Keaton, Sebastien, Karthik and Phoebe from video #ai tech company black.ai , have just raised a $5.4M Seed+ round from the likes of Jelix Ventures, Right Click Capital, R3i Ventures and In-Q-Tel (connected to the CIA)
Their seed round of $1.2m was funded by Blackbird Ventures, Right Click Capital, Pan Group, Canadian VC firm Saltagen Ventures, Macquarie Bank’s head of personal banking Ben Perham, and William Tunstall-Pedoe, who was the entrepreneur behind the voice recognition system that became Amazon’s Alexa.
The seed round was raised after completing the Sydney Startmate program in 2017, securing $75,000 in initial funding.
Black.ai are ready to scale up with the help of insightful investors including Alon Greenspan, Andrea Gardiner and Ulric Ferner bodes.
What Black.ai does
Black.ai is a platform that can map what’s happening pretty much anywhere in a physical environment using data from CCTVs and movement sensors. It is able to understand and generate insights about how humans interact with each other and their environment.
Black.ai have created automated computer vision software, to let organisations watch and analyse the behaviour of their customers via cameras, and create deep technology to analyse behaviours
The deep tech ai company started off developing and deploying its robotics and artificial intelligence solution into Australian supermarkets (identifying people ringing up the wrong vegetables at the tills!)
Technology used in many industries from mining - automating parts inspections, and automate mineral grading to health and retail!
Black.ai wants to compete with the Amazon Go store technology, and with Google’s robotic automation technology.
Is big brother watching you?
Click here for more information
https://lnkd.in/dFmbA5pa
You might want to read what Malcolm Turnbull is up to in the realm of AI
Tim Drapers fireside chat at Webit
We are at an exciting time and entering an incredible future - where geographical borders are opennng up
- where we have trust and freedom to do business anywhere with Bitcoin as an enabler to freedom and breaking down borders - Tim Draper tell Webit -
Leaders who want to maintain the status quo are threatened by freedom and open borders -
War is expected by leaders trying to maintain the status quo - dinasour leaders are scared - this is a roar of a dying lion
Enlightened leaders will set people free and trust humans to do right thing and operate from wherever they may be - they will remove borders take down trade barriers and constraints
This is an exciting time for humanity
The future world is no longer command and control from top . We have an Interesting and exciting Future - where we are striving for one people !
I am continually meeting entrepreneurs and innovators (sometimes 8 a day ) who are showing me what world is going to look like . We have many Competitions , events , the Show “meet the Drapers” with 30m viewers attracting better entrepreneurs , start up houses .
We are in the business of finding and developing entrepreneurs - helping the best of them to be succesful - giving away money and placing our trust in entrepreneurs .
We go through Cycles - splurge and purge - and both are needed
Biggest companies came from worst of times and best of times
- Google Uber and Airbnb came at bottom of market
- Amazon at top where valuations high
Splurge is where money is freely available and there is a bill market - ideas are formulated - massive risks are taken ….
We are going though a purge - a bear market - and in these times innovation thrive - people will come up with good models to show profitability
Stressed times forces entrepreneurs and innovators to be more creative
Stay lean focus what really matters
It’s Harder to raise money
Entrepreneurs need to focus on how to Make money and how to build distribution channels
- it’s a bright future - we need to get past the speed bumps - of bad leaders who try to command and control - and move towards those good leaders who will open borders and trust their people without having to micromanage !
Freedom and trust - are powerful states that will enable governments to Deregulate and lower taxes .
Connection and collaboration brings about
Trust and freedom - which brings an abundance of opportunities vs scarcity based thinking in a world of command and control
It’s the young world that is the abundant world
It is the old world that is based on - command and control - with the creation of false geographical borders
People do better through collaboration and competition
Colllabottition
Draper estimates that Bitcoin will reach $ 250k in a few years and will be pervasive
It’s Not as expensive on transaction as the banks
Dow - creates new forms of collaboration
Allow shareholders , employees and customers to benefit from growth - where All stakeholders beneficiaries
Dow Opportunity gives more people a piece of Success power currency
Bezos and Musk have done extraordinary things we need to honour them - How could all stakeholders be beneficiaries of success - feel ownership of the experience?
1st Dow was Bitcoin - benefited people in many places
Nigeria - has another currency - not part of corrupt govt currency that’s party of rampant inflation
Argentina - can use Bitcoin keep from being trapped in an environment of hyperinflation
Poor have an opportunity to break through cycle of poverty
Dows major effect allow innovators to bring a part of society up
Defi - decentralisation of finance
Defi Vs Fintech
Defi is Fintech!
