AI Data Centre Startup Firmus Eyes Off Another $725 Million Raise as It Readies to IPO on the ASX
Sydney‑born Firmus Technologies announced a $505 million USD (A$725 million) strategic equity raise led by Coatue with Nvidia participation, lifting its post‑money valuation to roughly $5.3 billion USD (A$8 billion). The funding will accelerate the rollout of its "green AI factories" across the Asia‑Pacific region, including the A$73 billion ($48 billion) Project Southgate aimed at energy‑efficient compute. Firmus, now Singapore‑based, plans an ASX IPO in mid‑2026 targeting a $12 billion valuation after its valuation surged 400% in six months. The company touts cooling technology that cuts energy use by 33% and water consumption by 99%, positioning it as a sustainable alternative in the booming AI‑infrastructure market.
Tradie AI Receptionist Startup Banks $900,000 in Pre-Seed
Australian startup Chime Labs secured $900,000 AUD (~$600,000 USD) in a pre‑seed round led by 500 Global and supported by angel investors. Founded by former Googlers Alexis Griveau and Mathew Pretel, the company offers an AI‑powered receptionist that answers calls...
Fintech VC Triple Bubble Nails $10 Million First Close on Its $50m Fund
Fintech venture fund Triple Bubble announced a $10 million Australian‑dollar first close (≈$6.6 million USD), anchored by Commonwealth Bank’s x15ventures. The fund, founded by Dom Pym, Brian Collins and Judy Anderson‑Firth, targets a $50 million Australian‑dollar final close (≈$33 million USD) by Easter 2028, drawing commitments from fintech founders...
Startup 360: Tim Fung on 13 Years of Being Airtasker-in-Chief
Tim Fung, co‑founder and CEO of Airtasker, reflects on more than a decade of building Australia’s first online job marketplace in episode 51 of Startup 360. He shares a memorable request where a Tasker was asked to fly to the US, retrieve...
AI Insurance Broker Platform Rosella Raises $3.7 Million in Pre-Seed
Australian AI insurance broker Rosella announced a $3.7 million pre‑seed round. The funding was led by Peak XV Partners and Intact Private Capital, with participation from other investors. Rosella’s platform automates time‑intensive broker tasks, including navigating over 100 carrier portals and providing...
Anthropic Has ‘Come to Copyright’ Epiphany After Claude Code Leak
Anthropic’s Claude chatbot source code was unintentionally exposed, resulting in a 2,000‑file, 512,000‑line leak that quickly spread on GitHub. The company responded by issuing DMCA takedown notices, a stark contrast to its earlier public advocacy for fair‑use defenses in AI...
Kiwi Startup Advisor Oxygen Acquired by Singapore Tech Firm Multiplier
Singapore‑based Multiplier has acquired New Zealand fintech adviser Oxygen Advisors, marking its sixth global purchase. Oxygen, founded in 2015, brings a 50‑person team that has supported over 300 high‑growth startups and helped them raise more than $800 million in capital. The deal’s...
We Analysed More than 2 Million Tracks on Spotify to Find Out if Its AI Is ‘Killing’ Australian Music
A new study analyzing 2.27 million Spotify tracks found that AI‑generated playlists heavily favor U.S. artists and rely on far fewer unique songs than editorial lists. While the research does not confirm that Spotify’s AI is "killing" Australian music, it shows...
AI Guru Stela Solar Is Stone & Chalk’s New CEO
Stela Solar, former head of Australia’s National AI Centre and ex‑Accenture managing director, has been appointed CEO of startup hub Stone & Chalk, replacing Chris Kirk after a decade of growth. Solar brings deep experience across government, corporate AI, and...
IT Collaboration Startup Support Fusion Raises $1 Million Pre-Seed for Offshore Ambitions
Support Fusion, a Melbourne‑based startup that links managed service providers with enterprise IT tools, closed a $1 million pre‑seed round led by Func Ventures and Exhort Ventures. The platform now supports over ten connectors—including ServiceNow, Jira, and Zendesk—and operates in Australia,...
Tech Council of Australia Claims the Sector Is Now Worth 9% of GDP
The Tech Council of Australia’s new report values the technology sector at $248.5 billion, representing 8.9% of national GDP, and emphasizes that indirect tech adoption now drives most of that contribution. Direct tech output has doubled since 2015 but its share...
