries made this year’s list of Asia-Pacific’s rising small companies. Australia’s contingent raised close to $100 million between them, spanning green tech, biotech and enterprise software.
SafetyCulture has a new name – and an insurance bet to match
Luke Anear has wanted to change the name of the company he founded for years. Now SafetyCulture has become Mittle as the $2.4 billion startup reshapes itself for the AI era.
AI made founding a startup easier than ever – but VC data shows funding is getting harder
It is true that AI has made creating a software startup easier, but data from Cut Through Venture indicates getting funding may be another story.