Welcome to a joy-filled Wednesday in Australia. Here’s what’s happening today.
1. iiNet has the wooden spoon for the first time in Netflix’s broadband rankings. When Netflix first landed in early 2015, iiNet was consistently fastest or second fastest in the league table – but now two years after a takeover by TPG, it has hit equal last. Read more on its demise and Telstra’s rise in the October survey.
2. Two Australian VC firms have led a $60 million round into a heart-saving medical tech device. The WiSE cardiac resynchronisation device, which is the size of “a large grain of rice”, has been backed by Sydney investment vehicles Brandon Capital and MH Carnegie & Co. The new tech differs from conventional heart appliances in that it is wireless. Read more on why going wireless is an advantage for heart failure patients.
3. Victorian startups have grabbed at least $790 million via more than 500 capital raises in the past five years. That’s according to the state government’s LaunchVic organisation, which reported the median seed investment was $100,000, the median angel investment was $250,000 and the median venture capital raise was $2 million. Read more on the figures here.
4. Westpac’s Reinventure VC fund just bought a whole lot of BrickX. The AFR reports the size of the capital raising nor Reinventure’s contribution were disclosed, but the fractional property investment startup is working on a rent-to-buy model that would allow some investors to live in the house and work up their equity in it over time.
5. Apple has gone into mediation with the consumer watchdog over refusing to repair some iPhones. Last year, news emerged that Apple was declining to service iPhones and iPads that it thought had been touched by third party repairers – which the ACCC immediately objected to. CRN reports now the federal court has referred the two sides to mediation.
Bonus: Apple boss Tim Cook congratulated Australia on social media for the marriage equality vote. But he used the New Zealand flag emoji – oops!
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