Google Parks ‘$20 Billion Investment’ over Fears the $5.5 Trillion Behemoth Might Have to Pay More Australian Tax
Google Australia has put its proposed $20 billion data‑centre programme on hold, citing fears that the projects could be deemed a permanent establishment and subject to Australia’s 30% corporate tax rate. The pause follows a decline in the subsidiary’s effective tax...
Why the R&D Review Nailed It on the Tricky Question of Finding Customers
The Strategic Examination of Research and Development (SERD) report highlights Australia’s chronic difficulty in finding early customers for deep‑tech and climate‑energy firms. Most local corporates and governments are risk‑averse, preferring to import innovations rather than purchase home‑grown solutions. SERD proposes...
Steve Smith’s $100,000 Koala Investment Is Set to Be His Highest Score as the Bedmaker Hits the ASX for Six
Koala, the Australian direct‑to‑consumer mattress and furniture brand, is set to list on the ASX with a $305 million market capitalisation after closing a $68 million IPO that includes $20 million of fresh capital. The float will see existing shareholders sell $48.1 million of...
Fines Are Just a Cost of Business – and Forgiveness for Big Tech Behaving Badly. Here’s What Needs to Happen
Countries are turning to fines to enforce new social‑media rules for children, following Australia’s lead. Recent penalties – such as the UK’s £14 million fine on Reddit and the EU’s multi‑hundred‑million‑euro fines on Apple, Meta and Google – illustrate a growing...
AI Legal Tech Startup MiAI Law Raised $2 Million
Australian legal‑tech startup MiAI Law, founded by barrister Laina Chan, announced a $2 million seed round raised in five days from family, staff and angel investors. The platform differentiates itself by linking case law and statutes through a transparent reasoning engine...
The Denholm R&D Report Made the Case for Crowdfunding Reform, so It’s Time for Government to Act
The Ambitious Australia report, chaired by Robyn Denholm, highlights that Australia’s per‑capita investment in crowdsourced funding (CSF) is just $2, far behind the UK’s $8. The analysis attributes this gap to an outdated regulatory framework that forces every micro‑investor onto...
“Don’t Build Your Strategy on Someone Else’s Definition of Success”: Xero MD Urges Founders to Define Their Own Path
At the recent Melbourne Growth Summit, Xero Managing Director Angad Soin warned founders that strategy isn’t a glossy document but a daily set of choices aligned with personal aspirations. He argued that benchmarking to the average leads to average results...
2 Million for 1: Olympian Bronte Campbell on Being a Team Player and Founder Mindset
Olympic triple‑gold medallist Bronte Campbell has transitioned from the pool to the boardroom as CEO of Earthletica, a sustainable active‑wear label. The brand, which avoids virgin plastics and PFAS chemicals, has already sold out its inaugural collection and generated over...
Climate Tech Startup MGA Thermal Raises $17 Million
Australian climate‑tech startup MGA Thermal announced a $17 million financing round, bringing its total capital raised to $50 million. The round was led by IP Group Australia, with board seat for Shane Meaney, and included a mix of venture firms and government...
Construction Tech Startup Raises $850,000 Pre-Seed After Irish Move
Construction‑tech startup Scopey Onsite announced a €523,000 (A$850,000) pre‑seed round led by SFC Capital with Enterprise Ireland backing. Founded by CEO Jenna Farrell and COO Gillian Laging in 2022, the AI‑driven platform converts WhatsApp messages and voice notes into structured...
Startmate’s Heading Back to Silicon Valley with Its Founders
Australian accelerator Startmate is reviving its pre‑pandemic tradition by taking its May 2026 cohort to Silicon Valley. The trip follows a Sydney Demo Day and will culminate in a first‑ever San Francisco Demo Day, giving founders direct access to US venture...
Atlassian Cuts 1600 Jobs in AI Restructure
Atlassian announced a restructuring that will eliminate roughly 1,600 positions, about 10% of its 16,000‑strong global workforce. The cuts, including 500 roles in Australia, are intended to self‑fund accelerated AI development and expand enterprise sales. Chief Technology Officer Rajeev Rajan...
OpenAI Is Hosting ‘Startups Week’ Events for Founders in Sydney
OpenAI is organizing a three‑day “Startups Week” in Sydney from March 18‑20, featuring workshops and builder lounges for startup founders. The events, co‑hosted with Square Peg, Side Stage Ventures, Relevance AI and innovation hub Stone & Chalk, will showcase OpenAI’s latest frontier models, multimodal updates and...
