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.
Venture capital
Canva takes the fight to Microsoft and Google for enterprise subscribers
As it reshapes its core creativity products around AI, Canva is also hoping more prosaic productivity features can drive subscriptions.
$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.
Australia’s ADHD system made him ‘snap’. Now he’s raised millions to build a new one
Andrew Forrest’s Tenmile and the founders of Go1 have backed a new venture seeking to simplify ADHD assessment and treatment. Seven years ago Zac Altman sold his traveltech startup LoungeBuddy to American Express. Now, following a stint as a VP at the finance giant, Altman has raised $3.5 million in seed funding for a venture […]
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.
The ‘SaaSpocalypse’ is reshaping venture capital. Australia should take notice
Opinion: AI is tearing up the old SaaS rule book and pushing venture capital towards a barbell of mega-bets and tiny cheques. Australia needs to pay close attention, argues Daniel Petre Venture capital, lazily defined, is capital invested into high-risk and hopefully high-return companies that disrupt tired market sectors with genuinely new products. That’s been […]
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.
The UK’s $100 billion fintech disruptor takes aim at Australia’s big four banks
Revolut, a UK fintech last valued at US$75 billion ($104 billion), has been approved to operate banking services in Australia. It plans to spend “nearly” $400 million to win over the local market.