Sydney’s Booming Tech Scene - Elon’s Twitter Acquisition wasn’t the most exciting story this April!

Sydney’s Booming Tech Scene - Elon’s Twitter Acquisition wasn’t the most exciting story this April!

Everyone and their mother is talking about one thing: Elon Musk acquiring Twitter. It’s a tech story that’s broken into mainstream media; and we love it!

But don’t let that distract you from the equally exciting tech stories coming right here from the land down under. The Aussie tech scene is on fire, and you don’t want to miss out on this month’s top tech stories. 

Twitter wasn’t the only company acquired this month, Aussie’s very own software startup Instaclustr is being acquired by Nasdaq-listed tech giant NetApp.

“Today’s news is massive for ANU, it’s massive for Canberra, it’s massive for Australia and it’s massive for every university across our nation. Most of all, it is massive for Instaclustr”

Although the exact terms of the deal haven’t been disclosed, it’s estimated to be worth upwards of $500 million! 

 

And speaking about multi-million dollar deals, Sydney-based digital broker Stake recently raised $50 million to continue expanding across asset classes. This comes just months after their initial $40 million funding raise!

“The growth in our customer numbers and asset base continue to outpace last year and we’re blown away. We’re building an investing experience for the next generation of investors, and we’re excited to put our time and energy into redefining how Australia invests.”

 

Given the rapid rate at which Australia’s tech scene is developing, venture capital powerhouse Blackbird recently revealed their plans to raise at least $1 BILLION in the coming months (yes, that’s billion with a b!). After their successful early investment in Canva, they’re now looking to invest in early-stage startups to find Aussie’s next unicorn. 

“We want to be the first cheque in to a company. We want to invest hundreds of thousands of dollars in the beginning. We want to invest in startups that don’t have products and don’t have revenue.”

 

Blackbird’s plans show just how positive the market sentiment is in Aussie tech industry. And the government seems to be in agreement. 

The Australian Business Growth Fund (ABGF), a government-backed capital investor, just made their first investment of 2022. They put $11 million into homegrown SaaS startup Capsifi, the leading provider of software for business architecture and business model innovation.

“We have been very impressed by the careful and mutual consideration we have experienced  from ABGF, with a clear focus on making sure the growth potential of the business is realised.” 

 

It’s clear that venture capital firms and the government are very bullish on the Aussie tech scene, but what about everyday investors? Let’s take a look at market-leading crowdfunding platform, Birchal, to answer that. 

Birchal raised $3 million for itself in 63 minutes. That’s the second-fastest crowdfunding raise in Aussie’s history! 

“We were confident we’d reach our maximum target quickly, but really didn’t expect it would have been over as quickly as it did…We have been blown away by the response.”

 

And if all these stories and headlines aren’t enough to convince you that our tech industry is going to skyrocket, let’s take a look at what Founder and Executive Director at Tech Council of Australia, Alex McCauley, has to say.

“We want to head for the stars here because we're a long way behind, but not as far as people might think. Australia should have hundreds of tech success stories in the next few years"

 

This just goes to show that the growth in the Australian tech industry isn’t causing any complacency among leaders, and they’re still aiming to go even bigger. And if that’s the case, we can’t wait to see what happens next.

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