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Stories naming Divesh Sanghvi. 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.
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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.
The medication startup StrongRoom AI looks headed for liquidation, its administrators citing likely insolvency from October 2024, while EVP litigates to claw back its $10.4 million and the CEO faces fraud claims.
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.