The Startup Retro with Will Richards & Gemma Clancy
The Startp Retro - Your insider view on Australian startups and venture capital
The Startup Retro is a weekly podcast that gives an insider's view on Australian startups and venture capital by curating the most important startup news and providing useful context behind the stories. The show is hosted by Will Richards and Gemma Clancy, co-founders of Overnight Success - a weekly newsletter with thousands of subscribers and a mission to make the Australian startup ecosystem more transparent, accessible and connected.
The Startup Retro is a Day One® show. Day One is the podcast network dedicated to founders, investors, and operators.
Hosted by Will Richards & Gemma Clancy
Subscribe ▾
Square Peg's global shift, Linktree's 2023 & SA rocket launches
In this week's episode of The Startup Retro, host Will Richards and guest host Cheryl Mack from Aussie Angels and The First Cheque podcast break down the latest in Australia's startup and venture capital ecosystem. They cover Square Peg's ambitious new funds, the 2023 financial results of Linktree, and a groundbreaking partnership that will see hypersonic rocket launches from South Australian spaceports in 2025. The duo also discuss SafetyCulture's latest $75M raise, Algenie’s mission to replace plastics with algae, and interview Emma Grife from Startmate about their latest cohort. The episode wraps up with a useful resource for B2B startups navigating their sales funnels.
Turo partners with Uber, AirTrunk's $23B sale & agtech spotlight
In this week's episode of The Startup Retro, host Will Richards and standing in for Gemma Clancy this week, Cheryl Mack, dive into Uber's new partnership with Turo after shutting down its Car Next Door acquisition. They also discuss Premier Capital Partners' new fund, AirTrunk’s $23 billion sale, and Cheryl’s experience at the Startup Daily Awards. The episode also features a deep dive into Safe Ag Systems, an agtech safety platform. Plus, catch the latest startup raises and Will’s pick for Knowledge as a Service (KaaS).
$66M fund, AustralianSuper's loss & CAST's debut
In this week's episode of The Startup Retro, hosts Gemma Clancy and Will Richards explore three exciting new funds and initiatives in the Australian startup ecosystem, including the launch of the $66 million 66ten fund by the Walter and Eliza Hall Institute, and Main Sequence's new Atmosphere program. They also cover the latest venture from SEEK co-founder Paul Bassett, Amplify, and discuss AustralianSuper's significant $1.1 billion write-off in their Pluralsight investment. The hosts highlight standout startups, including WhyHive, a data analysis tool, and Cropify, an AI-powered grain grading AgTech company. The episode also features an interview with Gav Parry on the launch of the Centre for Arts, Sports and Technology (CAST), and concludes with KaaS recommendations on essential startup content and a special announcement about a new co-host joining next week. Headlines To get all the links to the stories we mentioned in this episode, you can read this week’s Overnight Success newsletter Three New Funds and Initiatives • 66ten Fund: WEHI’s $66M fund to back biomedical innovation. • Seedlab Australia: Secures an additional $7M from Woolworths to support food, drink, and sustainable products. • Main Sequence’s Atmosphere: New program to transform cutting-edge research into venture-scale businesses. Paul Bassett Launches Amplify • Amplify aims to improve trust in democracy through events, online conversations, and sharing of evidence. AustralianSuper Write-Off • AustralianSuper writes off $1.1B in their Pluralsight investment, which had acquired A Cloud Guru in 2021.