Preventative Mental Health Startup Mynd Wants to Change Workplace Support to a Habit
Australian workers rarely use traditional Employee Assistance Programs, with only about 5% engagement. To address this gap, Melbourne founders Ash Horovitz and Dean Rotenberg launched the mental‑wellbeing app mynd, offering 24/7 micro‑sessions and personalized emotional check‑ins. Since its soft launch...
This CEO Believes Customer Service Teams Are Her Biggest Growth Lever – but only if You Listen to Them
Flexischools CEO Rachel Debeck credits co‑locating customer‑facing teams with engineers for faster feedback loops, turning user workarounds into product features. The proximity eliminated weeks‑long delays, enabling real‑time problem solving. This approach drove strong growth: events up 66%, uniform shops up...
ACS Replaces Its CEO
The Australian Computer Society (ACS) announced that Josh Griggs is stepping down as chief executive, with Dr. Prins Ralston assuming the role immediately. The change follows a turbulent period that saw the closure of its Melbourne and Brisbane offices, a...
Project F Updates Startup Toolkit to Help Founders Get Their HR Right
Project F Australia has relaunched its Tech Startup Toolkit, a plug‑and‑play guide that provides hiring, pay‑structure and culture policies for tech startups with fewer than 100 employees. Developed with input from venture capital firms, the toolkit aims to close gender pay...
Why ‘Menstrual Leave’ Isn’t the Solution for Women’s Reproductive Health at Work
Employers worldwide have experimented with dedicated menstrual‑leave provisions, hoping to offset the hidden cost of painful periods. A 2019 Dutch analysis quantified that employees lose an average of 8.9 productive days each year to menstrual symptoms, primarily through presenteeism rather...
Stone & Chalk Doubles Its Backing for Women Founders with IWD Scholarships
Stone & Chalk has doubled its International Women’s Day Scholarship program after a 60% surge in applications for 2026. The cohort expands from six to twelve founders, who will spend six months in the accelerator’s hubs in Sydney, Melbourne and...
Startup 360: Stone & Chalk’s Chris Kirk on CEO Life and Being a Good Founder
Chris Kirk announced his departure as CEO of Stone & Chalk after three years at the helm and eleven years with the not‑for‑profit innovation hub. He guided the organization through a $9 million financial turnaround, restoring stability to a community that...
Cancer Medtech Tops up Series B to $28 Million
Sydney‑based Lumonus secured an additional $3 million, raising its Series B to $28 million. The AI‑powered platform automates radiation‑oncology workflows, already supporting over 280,000 cancer treatments and 75,000 treatment plans across the US, Australia and Europe. Funds will expand U.S. go‑to‑market teams, boost...
The Komo Club Opens Applications for Cohort 3
The Komo Club opened applications for Cohort 3 of its structured performance program, which runs from April 20 to June 12. Founder Rohit Bhargava frames the initiative as a “human accelerator,” applying the same systematic frameworks used to scale companies to founders’ health, clarity,...
Green Fertiliser Startup PlasmaLeap Lands $28 Million Series A
Australian startup PlasmaLeap Technologies has closed a $28 million Series A round, co‑led by the Gates Foundation, Investible and Yara Growth Ventures. The funding will finance the rollout of modular, zero‑emission reactors that synthesize ammonia and nitrate using air, water and renewable...
Construction Tech Startup Veyor Builds $10.6 Million Series A
Construction‑tech startup Veyor secured a $7.5 million Series A round, led by Marbruck Investments, to accelerate its U.S. expansion. The Sydney‑based platform digitises site logistics, acting as a real‑time “Uber Eats” for material deliveries across contractors, suppliers and owners. Veyor already generates...
Patient Capital: The Slow Burn on Returns From the Eucalyptus Sale
Australian telehealth startup Eucalyptus agreed to a A$1.6 billion sale to NYSE‑listed Hims & Hers, roughly ten times its total venture funding. The transaction delivers a 40% cash down‑payment now, with the balance spread over earn‑outs and deferred payments through 2028....
Sendle, the Australia Post Challenger that Raised $100 Million, Is in Liquidation
Australian parcel‑delivery startup Sendle, which raised more than $100 million and positioned itself as a carbon‑neutral challenger to Australia Post, has been placed into liquidation. The collapse followed a costly US expansion and a merger in August 2025 that created FAST Group...
