Oz Startup News – Thursday, 12 April 2018


Daily Digest

Australian venture capital investment hit $130.5 million in the first three months of 2018

Venture capital investment in Australia reached $US130.5 million across 16 transactions in the three months to March, according to the analysis by KPMG.

Significant deals included graphic-design website Canva’s $US40 million Series C funding round, which valued the Sydney-based startup at $US1 billion.

Other deals recorded included data room software startup Ansarada’s $US18.92 million Series A round and Adelaide-based space internet of things startup Myriota’s $US15 million Series A round.


By Chris Pash from Business Insider

Today’s Featured Article

Coca-Cola Amatil launches start-up program to find new sources of growth


Coca-Cola Amatil will invest at least $10 million over the next 12 months in start-ups in an attempt to find new sources of revenue growth outside its core beverages business.
Often criticised for being slow to invest in innovation and too reliant on its mature carbonated soft drinks business, Coca-Cola Amatil has responded by creating a new platform, dubbed Amatil X, and an investment program, AX Ventures, to invest in emerging companies and concepts capable of helping the company grow top-line revenues.

By Sue Mitchell from The Australian Financial Review
(Google Link)

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Delivery startup Sendle takes on Australia Post with price guarantee as postage competition continues

Australian parcel delivery and logistics startup Sendle is continuing to take the fight to incumbent postal operator Australia Post by offering a guaranteed lower price for national parcel sending for Australian small businesses.
Implemented from the end of March, Sendle is now guaranteeing it will ship 500g to 25kg parcels around Australia for up to 70% cheaper than rates offered by Australia Post’s parcel post service, with founder James Chin Moody saying SMEs will save, on average, 15%.
By Dominic Powell from Smart Company

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New AR app puts technology to commercial use

An Australian start-up has launched a world-first augmented reality app that puts Apple’s exciting ARKit framework to use for a genuinely commercial purpose.
Realar Places gives builders the ability to showcase off-the-plan houses by placing a virtual house in a real space for buyers to walk through and experience in life-sized 3D
By 61 Bit

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Australian tech industry at a crossroads: Daniel Petre


The Australian IT industry is at a crossroads and it has a choice: participate as a producer of the world’s greatest applications and services or just be a user, former ninemsn founding chairman Daniel Petre said on Wednesday.
Speaking at the AWS Summit in Sydney, Petre, who is now a partner at venture capital firm Airtree and an adjunct professor at the University of New South Wales, said we need to decide whether or not we are going to produce ‘vertical use cases’ for technology or ‘just use somebody else’s.’
By CIO Magazine

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Startups, scaleups and digital disruptors – both within and beyond Australia –  are being invited by Qantas Group to apply for its second AVRO Accelerator program, following on from the first last year.
Run in partnership with Slingshot, the program will provide entrepreneurs with funding and mentoring as well as access to Qantas’ domain expertise, anonymized data, and insights to help them accelerate product development and customer traction.

By James Harkness from Dynamic Business

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Don’t build a company – focus on your value proposition and the problem you’re solving

Startups are the new black. Approximately three startups are founded every minute. More than $50 billion in venture funding is invested in startups every year.

But nine out of ten startups will fail within three years of being founded. Not great odds. So why do founders keep at it?

By Jamie Pride in Startup Daily

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Australian Parkinson’s disease researcher Global Kinetics just scored $7.75 million in venture capital

Venture capital firm Brandon Capital today announced a $7.75 million investment into Global Kinetics Corporation which has a device to help sufferers of Parkinson’s disease.


Melbourne-based Global Kinetics was formed in 2007 to develop and commercialize its lead product, the KinetiGraph, a wrist-worn device which measures the symptoms of Parkinson’s and provides clinical reports to support care

By Chris Pash from Business Insider

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Sydney startup Airmow uses satellite imagery to help customers get lawn mowing on demand

If you’ve ever seen a certain green trailer adorned by a white silhouette of a man with a fetching hat on your street, you could be forgiven for thinking all is trucking along just fine in the world of lawn mowing.

Recently launched Sydney startup Airmow, which connects customers who need lawn mowing on demand to contractors in their area, would say that in fact, the market is ripe for change. As co-founder Ahmed Ismail said, “We jokingly say there has been no real innovation in this industry since the invention of the lawnmower, which incidentally was Australian too.”

By Gina Baldassarre from Startup Daily

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