News, views and analysis from A/NZ tech sector
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Hi there,
If you wanted proof that Australasia’s tech startups are breaking into the global scene, it’s surely in the news that Sydney venture capital firm Airtree has closed its third fund at $275 million.
The interest in the fund highlights Airtree’s success with its previous investments – which include unicorn Canva, Prospa which IPO’d earlier this year and fast growing 90 Seconds – as well as a maturing tech investment market.
After a dearth of VC funding just a few years ago, there are now more than 100 venture funds in the region – and in recent years Australia and NZ have created a new billion dollar tech unicorn every year.
In other news:
- Tradies get new weapon to combat tool theft
- TrustID challenges to establish Australian's digital identity
- Gartner's latest on where businesses are investing their tech spend
- Facial recognition to access porn? That'll be popular.
We also take a look at how Rip Curl integrated its global supply chain to open up economies of scale and enable the legendary surf brand to forge a competitive edge in the retail fashion market.
Enjoy the read,
Heather Wright
Editor
editor@istart.com.au
VENTURE CAPITAL
Airtree brings superfunds, cash to downunder tech startups
AirTree Ventures has secured $275m to ‘double down’ on early stage Kiwi and Australian technology startups…
Its third fund closed out by the Sydney-based capital firm, and at $275 million, it’s one of the largest of its kind in Australia.
“We have experienced the tough, lonely road ourselves.”
TRADE TECH
Simple tech to thwart a big tradie problem
And it’s not complicated…
It’s a simple enough idea – no fancy tech required (blockchain, we’re looking at you…), but an Australian app is making in-roads with tradies keen for assistance in the growing problem of tool theft.
The app generates police and insurance reports in a matter of a few clicks.
[Read more]
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DIGITAL IDENTITY
The fight for AU’s digital ID
You snooze, you lose: New ID framework looks set to eclipse MyGov…
Put together by the Australian Payments Council (APC) and funded by the Reserve Bank et al, Australia has a new player in its digital ID economy: TrustID.
Digital identity established by a private sector provider under TrustID will eventually be able to be used to access Government services, and vice versa.
[Read more]
TECH INVESTMENT
Local businesses spending up large on (some) tech
While others fall by the roadside…
Australia and NZ businesses are charging ahead when it comes to IT investment, with both countries forecast to see growth in spend well in excess of the global average this year.
Driving spend are modern BI, augmented analytics and robotic process automation software.
[Read more]
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INTERNET SECURITY
Facial recognition proposed for Australians accessing porn
Smile for the camera, please…
In another from the ‘what could possibly go wrong’ file, Australians may have to submit to ‘face verification’ before indulging in online porn under a plan touted by the Department of Home Affairs.
Intended to fight crime and identity theft, the services could also be used to provide age verification.
[Read more]
RETAIL SUPPLY CHAIN
Rip Curl stays ahead of the wave
Doing business better in real time…
Some classics don’t change. Australian surf wear brand Rip Curl still makes its iconic wetsuits in-house, to its own design.
Streamlining core business transactions for efficiency and value.
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