Draper’s ideal economy is where ha can
No need for layers of accountability
Blockchain keeping records
Smart contracts created
Micropayments can be made
What can we do get over the current hump and and have a better world sooner
Trouble in Ukraine and Russia - shit is happenning - internet rates are rising , inflation is on the horizon - it’s stressful . What can we do ?
As a VC we give money and and put our trust in them - More often than not - live up to trust
Message to Business owners and political leaders
The more you trust your people the less you have regulate , the freer they become , the innovative they become and the bigger your economy will become
Positivism is contagious and is a shining light
Webit’s aim is to create resilient and sustainable world worth a desirable future where people feel happy
Onwards and upwards
Quantum computing can solve some wicked problems - from limiting global warming to delivering game-changing reductions in drug discovery times.
Investment (both private and public ) in Quantum computing is expecting to soar - and has actually doubled from 700m to 1.4b in 2021 with massive benefits identified in life sciences and pharmaceuticals, chemicals, automotive, and finance—which can add as much as $700 billion in the next 10 years .
Barrier to Entry for startup Quantum Companies
There have been 15 new quantum startups in 2nd half of 2021 however most of the funding has been directed to Series A, B, C, and D companies.
This can be interpreted in a number of ways ….
Or
China is leading the Quantum race Globally
China 🇨🇳 seems to be at the forefront of Quantum - where significant government funding has been allocated(15.3b) Twice as much as Europe and 8 times as much to the USA
In 2021 China holds 53 patents , Japan, 15,Europe 12 and USA 10
The problem - A massive Talent Gap
There is a massive talent gap inhibiting Quantum computing growth .
People need to be upskilled and reskilled into the sector - with an estimated 350k needed on the sector
Only 29 of the 176 universities worldwide offer master’s degrees in quantum technologies. Almost half of these programs (41 percent) are in the United States.
When comparing active job postings for quantum computing experts to the number of graduates ready to fill these positions each year, demand outpaced the number of graduates by three to one.
The talent gap for quantum technology jobs could be addressed with upskilling programs for talent in related disciplines.
McKinsey has created a detailed report on Quantum Computing and Communications that can be found here click here
Join representatives from the Australian Taxation Office (ATO) and AusIndustry to learn more about the Research and Development Tax Incentive.
This session aims to introduce you to the R&D Tax Incentive and guide you through key eligibility requirements. If you are new to the program, we highly recommend attending this session prior to submitting an application.
What you will learn:
Register for an upcoming session:
This session gives an overview of the eligibility requirements for the R&D Tax Incentive so that you can determine if the program is right for your company.
You'll learn about:
Register for an upcoming session:
As of July 2021, all applications for registration must be submitted online through the R&D Tax Incentive customer portal.
In this session, you'll learn how to complete the authorisation process and login to the portal for the first time, including:
Register for an upcoming session:
We work together with businesses, R&D advisers and industry to improve program administration. This includes the national R&D Tax Incentive Roundtable (the Roundtable) that brings together R&DTI key stakeholders' broad viewpoints and State Reference Groups (SRGs) to discuss operational matters that relate to the R&D Tax Incentive at state and territory level.
Learn more about the R&DTI Roundtable.
State Reference Groups (SRG) forum Roundtable outcomes with the tax agent community.
Our forums provide an opportunity to discuss program administration at local and regional levels.
Participants share experiences and discuss operational matters. We communicate common issues across SRGs to the Roundtable for national-level discussions.
Education Company Edrolo has just raised a $40m series B fund led by Blackbird Ventures , and supported by Airtree and a bevy of Superfunds including with Aware Super, HESTA, NGS Super and Telstra Super
Edrolo’s team led by Ben Sze, CFA, Jeremy Cox and Duncan Anderson are kicking goals in Education
They left their jobs at Google and Goldman Sachs with the mission of helping spread the wisdom of our very best teachers and did this by creating curriculum-specific tutorial videos for final year high school studies.
Edrolo’s mission is simple; to improve education.
Their vision - to have one million Year 7 to 12 students using its resources by 2025 – 300% growth in just three years.
Ben Sze sums it up when speaking to Simon Thomson of Startup Daily
“This is our reason for being, and a significant responsibility – something we don’t shoulder lightly. The Edrolo team, of almost 200 people, work on this every day. We believe we can make the biggest difference, and impact, by focusing on enhancing the 6,000+ hours a student spends in their secondary education.”
Edrolo has broken down the curriculum into its atomic parts to create content and resources and is now regarded as the core resource for teachers and students throughout each school day.
It has expanded video to encompass print textbooks and Edrolo Standard, a product combining interactive video theory, formative assessment, exam practice and rich data for teachers.
