Director · Founder, StrongRoom AI
Stories naming Christopher Durre. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
EVP's Federal Court bid to claw back $10.4 million from collapsed healthtech StrongRoom AI continues, with liquidator examinations of former directors ahead; the rebooted business has since raised fresh funds under owner Joe Zhou.
Also AFR Technology·This Week in Australian Startups·Dealroom
Healthtech firm StrongRoom AI sold to pharmacy operator Joe Zhou for $3 million via administrators, while backer EVP litigates to recoup $10.4 million after the startup's collapse following a March raise.
EVP alleges StrongRoom AI's CEO admitted fabricated revenue and debt figures after the Sydney VC invested $10.4m in a $17m raise; the Melbourne startup is now in administration with assets frozen.
Strong Room AI, a Melbourne medicines-management startup, is in voluntary administration weeks after a February raise; investor EVP's court action froze assets while administrators seek a buyer and creditors meet on April 8.
Tyson & Blake, which seeded StrongRoom AI, threatens legal action against EVP, which is suing to recover its $10.4 million after the Melbourne medtech entered administration.
EVP has involved police and forensic experts as it seeks to claw back its $17 million backing of Melbourne medication firm StrongRoom AI, weeks after the round it led with Artesian and InterValley Ventures.
Weekly roundup of eight Australian startup raises, led by Sonder's $40 million round, plus AMP's $20 million raise and acquisition of the Shopify app Back in Stock.
Also Startup Daily·Defence Connect·SmartCompany·Startup Daily·Startup Daily·Defence Connect·Forbes Australia