Investors in the struggling start-up Baraja, which built tech for the driverless car industry, are hoping a change of product direction can revive its fortunes, even though a major backer has written down its holding in the company to almost nothing.
Baraja was one of Australia’s most highly rated start-ups, raising almost $100 million in external funding from investors including Blackbird Ventures and the CSIRO-backed Main Sequence Ventures, which previously valued it over $300 million in 2021.
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