Today
Building industry payments firm shelves Aussie ambitions, heads to UK
ProjectPay founder Louise Stewart has won a British grant to get her start-up off the ground there, having felt stymied by the political culture in Australia.
- Hans van Leeuwen
This Month
- Opinion
- Funding
The ‘missing middle’ stopping Australia from being a deep tech force
To see bold ambitions in areas like quantum computing, robotics and AI come to fruition, Australia must match rival countries and grow the “M” of its SMEs.
- Sally-Ann Williams
Home-deposit-lending start-up digitally altered news article in ads
OwnHome has wiped CBA, its own backer, from ads it is running on Facebook and Instagram, which feature a digitally manipulated version of a Financial Review story.
- Nick Bonyhady
- Exclusive
- Weight loss
Start-up to sell ‘unapproved’ replica Ozempic, upending market
Eucalyptus is challenging the monopoly over the diabetes and weight-loss drug, sparking a sharp rebuke from the $505 billion drugmaker Novo Nordisk.
- Nick Bonyhady
Potentia promises cash before Christmas to up pressure on Whispir deal
Rival suitor Pendula is expected to reveal its binding offer within days as the private equity firm offers shareholders a speedy deal.
- Nick Bonyhady
Aussie start-up banks $15m to build AI workers
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
- Venture capital
How a Sydney VC made 13 times its money on one start-up investment
OneVentures has turned an $8.8 million investment in Employment Hero into a $116 million return, as new ways of selling out of private companies pick up popularity.
- Paul Smith
This executive took a risk and was hired on a backpacker visa
Ines Lizaur was lured to Australia from Elon Musk’s SpaceX, but the immigration system meant she had to rely on a backpacker visa to work.
- Tess Bennett
Gerry Harvey and Unilever pile into local hair care start-up Straand
Earlier this year, Sephora agreed to stock the fast-growing hair and scalp care brand in stores across Australia, the United Kingdom and Asia.
- Carrie LaFrenz
North American crypto fund scours Australia looking for bargain buys
Animoca Brands, a blockchain-based gaming business, is being targeted by the $760 million fund with a mandate to soak up secondary shares at big discounts.
- Jessica Sier
- Exclusive
- AI
Australian AI image champion raises $47m
Leonardo Ai is staring down doubts about whether its business is truly unique, or just a layer atop open-source tools, as it races to stay ahead of US rivals.
- Nick Bonyhady
- Exclusive
- Funding
This is the $4b reality of Australia’s ‘tech winter’
New data reveals VCs have invested significantly less in local tech start-ups this year compared with 2022, as a downturn in funding chills the sector.
- Tess Bennett
- Exclusive
- Venture capital
‘Australian Tiger Global’: VCs firms split over investment strategy
Blackbird Ventures is using its size to pay more for stakes in early-stage start-ups than many of its rivals, who say it could eventually hurt founders.
- Nick Bonyhady
Merger crackdown risks VC funding going overseas
The tech industry has warned that the federal government’s proposed tougher merger laws would make it harder for founders to sell their businesses, stymying start-up returns.
- Ronald Mizen and Hannah Wootton
November
- Opinion
- Fast Starters
How to raise capital in a tough funding market
Fast-growing companies need to follow these eight tips when looking to win over investors in a difficult economic environment.
- Xavier Keary
Wesfarmers-backed InstantScripts fined $742,500 for prescription drug ads
The Therapeutic Goods Association has now issued 45 infringement notices to the telehealth start-up.
- Jessica Sier
- Exclusive
- Mergers & acquisitions
Two Australian fintech deals close as acquisition season kicks off
A Brisbane digital lender has bought out one of its rivals, while TaxLeopard has acquired a firm that provides software to help Uber drivers do their accounting.
- Paul Smith
- Exclusive
- Funding
‘Large swaths’ of staff cut at heavily backed start-up
Education tech start-up Edrolo is in an industry threatened by disruption from the rise of generative artificial intelligence, big money backers have cause for concern.
- Nick Bonyhady
- Exclusive
- Funding
HSBC aims $200 million at Aussie start-ups
The local arm of global banking giant HSBC is hoping to exploit the release of Silicon Valley Bank’s stranglehold on the start-up sector.
- Tess Bennett
- Analysis
- Cybersecurity
Government turns around its Optus cyber debacle
Clare O’Neil’s cyber strategy is a strong first step to raising national standards, tackling plenty of areas where businesses need help, and leaving room for further reform.
- Paul Smith