Uber shuts down Car Next Door, Sitemate acquires Nomad Fleet
In this week's episode of The Startup Retro, Gemma and Will explore Uber's decision to shut down Car Next Door, its Australian carshare division, after acquiring the startup for $105M. The hosts share some positive news from the startup ecosystem, including Sitemate’s acquisition of Nomad Fleet, Bindimaps securing a key partnership with Australia Post, and the latest developments in the SunCable renewable energy project. In the startup raises segment, the hosts spotlight space-tech innovator Metakosmos and childcare-focused AI startup LoveHeart.ai. Headlines • Uber scraps Carshare division after acquiring Aussie startup Car Next Door for $105M • Sitemate acquires Nomad Fleet for $2M • BindiMaps navigates a path to partnership with Australia Post • SunCable solar farm in NT gets Federal government approval
Breakthrough Vic saga, FMiA update & Slice's US expansion
In this week's episode of The Startup Retro, hosts Will and Gemma discuss the latest developments in the Breakthrough Victoria saga, including the departure of its CEO and ongoing legal battles with a founder. They also provide an update on the progress of the Future Made in Australia (FMiA) legislation, which is currently being debated in parliament. The hosts then cover the release of Australia's updated National Science and Research Priorities, focusing on key areas like net-zero transition and Indigenous knowledge systems. In addition, they highlight two new funds deploying capital into Aussie startups and feature their favourite startup raises of the week. To top it off, Gemma and Will interview Slice co-founder Farouk Ismail, who shares insights on their decision to take international funding and offers advice on expanding into the US market. The episode concludes with their Knowledge as a Service (KaaS) podcast recommendations. Headlines Breakthrough Victoria • CEO exits amid ongoing legal battle with a founder. FMiA Update • Heated debate continues in parliament. • The government could proceed with the funding regardless of the legislation’s outcome. National Science and Research Priorities • Minister Ed Husic outlines new imperatives for science investment in Australia. • Key focus areas include transitioning to net-zero, supporting healthy communities, elevating Indigenous knowledge systems, environmental restoration, and national security. New Funds • CoVentures, a single-GP fund managed by Maxine Minter, closes its first fund with $5M+. • Proto Axiom emerges with new capital to deploy into Australian startups.
OneVentures' 7th fund, accelerator cohorts & Google monopoly ruling
In this week's episode of The Startup Retro, Gemma and Will explore the latest happenings in the Australian startup ecosystem. They discuss OneVentures' ambitious plans with their 7th fund, aiming to raise $200 million, and review the firm's impressive history. The hosts also highlight the new accelerator cohorts from Startmate and Remarkable, before diving into the significant US court ruling that declares Google an illegal monopoly. To round off the episode, they feature their top startup raises of the week, including Eyeonic's innovative glaucoma screening technology and Rich Data Co's AI-powered credit assessment platform. Headlines • OneVentures raising 7th VC fund, aiming for $200m (AFR) • Startmate Accelerator Winter 24 cohort announcement (Startmate) • Remarkable Accelerator cohort announcement (Smart Company) • US Court decides Google is an illegal monopoly (The Conversation) • Pulse Check Newsletter - August Edition
Canva's AI buy, SAVCF report & BFF grant axed
In this week's episode of The Startup Retro, hosts, Will & Gemma delve into Canva's acquisition of Leonardo AI and feature an interview with Elli Hanson from Side Stage, one of Leonardo's investors. The hosts also discuss the South Australian Venture Capital Fund and the state government's independent report on its effectiveness and uncover the secret termination of the federal government's Boosting Female Founders (BFF) grant program. And to wrap up Gemma & Will highlight the latest startup raises, including Monty Compost, an industrial composting tool, and Slice, a bootstrapped fintech in the travel industry. Headlines • Canva Acquires Leonardo AI • SAVCF Government Report • Boosting Female Founders Program Termination
Coinbase hire, Canva rival, raises: Fundable, Preve, Cuttable
In this week's episode of The Startup Retro the discussion begins with Coinbase recruiting a former Treasury director and ASIC economist, and continues with an analysis of Microsoft entering the design market with a Canva competitor. They also explore the latest annual report on crowdfunding, revealing the state of the market and key figures. Will and Gemma highlight the most interesting startup raises of the week, including Cuttable's creative automation platform and Preve's AI-driven physiotherapy solution. They wrap up with Knowledge as a Service (KaaS) recommendations, featuring a docuseries on aged care and a lighthearted book series. Headlines • Coinbase Recruits Former Treasury Director • Microsoft's Canva Competitor • Crowdfunding Annual Report
Blackbird Targets, EVP Funds, ExoFlare, HammerTech
