Tuesday, October 26, 2021

Superhero raises $40m investment since 2018 - on its way to being a Unicorn?




SUPERHERO CO-FOUNDERS JOHN WINTERS AND WAYNE BASKIN has secured another $15 million in funding, raising a total of $40m to date for its share trading platform that was founded in 2018.


Investors include 

Perennial Value Management, Regal Funds Management, Ophir Asset Management , Alex Waislitz’s Thorney Investment Group, 

Zip founder and chief Larry Diamond, and Afterpay’s co-founder Nick Molnar.


The business about 135,000 customers 

And has  launched the US share trading platform.


What it does 

In July, Superhero officially launched its superannuation offering, which now has about 2,000 members.


The product allows members to invest their super into exchange-traded funds (ETFs) and direct shares, without having to have a self-managed super fund, and is looking to build a Crypto ETF.


“There’s a whole workforce of millennials and younger workers who are embarking on their own wealth creation journeys, and they’re looking for new, tech-savvy ways to do so.Share trading is no longer a space that is reserved for the boomers and the wealthy,” Winters says.

Thursday, October 21, 2021

Opportunities are abounding in NSW - post lockdown




The NSW Premier Dom Perrottet launched 
The NSW Government’s  $96 million pilot program - in medicine and biotech in collaboration with NSW universities - that will help fund labs and pre-clinical trial spaces to enable early-stage RNA-based drug development, as well as bring private sector investment in mRNA and RNA therapy production to NSW.

With UNSW, Gabrielle Upton MP FAICD, Matt Kean MP and Stuart Ayres MP. 

Thursday, October 14, 2021

Rhipe agrees to A$408M acquisition by Crayon - ARN

Not quite a Unicorn - Rhipe started in our BSI offices with Doug Tutus - when he had an idea to rent software to Corporates - and set up a business called New Lease.

The business grew and in 2014 , Doug Tutus went overseas to raise money for an imminent listing on the ASX.

On this trip - he passed away suddenly 

The company listed under RHIPE - and grew from strength to strength

Rhipe has just been sold for $408m to Crayon 

What a story !! And what a legacy he has left for his family and those who were on his journey!

Interested in Grants


INDUSTRY ASSISTANCE - GOVERNMENT GRANTS  - Join us at a forum to hear more 

 





Join us next week to hear about how to maximise grants https://events.humanitix.com/export-market-development-grants-october-forum-powered-by-bbg



Export Market Development Grant (EMDG) - applications close 30th November for forward funding over the next 2 – 3 years under the new EMDG program – don’t miss out


Modern Manufacturing Initiative (MMI) - applications for Round 2 of the Integration and Translation funding streams will be announced soon – prepare now and don’t miss out


Modernisation Manufacturing Fund (MMF) - applications for Round 3 will open in early December – prepare now and don’t miss out


 R&D Tax Incentive - applications for 20/21 financial year R&D activities close on 30th April 2022 – prepare now and don’t miss out   



Export Market Development Grant (EMDG)

Under the new EMDG program, eligible SMEs are able to apply for forward grant funding over multiple years to cover eligible marketing and promotional activities from 1 July 2021.

Grants will target eligible export-ready SMEs with an annual turnover of less than $20 million at three stages of their export journey:

  • Tier 1: Eligible SMEs who are new to export – grants up to $80,000 over two years
  • Tier 2: Eligible exporters who plan to expand their presence in export markets – grants up to $240,000 over three years
  • Tier 3: Eligible exporters who continue to expand into new markets and make a strategic shift in their exporting business – grants up to $450,000 over three years

The nominal benefit of the new pre-approval EMDG is to provide certainty of finance to exporters as well as faster access to EMDG funds. The intention is for applicants to submit marketing plans for up to three years to enable them to formalise Funding Agreements with Austrade, identifying which of their proposed export marketing expenses will be supported, with payments to be made by Austrade on a milestone basis. The EMDG program is an entitlement program.


Peter,  Harvey and the team at BSI have been helping exporters maximise their grants for 20 years.


With this new programme - they will help you prepare  your export plan, a marketing budget lodge the application, help you with your reporting of your  milestones to Austrade and take you through your Audit of your milestones.

