CEO · Founder, StrongRoom AI
Stories naming Max Mito. 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.
StrongRoomAI chief Max Mito denies EVP's fraud allegations in Federal Court; the startup is in administration ahead of a sale after the Sydney VC's $17m backing unravelled into litigation.
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.
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StrongRoom AI, a pharmacy software startup, has banked $17 million in an EVP-led round valuing it near $70 million, and is buying loyalty program Member Benefits Australia with part of the proceeds.
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