In this episode of The Startup Retro, the hosts delve into the significant headlines from the past week. The discussion begins with Blackbird Ventures' latest data on their gender-based investment targets and continues with an analysis of EVP's new fund structure aiming for $500 million in assets under management. They also explore a report on government grants to SMEs, revealing that a large portion of funds go to low-performing companies. The public hearings on AI inquiry and the implications for startups developing AI tools are covered as well. Will and Gemma highlight the most interesting startup raises of the week, including ExoFlare's biosecurity threat management platform, and discuss the importance of accurate and detailed reporting on VC funding with Kirstin Hunter and Preethi Mohan from "Funding the Balance." The episode wraps up with Knowledge as a Service (KaaS) recommendations, featuring articles on VC engagement with media and practical tips for using ASIC lodgements for competitor research. Headlines • Blackbird Ventures' Gender-Based Investment Targets • EVP's New Fund Structure • Government Grants Report • AI Inquiry Public Hearings • Funding the Balance Initiative
Q2 Deals Surge, AngelClass Launch, Climate Tech, Her Tech Circle
In this episode of The Startup Retro, the hosts dive into the most significant headlines from last week. The discussion includes the new Cut Through Venture report on startup investments, the launch of AngelClass, insights into Climate Tech funding challenges, and the birth of Her Tech Circle from the ashes of Girls in Tech. Will and Gemma also highlight notable startup raises and share their picks of the week. Headlines • Cut Through Venture report: Teasing an interview with Chris later in the episode. The report reveals 99 deals in Q2 with $1.5B invested. • AngelClass launches with an app allowing anyone with $10K or more to invest in startups without being classified as sophisticated investors. Elliot Spiegel from Inhouse Ventures takes advantage of Australia's 20/12 rule, enabling 20 investors in any 12-month period without needing a full prospectus. • Climate Tech funding challenges: ClimateSalad claims about 100 out of 600 members need funding ASAP to survive the year, amounting to ~$100M. Despite a lot of pre-seed stage funding, there are barriers such as public perceptions, regulatory hurdles, and physical barriers related to the grid. • Girls in Tech closes up shop and in Australia they rebrand as Her Tech Circle, continuing to support and inspire women in tech despite funding challenges due to a decline in DEI funding in corporates. Top Headlines • Cut Through Venture report: The report reveals 99 deals in Q2 with $1.5B invested. • AngelClass launches with an app allowing anyone with $10K or more to invest in startups without being classified as sophisticated investors. Elliot Spiegel from Inhouse Ventures takes advantage of Australia's 20/12 rule, enabling 20 investors in any 12-month period without needing a full prospectus. • Climate Tech funding challenges: ClimateSalad claims about 100 out of 600 members need funding ASAP to survive the year, amounting to ~$100M. Despite a lot of pre-seed stage funding, there are barriers such as public perceptions, regulatory hurdles, and physical barriers related to the grid. • Girls in Tech closes up shop in Australia and rebrands as Her Tech Circle, continuing to support and inspire women in tech despite funding challenges due to a decline in DEI funding in corporates.
Fintech vs. banks, AI jobs surge & top startup raises
In this episode of the Startup Retro podcast, the hosts delve into the biggest headlines of the week. The discussion centres around the clash between the fintech industry and big banks over open banking, as well as a new report predicting the rise of AI jobs in Australia. Will and Gem also pick their favourite startup capital raises and share intriguing insights from their reading throughout the week. Headlines • Clash between fintech industry and big banks over open banking. • New report predicts the rise of AI jobs in Australia. • Details of "Future Made in Australia" legislation explored. • Notable startup capital raises, including Caresquare and Redactive AI.
$100M for infinite recycling, Telstra exits VC & Canva's ESOP clauses
In this episode of Startup Retro, hosts Will and Gemma discuss the latest news and funding events in the Australian startup ecosystem, including the significant $100 million deal and an in-depth interview with Kim Hansen from Cake Equity about ESOP clawback clauses. Hosts, Will & Gemma cover major headlines such as the Future Made in Australia legislation, Telstra rebranding its venture fund to Titanium, and several notable venture raises. They also highlight Tenacious Ventures' latest funding and delve into the week's interesting startup raises, with a focus on Aquila and Samsara Eco. The episode concludes with a knowledge-sharing segment featuring insights from Rampersand on how they invest in startups. Headlines • Latest news and $100 million deal in Australian startups • Interview: Kim Hansen on ESOP clawback clauses • Major headlines: Future Made in Australia legislation • Telstra rebrands venture fund to Titanium • Notable venture raises: Tenacious Ventures, Aquila, Samsara Eco • Rampersand insights on startup investments
If you like The Startup Retro with Will Richards & Gemma Clancy, try these
Turn podcasting into pipeline
We're the team behind the Day One Network and Blackbird's Wild Hearts. We help founders, funds and operators build trust, authority and deal flow with a show tailored to their market.