Teachers are able to see where students get stuck and have through Edrolo the content and activities to make sure students progress and learn.
In 2021, hundreds of thousands of students watched over 71 million online videos and over 106 million pieces of content through Edrolo.
Over 250,000 students in over 1,100 schools are using Edrolo, and the signal of love from these schools gets stronger every year.
Their first capital raise 10 years ago was with Startmate and Blackbird - with the vision of going global from day 1 - and their investors are delighted and are continuing to support their growth with a series B capital raise
Jenny Newmarch said the fund is looking to invest in companies have a positive impact on its members in their daily lives.
Edrolo is impacting millions of lives - in Australia and globally and have been instrumental in supporting teachers and students during school closures and Australia’s forced need to embrace remote learning.
“As the super fund for hundreds of thousands of Australian teachers, Aware Super is proud to invest in such a great Australian innovation story, supporting the essential work of our educators every single day.”
https://lnkd.in/gGvn467p
Sydney Based founders Mo Moubayed and Jeremy Yang of Ad tracking software company Veridooh has raised $5 million in an Series A to venture into international markets
EVP , Jelix Ventures, Aconex co-founders Leigh Jasper - Saniel Ventures and Rob Phillpot - Gravel Road Ventures.
Veridooh has over 140 clients in Australia and New Zealand, including Google, Unilever, Amazon, McDonald’s, Canva, Samsung and Bonds. They also partner with the likes of Omnicom Media Group, GroupM, and IPG Mediabrands to optimise their clients d campaigns
It tracks ads specifically for out-of-home (OOH) advertising.
“If you can remove any doubt about the delivery and performance of out-of-home (OOH) advertising then you can increase buyer confidence while putting OOH advertising on a level, if not better, playing field than other digital channels, such as online."
Founders of Inauro, Craig Kesby and Angus Kennard, have raised $3m from SafetyCulture with a view to help it’s customers create a single source of data .
Enabling the right information is available to the right person at the right time .
Inauro takes data from all sources and consolidates it into meaningful relationships information - creating significant efficiencies from its workflows .
(Like Solvexia or Flatworld?)
SafetyCulture CEO Luke Anear, invested as he is continually looking to find new ways to innovate and automate processes so tasks can be done to higher standards, jobs become safer and teams can concentrate on the most meaningful work.
"Today, SafetyCulture collects data from 800 million workplace checks a year, a lot of which are conducted manually. Inauro will help us to automate many of the equipment checks for our customers," he says.
Other recent SafetyCulture investments since Covid include
Elearning platform Go1 has achieved a valuation of more than US$2 billion ($2.78 billion) following a $100m capital raise .
Elearning , upskilling and reskilling is a hot space both in Australia and Globally.
AirTree Ventures, Blue Cloud Ventures, Five Sigma, Madrona, Salesforce Ventures, and SoftBank Vision Fund 2.
GO1 is one of the world’s largest corporate education content hubs for on-demand training and resources, expanding its reach in Southeast Asia with offices in Malaysia and Singapore, and in April acquired Swiss-French group Coorpacademy .
The five million-plus learners worldwide in the Go1 database have access to a wide range of content from partners including Pluralsight, EdX, Harvard Business Publishing Corporate Learning and Coursera.
Madrona managing director S. Somasegar is excited that GO1 is uniquely suited for the far flung remote workforces of the next decade.
Five Sigma founding partner Peter Mobbs said that in order for corporations to retain and grow their teams they need to invest in their people and 'upskill ' their capabilities.
Go1 CEO and co-founder Andrew Barnes says the funds will be used to expanding its capabilities and offerings to ensure users have access to education that supports their growth with a BHAG of supporting one billion learners globally.
Welcome to the Nexttech Revolution
Vouch founded by Gary Zurnamer, (a former Canva account executive )and David Stirk in the height of Covid in March 2021 - has just raised $8 million in a Seed round.
It’s a video collection platform that makes it easy for teams to capture testimonials, feedback and team communications and counts Atlassian, Canva, Dropbox and Culture Amp among its early adopters. It integrates with workflow platforms such as Slack, Microsoft Teams, Notion and Hubspot.
Vouch allows users to create questions and share a single recorder link with multiple respondents to collect video at scale. The clips can be edited and come with automatically-generated transcriptions, while there are embed options to share the clips.
Stage 2 Capital MD Jay Po said Vouch makes it incredibly easy for businesses to collect video.
“This simplicity and versatility has helped it spread like wildfire within organisations and throughout different industries,”
Zurnamer says that Thousands of teams, across 82 countries have used it to create videos that have been watched more than 100,000 times.
“Its all about building a great product that has been tested and validated on a global stage” - he said.