 

There are 2 interesting competitive based Manufacturing grants that the government is focusing on worth over $1 billion dollars


R&D Tax Incentive

Applications to claim 20/21 financial year R&D activities/ expenses close on the 30th April 2022 – the new rates of return are:  

FY 2020–21

·        Annual revenue <$20m – Company Tax Rate: 26% – Refundable Tax Benefit: 43.5% (if matched by tax losses) or 17.5% (when trading in profit)

·        Annual revenue $20m-$50m – Company Tax Rate: 26% – Non-Refundable Tax Offset: 12.5%

·        Annual revenue >$50m – Company Tax Rate: 30% – Non-Refundable Tax Offset: 8.5%

FY 2021-22

·        Annual revenue <$20m – Company Tax Rate: 25% – Refundable Tax Benefit: 43.5% (if matched by tax losses) or 18.5% (when trading in profit)

·        Annual revenue $20m-$50m – Company Tax Rate: 25% – Refundable Tax Benefit/2 tier benefit: 8.5% on eligible R&D expenditure which accounts for up to 2% of total company expenses and an additional 16.5% on eligible R&D expenditure exceeding the 2% baseline.

·        Annual revenue >$50m – Company Tax Rate: 30% – Refundable Tax Benefit/2 tier benefit: 8.5% on eligible R&D expenditure up to 2% of total company expenses and an additional 16.5% on eligible R&D expenditure exceeding the 2% baseline.


A few other interesting Grants 


Modern Manufacturing Initiative (MMI)

The $1.38 billion Modern Manufacturing Initiative (the initiative) is a key element of boosting Manufacturing capabilities and networks in Australia  with a view to build manufacturing capabilities and networks, lift productivity, create jobs, build global competitiveness and boost the export potential of Australian manufacturers.


and will run from  2020-21 to 2023-24. 


These grants will be assessed under three funding streams:


Manufacturing Translation Stream: commercialising research 


The minimum grant is $1m and the maximum is $20m. Capital investment is included.   


Manufacturing Integration Stream: connecting with global supply chains 


- the grant rate is 50% of eligible project costs. The minimum grant is $1m and the maximum is $20m. Capital investment is included.   


Manufacturing Collaboration Stream

connecting business, researchers, and investors to build commercial outcomes


 – the grant rate is 1/3 of eligible project costs. 


The minimum grant is $20m and the maximum is $200m. Capital investment is included.   


This scheme is project based is competitive 


The six national priority manufacturing sectors who can apply are:

Space, Medical Products, 

Resource Technology and Critical Minerals Processing, 

Food and Beverage, 

Defence, 

Recycling and Clean Energy


This scheme is project based is competitive 


Round 1 of this grant is now closed


HOWEVER


Round 2 plans to be open before Christmas with a 4 week window to apply. 


Let me know if you want us to let you know when this Round will be open 


If you are project-ready and in one of the six priority sectors, this forum is for you!

 

Manufacturing Modernisation Fund (MMF)


The Manufacturing Modernisation Fund (MMF) provides competitively assessed grants of up to $1m being 25% of total project costs to assist local SME manufacturers within the 6 national manufacturing priority sectors to modernise their factory by purchasing and installing new state of the art plant and equipment and upskill/ employ new staff.


Round 3 will open in December this year and close in late January. 


If this forum is for you, let us help you prepare your  project plans and application NOW to ensure a truly competitive application can be lodged.


 


 Peter, Harvey, Kylie, Linda, Sean, Mick and Linh and the team at BSI are working with Businesses now to prepare the necessary documentation in anticipation of the Round 2 opening dates.  

Tuesday, October 12, 2021

Zoom’s home run





Eric Yuan served as the VP of Engineering at WebEx from 1997, staying in the role for years after Cisco’s $3.2 billion acquisition of the company in 2007.


By 2011, he was getting frustrated in the job: with Cisco not being customer focussed - or offering a great solution to the mass market 


“So, together with some WebEx engineers  he formed Zoom - with a single-minded focus on creating a brilliant customer experience .


Yuan said at the time that 

“We don’t spend a lot of money to sell the product,” 


A bit of fairy dust 


In Jan 2017,  Zoom raised $100 million at a $1 billion valuation in a round led by Sequoia Capital 


The plan for this new $100 million was to scale by spending on marketing and global growth - and that it did!!!


The home run 


In 2019 it raised $350m in an IPO at $36 per share at a 10.5b valuation 


Today it’s at a share price of $250 valuing Zoom at circa $70B 


So VC Investors scored a 70X return from the Zoom deal .
A $10k investment world have generated $750k 


Where to from here? 


Zoom has taken a leaf out of Sequoia Capital’s book and has created a $100 million Zoom Apps Fund, with plans to invest anywhere from $250,000 to $2.5 million in companies across the video spectrum.


Zoom CTO Brendan Ittelson says "At the end of the day, we're looking at folks that are working with our ecosystem, be that Zoom Apps, integrations, hardware." They are focused on early-stage investments in companies that are starting to get traction.


Zoom hopes to help spark more development in the space, to make Zoom Apps into a platform as big and powerful as Zoom imagines it could be. 


Amazon committed $200 million to its own Alexa Fund, and Google has invested $100 million in lots of Google Assistant-related startups.


