I flew from New York to Miami recently, invited to spend a day inside a VC office. This brief trip with Fuel Venture Capital was a masterclass in the relentless spirit that drives the top businesses to succeed.
Tech unicorn Employment Hero has announced a $263 million Series F round to fuel its rapid global expansion, the company revealed on October 19.
Australian hospitality tech platform Ordermentum has acquired food marketplace Foodbomb and raised $16 million in a bid to accelerate its national growth strategy and to further digitise the food and beverage industry.
Startups in Victoria were valued at $50 billion in 2020. Now close to double that, the Garden State’s startup ecosystem has outperformed growth expectations.
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Innovative firms serving the back office needs of Wall Street and other large enterprises continue to prosper, with promising new startups in a crucial niche–fraud prevention–sprouting.
In the first three months of 2023, Australian startups reported $661 million of capital raised across 82 deals. That was less than 50% of reported capital raised in Q1 of 2021 and 20% of Q1 in 2022, according to Cut Through Ventures’ quarterly report.
The amount was also less than half the level raised in the preceding three months.
It is easier than ever to launch a startup – which is why it is also more competitive than ever.
In the face of a downturn, the opportunity lies in new company creation and early-stage companies.