Canva Denies Job Losses as Leonardo.AI Comes Into the Fold
Canva announced that it will integrate its recent AI acquisition, Leonardo.AI, into the main platform without any layoffs. The company refuted media reports suggesting redundancies, stating that the 150‑person Leonardo team will be reassigned to existing AI initiatives or new...
5 Things You Must Know if You’re Going to Be on a Startup Board
Founders often become “accidental directors” when a startup raises capital, expands its team, or attracts investors, prompting the creation of a formal board. The shift to a boardroom demands a new governance mindset, emphasizing independent judgment, duty of care, and...
Tassie Cybersecurity Scaleup Upguard Pockets $105 Million Series C
UpGuard, the Hobart‑based cybersecurity firm, closed a $75 million Series C round led by Springcoast Capital, with participation from August Capital, Square Peg and Pelion Venture Partners. The capital will accelerate development of its AI‑powered cyber‑risk posture management (CRPM) platform, expand go‑to‑market operations,...
SafetyCulture Founder Luke Anear Returns as CEO to Be ‘Present’ in Sydney HQ
SafetyCulture announced that founder and executive chairman Luke Anear will step in as interim CEO after the departure of US‑based CEO Kelly Vohs on March 31. The change aims to provide a consistent leadership presence at the Sydney headquarters while the...
Logistics Giant WiseTech Cuts 2000 Coding Jobs as AI Takes Over
WiseTech Global announced the elimination of roughly 2,000 coding positions, representing more than a quarter of its 7,000‑strong workforce, as it pivots toward artificial‑intelligence‑driven solutions. The company posted a 76% surge in first‑half revenue to US$672 million, while net profit slipped...
Heidi Acquires UK Medical AI Startup
Heidi, the Melbourne‑based clinical‑notes AI scale‑up, has acquired UK health‑tech platform Automedica, bolstering its move from a GP scribe to a broader AI suite. The deal, undisclosed financially, follows Heidi’s $125 million funding round that valued the company at $703 million. Post‑acquisition,...
The Government Wants VCs to Co-Invest in a $1 Billion Defence Industry Fund
The Australian federal government is preparing to contribute up to $500 million as co‑investment alongside venture capital firms into one or more Advanced Capabilities Investment (ACI) funds aimed at defence and dual‑use technologies. A Request for Expressions of Interest on AusTender...
Kogan.com ‘Firing on All Cylinders’, Founder Says, as Group Profit Falls 20%
Kogan Group reported mixed H1 FY26 results, with its flagship Kogan.com platform delivering 21% sales growth and a 17% revenue increase, while the New Zealand acquisition Mighty Ape saw sales fall 9% and a 25% revenue drop, dragging group NPAT down 20%...
It Looks Like Open Banking’s ‘Breakout Moment’ Is Finally Here
Open Banking in Australia is reaching a breakout moment as three notable consumer‑lending firms—an ASX‑listed billion‑dollar player, a $300 m listed firm, and a $60 m private company—have shifted from screen‑scraping to regulated Open Banking data feeds. This transition replaces insecure credential‑based...
Federal Government Slips $12.7 Million to 8 Quantum Projects Tackling Energy, Minerals and Health
The Australian federal government allocated an additional $12.7 million to eight collaborative quantum‑technology demonstrators, expanding the $35.9 million National Quantum Strategy. Funding ranges from $1.1 million for a data‑centre cooling solution to $2.4 million for rare‑earth detection in mines. Projects span energy optimisation, medical...
Defence Drone and Robotics Startup Breaker Pilots $9 Million Seed Round
Australian defence tech startup Breaker has secured a $9 million seed round, led by Bessemer Venture Partners with participation from existing backer Main Sequence. The funding will accelerate its AI‑driven voice interface that lets a single operator command up to 100...
Blackbird-Backed Telehealth Startup Eucalyptus Sells for $1.6 Billion to US Listed Rival
Australian telehealth startup Eucalyptus is being acquired by NYSE‑listed Hims & Hers for $1.15 bn, valuing the company at A$1.6 bn. The deal includes an upfront $240 m payment and deferred cash or stock plus earn‑out provisions through 2029. Eucalyptus reports an ARR north...
Is Australia’s Secondaries Market the Solution to Delayed Exits and Liquidity Pressure?
Australia’s venture ecosystem is confronting a liquidity crunch as exits stretch and companies remain private longer. Secondary transactions have moved from occasional fixes to a structural component, with analysts estimating a US$2.6 billion pool of liquidity in tech firms over the...
