The administrators will pursue a sale of the company and are encouraging interested parties to come forward.
The administrators are continuing to trade the business whilst they undertake an urgent appraisal of Data Republic, the administrators said in a statement.
The administrators will work closely with Data Republics employees, suppliers and customers to stabilise operations and to determine the appropriate strategy for the business. A recapitalisation and sale process will also be commenced immediately.
Data Republic is understood to have also approached possible buyers prior to placing itself in voluntary administration, but administrators believe a buyer may still emerge.
To date the company has raised about $36 million in venture…
Read the full article at: https://www.afr.com/technology/big-bank-backed-data-republic-collapses-after-failed-funding-round-20210506-p57pn2