Alliance Partners

Wednesday, June 29, 2022

JCAl and David Sacks talking Startups and need for more runway

The gurus are saying that cash available for VC will  reduce by 75pc in next few years 

Those that have raised - make sure that you extend you runway to 4 years!!! Take the medicine - don’t wait to take the cuts and be in a death cycle !!

Don’t give up your liquidity right now 
Cash is King 

Tiger is out  - liquidity leaving the system - is there a lot of dry powder or is it already deployed? 

What do you think??

Here is the excerpt 




Here is the full podcast - if you are a startup - watch this podcast 


Monday, June 27, 2022

Melbourne deep tech Black.ai raises 5.4 million in a seed a round - with cctvs , machine learning and serious brain power




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 


https://www.afr.com/street-talk/turnbull-s-ai-robotics-bet-taps-investors-for-blockbuster-raising-20220419-p5aegf

Friday, June 24, 2022

Tim Draper talking at Webit - predicting the future and Bitcoin at $250 within 2 years

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 !


You are able to identify trend 5 years hence - what’s your secret? 


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 .


The  stock exchange is shitting itself , cryptos seem to be melting , InterStaff rates are rising - Vc valuations are down - where to from here 


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 

 


The verdict 


- 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


Defi - or Fintech where is change where is it heading 


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 


  • Raise fund in Bitcoin
  • Invest in Bitcoin
  • Paid on Bitcoin 
  • Entire system on Bitcoin 


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 ?


  • We need to  get over the speed bump and weed out leaders who are trying to take real estate from other leaders 
  • We need to trust each other, set direction and set employees and citizens free 
  • We need to Encourage politicians to shrink govt
  • We need to have Less imposition and more supporters of business and humanity

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

Thursday, June 23, 2022

The Quantum Computing Landscape




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 ….

  1. There are relatively few startups and those that are in play - there is significant support to help the grow

Or

  1. There is a huge barrier to entry for quantum startups with 15 identified on 2nd half of 21 


China is leading the Quantum race Globally


China ðŸ‡¨ðŸ‡³ 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 

Tuesday, June 21, 2022

Research and Development Tax Incentives

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:

  • the benefits offered by the R&DTI
  • who can apply
  • what R&D activities and expenditure are eligible
  • record keeping
  • when and how to apply.

Register for an upcoming session:


Guide to the R&D Tax Incentive

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:

  • types of companies that can apply for the tax offset
  • requirements for eligible R&D activities
  • tax rates that apply to small and large companies undertaking eligible R&D activities
  • records you need to keep to evidence your claim
  • how to apply
  • where to get further guidance.

Register for an upcoming session:


Guide to the R&DTI Customer Portal


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: 

  • establishing portal access for a principal authority 
  • authorising portal access for staff 
  • authorising an individual tax agent  
  • authorising a tax agency.

Register for an upcoming session:


R&DTI Roundtable

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 

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. 

Learn more about State Reference Groups.

Friday, June 10, 2022

Edrolo raises $40m by Blackbird, Airtree and 4 Superfunds




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 


Who is behind Edrolo - and their startup story 


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. 


The Mission and Vision 

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.” 


What Edrolo does 


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. 


Edrolo’s Market Share

 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. 


Blackbird’s view of its Investment 


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 

Why did Aware Super Invest?

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

Tuesday, June 07, 2022

Veridooh raises $5m series A - ready to scale



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 


Investors 

 EVP , Jelix Ventures, Aconex co-founders Leigh Jasper - Saniel Ventures and Rob Phillpot - Gravel Road Ventures.


Customers 

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 


What Veridooh does 

It tracks ads specifically for out-of-home (OOH) advertising.


Mo’s 💎 gem


“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."


business News Australia Sourced

Inauro raises $3m from strategic customer SafetyCulture




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 

  • The safety app SHEQSY 
  • AI video analytics platform Unleash Live in 2021 ($8m investment )
  • Microlearning business EdApp.

GO1 achieved a $2B valuation with a $100m cap raise



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. 


The investors 

 AirTree Ventures, Blue Cloud Ventures, Five Sigma, Madrona, Salesforce Ventures, and SoftBank Vision Fund 2.


What it Does 

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.


What the Investors Say 

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.


The CEOs BHAG

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 - Sydney based business video testimonial platform raises $8m Amin a seed round



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.

 

Investors

Investors include US-based VC Stage 2 Capital and Sydnery’s OIF Ventures, Twitter global product lead Oji Udezue and Archangel Ventures Partner Rayn Ong. 


What Vouch Does 

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. 

Zurnamer’s gem 💎 

“Its all about building a great product that has been  tested and validated on a global stage” - he said.

Wednesday, June 01, 2022

Surfs Up with Fliteboard



Surfs Up with Fliteboard  as  it’s  founders and management have been backed by blue chip investors - including

  • Victor Smorgon Partners 
  • Afterpay’s Anthony Eisen, 
  • Josh Liberman
  • Golfer Adam Scott.
  • Andrew and Paul Bassat 
  • Xero founder Rod Drury