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% to A$8.2 million. Active customers on Kogan.com rose 28% to three million, offsetting the weaker performance of Mighty Ape, which cut inventory by nearly a third. The board maintained guidance for Mighty Ape profitability in H2 FY26 and raised its interim dividend to 8 cents per share, sending the stock up 5.8%.
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...
Breakthrough Victoria Scores 5x Uplift on Investment in US Quantum Startup Listing on the NYSE
Breakthrough Victoria’s A$29 million stake in US‑based Infleqtion has generated a five‑fold value increase after the company listed on the NYSE via a SPAC merger. Infleqtion raised US$550 million, debuting at US$14.25 per share and closing at US$15.59, a 14% first‑day gain....
Digital Broker Konkrd Just Changed How You Buy Health Insurance, Using AI
Konkrd, a digital broker founded by former iSelect executives, completed Australia’s first fully autonomous health‑insurance sale using its agentic AI platform. The end‑to‑end process guided a real customer through a needs analysis, policy recommendation, and final purchase without manual intervention,...
LaunchVic OG Boss Kate Cornick Departs to Become Tech Council CEO
LaunchVic CEO Dr Kate Cornick resigned after a decade to become chief executive of the Tech Council of Australia, succeeding Damian Kassabgi. During her tenure, Victoria’s startup ecosystem expanded to 4,400 firms and a $139 billion valuation. The move coincides with...
Seek’s VC Fund Is Conscious Uncoupling with Employment Hero
Seek Investments, the venture arm of ASX‑listed job portal Seek, announced the divestment of its remaining stake in HR platform Employment Hero, concluding an eight‑year partnership. Employment Hero now generates over $300 million in annual recurring revenue and serves more than...
UNSW Puts $35 Million Into Uni Startup Spinouts
UNSW Sydney is allocating $35 million to boost research commercialisation, including a $25 million pre‑seed fund and a $10 million investment in VC High Street Ventures, with the goal of launching 50 spinout companies by 2030. The pre‑seed fund will provide up to...
Techstars Sydney Is the Latest Victim of the NSW Government’s Ongoing Startup Purge
Techstars Sydney accelerator is shutting down after its three‑year contract with the NSW government expired, ending the state’s funding for the program. Over three cohorts the accelerator invested more than $6 million in 36 startups, with 58% receiving their first external...
Former Canva Exec’s Product Mapping Startup, Adora, Designs $9.9 Million Seed Round
Adora, an AI‑powered journey‑mapping platform co‑founded by former Canva product head Omar Salem, closed a $7 million seed round led by Blackbird Ventures. The tool automatically captures screens, interactions and user paths, turning them into live visual maps enriched with analytics...
Startmate Launches Social Enterprise Stream Backing Founders Taking on Society’s Biggest Problems
Startmate has added a dedicated Social Enterprise stream to its Launch Club pre‑accelerator, offering four to six fully‑funded scholarship spots for founders tackling social or environmental challenges. Applications close on March 1, with the cohort launching in late March. The program...
Deel Has $21 Million up for Grabs in Its Global Seed-Stage Startup Comp, The Pitch
Deel, the global HR and payroll platform, has launched The Pitch, an international competition offering a $15 million prize pool for seed‑stage startups. Up to 100 regional winners will each receive $50,000, while ten global champions can earn $1 million to accelerate...
Ladies, Bring an LLM: Most AI Assistants Are Feminine, Which Is Fuelling Sexism
AI voice assistants have surpassed eight billion units in 2024, and the vast majority default to female voices and gendered names. Research shows up to 50 % of interactions involve verbal abuse, with female‑embodied agents attracting significantly more sexual harassment than...
Atlassian’s First Investor Leads $8.55 Million Seed in Workflows Documentation Startup Fluency
Australian AI‑driven workflow documentation startup Fluency announced a $6 million seed round, led by Accel, Atlassian’s first external investor. The round, which also includes DST Global Partners and other venture firms, values the company at roughly $30 million. Proceeds will be used...
South Australian Startup Splose Raises $46 Million in Another Series A
Adelaide‑based Splose secured a $46 million Series A round, the largest ever for a South Australian SaaS firm, led by US growth equity firm Spectrum Equity with participation from Athletic Ventures. The funding follows rapid user growth to over 20,000 allied health...