This Week in Australian Startups - 16th November, 2022
This Week in Australian Startups - 16th November, 2022
“We know who you are”
The AFP claims to have identified the hackers behind the Medibank data breach. Whilst that’s great news, data and privacy laws in Australia are still extremely backwards, when compared to the EU (GDPR) and California (CCPA).
When I lived in London, it was a breath of fresh of air knowing that I was in control of how my personal information was handled, and that there were real consequences when companies didn’t broke the rules.
Australia has a habit of being reactionary when it comes to change (especially if it’s a regulatory change), and a reaction is exactly what’s happening now.
Albo isn’t wrong, yes Medibank was attacked. But it’s also their responsibility to ensure data remains safe, be fully prepared for attacks and have measures in place if they do occur. These are firstly data breaches, not simply attacks, and the onus lies on companies like Optus and Medibank for not having better security and processes in place.
It’s not just cybersecurity either. Just last week I was downloading a white paper, and in order to download it I was forced to receive marketing email by the company, and have my email shared with a 3rd party organisation who would also be able to send me marketing emails. In countries governed by GDPR this would be a violation, and in my opinion should be here in Australia too.
The breaches don’t just stop with high profile cases mentioned above, new data from the Office of the Australian Information Commissioner covering the first half of 2022 revealed it had been alerted to 396 breaches involving companies with revenue of more than $3 million.
Australia is taking action, and reforms have been proposed including much more severe penalties. I welcome these reforms but hope we see our own Australian version of GDPR/CCPA soon as well. If you’re really interested, here’s a detailed comparison of GDPR and the Australian Privacy Act.
Top News
Amazon mass layoffs will reportedly ax 10,000 people this week, more here
Elon Musk’s Twitter Is a Scammer’s Paradise, more here
Laid off from your tech job? Day One wants to give you $100,000 to start a company, more here
Mike Cannon-Brookes just had a massive win in his battle for the soul of energy giant AGL, more here
Google to pay $391.5 million in location tracking settlement with 40 states, more here
Europe Prepares to Rewrite the Rules of the Internet, more here
What the Hell Happened to FTX? More here
Apple faces new lawsuit over its data collection practices in first-party apps, like the App Store, more here
Nike is still trying to make NFTs happen with .Swoosh, more here
Inside Elon Musk’s first meeting with Twitter employees, more here
Australian Funding Rounds
Clean energy software startup Orkestra charges up on $1.1 million Seed raise, more here
Former Hey You founder raises another $6.2 million for hospitality ordering startup Ordermentum, more here
ULUU wants to solve the plastic crisis with seaweed, raises $8 million, more here
Product management software solution, Sauce, raises $2.3 million Seed round, more here
Vexev, the vascular imaging medtech raises $8.5 million, more here
Logistics tech startup Ofload lands $60m in Series B funding, more here
Cultured meat startup Vow raises $73 million Series A and launches its first high-end culinary brand, more here
Healthtech firm, WearOptimo, has lands a $5 million cash injection, more here`
International Highlights
Kara Technologies, a Kiwi startup helping deaf people with sign language, raises NZ$1.3 million Seed round, more here
Data application builder Quix bags £11m Series A, more here
Faradai raises £2m as climate tech funding keeps momentum, more here
Warner Music Group backs metaverse startup Anything World in £6.6m round, more here
Wolt and Einride-backer EQT Ventures closes €1bn fund for early-stage startups, more here
BeZero Carbon raises £42m for environmental scoring platform, more here
SaaS startup Lentra raises $60m, HDFC partially divests stake, more here
Poland’s Ramp raises a $70m Series B despite crypto crash, more here
Owl Labs Raises $25 Million in Series C Funding Round Led by HP Tech Ventures, more here
BasiGo to kick-off EV assembly in Kenya after $6.6M funding, more here
Events
Melbourne: Startup Legal Foundations, November 17
Online: Stacking the Odds with Stephanie Carullo, COO – Box hosted by AirTree, November 17