A cuppla hundred mill goes a long way toward starting a developer ecosystem of a platform! 

Sunday, October 10, 2021

Online Business - Oz Hair and Beauty ready to scale with VC



Oz Hair and Beauty founders,  and Guy Nappa, is ready to take this exciting online hair and beauty business to new heights, with hair and beauty industry expert, Ward Gauvin,  as Executive Chairman.
Congratulations to Anthony, Guy, the entire Oz Hair and Beauty team, and also to my colleagues atExciting times ahead. Bravo! #ozhairandbeauty #edisonpartners #growthequity #entrepreneurs #ecommercebusiness #hairandbeauty

 This is Shaf Dewani of Edison Growth Fund's   third portfolio investment together with We originated and led an investment group including BBRC Private Equity and Daniel Agostinelli 

Unicorns around the world


Thanks Anand Sanwal for this amazing article from CB Insights  market map sorts unicorns into 15 categories, from auto & transportation to supply chain & logistics. Our “Other” category includes renewable energy, space tech, ad tech, and more.

Data is as of 9/29/2021.


Most valuable private companies


The world’s most valuable private company is China-based ByteDance, in the artificial intelligence category. The company, which operates content platforms such as TikTok and Toutiao, reached a $140B valuation following an investment from Tiger Global Management in March 2020. 


The company raised a private equity round from China Internet Investment Fund in August 2018.


Rounding out the top 5 most valuable private companies are payments processor Stripe (valued at $95B), aerospace manufacturer SpaceX ($74B), payments platform Klarna ($45.6B), and collaborative online design tool Canva, which recently reached a $40B valuation following a $200M Series G round in September 2021.


Notably, ride-hailing company Didi Chuxing, which used rank in the top 5 unicorns at a valuation of $62B, went public in an IPO in June 2021.


Unicorn company trends by category

Fintech is the most highly represented category on our map, accounting for almost a fifth of all unicorns (19%). 


It is followed by internet software & services (17%), e-commerce & direct-to-consumer (11%), and artificial intelligence (9%).


The most valuable fintech unicorn is Stripe, with a $95B valuation as of March 2021. 


In internet software & services, the most valuable unicorn is Canva ($40B, September 2021).


In e-commerce & direct-to-consumer, the top spot goes to Fanatics ($18B, August 2021), which provides e-commerce, marketing, and merchandising for professional sports leagues and teams. ByteDance ($140B, March 2020) leads the artificial intelligence category.


Valuation distribution

ByteDance is the only private company considered to be a “hectocorn” (worth $100B+) — though Stripe is approaching hectocorn status, at $95B.


Thirty-eight private companies (4% of total unicorns) are considered “decacorns,” worth $10B+. Meanwhile, 24% of companies included in the global unicorn club are valued at exactly $1B.


Geographic trends

Since our last analysis in June 2021, the US has seen a slight decrease in its leading share of unicorns, now accounting for half of all unicorn startups (down from 51%). China, in second place (20%), held steady in the same time frame.

India claims the third spot at 5%, while the UK is home to 4% of unicorns.


Unicorn club growth

Seventy-one percent of the companies in the market map have joined the unicorn club since 2019. 


Since CBInsight last analysis in June 2021, the unicorn club has grown in size by 16%, from 728 to 842 unicorns. 


At this rate, the unicorn club is likely to break 1,000 by early 2022.




Saturday, October 09, 2021

Zip rocking New York

From Larry Diamond - CEO of Zip

G'Day -#NYC! Zip Co live in Times Square, the economic retail heart of New York City is a career pinnacle moment and fills this Aussie heart with such immense pride!

Ecstatic to see our continued growth in US and around the globe, with thanks to our network of leading retail merchant partners, and our incredible team of Zipsters who got us here. 

Kudos to our agency partners at R/GA for lighting up Times Square - a retail hub so bright you can see it from space. Much like the future of Zip!
#wearezip #fearless #timesquare #retail



Tuesday, October 05, 2021

Refundid raises $3m - another Aussie fintech going global




It’s all about customer experience says Paul Greenberg - E-retail Veteran  - who has recently backed Refundid through AP Ventures.

Brad, Judd, Joel and Ilan have formed Refundid - whose leading product is  a fintech tool designed to cut, or essentially eliminate, waiting times for refunds for products bought online.

Refundid takes responsibility of the refund and repays the client immediately. Refundid gets paid by the retailer once approved.
It effectively provides a short term loan to the retailer!

The founders get that  trust and positive relationships, encouraging repeat custom is a key ingredient of a succesful retailer.

The plan is to have 100 top-tier retailers on board within the next 12 months, says Brad Karney…..

And then go global!!