Australia’s largest venture capital firm has conceded that its investment in Airwallex’s US$300 million ($465 million) Series F round is a correction of a nine-year-old misstep.

Blackbird passed on the Victorian startup in 2016, forcing Airwallex to turn to overseas investors for its first funding round. Blackbird doesn’t want to miss out again, tipping into a pre-IPO capital raise that valued Airwallex at US$6.2 billion.

“We absolutely made a mistake not investing earlier,” said Blackbird partner Michael Tolo. “And it’s the most expensive one that we have made at Blackbird!”

“As in life, it’s less about the mistakes that you make and more about what you do to correct them. This round presented a rare moment for us to correct our previous mistakes and partner with one of the generational Australian companies.”

A new update to Garmin watches brings a rucking activity, with a pack weight setting, to the Instinct 3 (both regular and Tactical), the Fenix 8 series, and the Enduro 3. Rucking is also available at launch for the new Forerunners, the 570 and the 970. The same software update also brings breathing variation detection to a wide variety of watches, including Vivoactive, Venu, Lily, and Forerunner models. 

Rucking—walking with a weighted pack—is both a fitness activity for people looking for a little exercise, and a necessity for many hikers and backpackers. But without a specific activity or pack weight setting, the only obvious way to track it was as a regular hike. Since you move slower when you’re carrying a heavy pack, that was impacting people’s VO2max scores—the watch thinks you’ve slowed down because you’re losing fitness.

The pack weight setting changes that. Besides the rucking activity, the running, trail running, hiking, and walking activities will all have this setting as well (on the supported watches I mentioned above, anyway). This lets you log today’s ruck as being done with a 15-pound pack, and tomorrow’s with a 10-pound pack, if those are the weights you’re carrying.

So far there’s no word on whether rucking or pack weights may be coming to other watches in the future. Older Forerunners, including the just-replaced 265 and 965, aren’t getting the new rucking features. 

How to track rucking if your watch isn’t included in the update

If you have one of those older Forerunners, or another watch that doesn’t get rucking in this update, there is a workaround. As pointed out in this Reddit thread, you can create a Cardio workout. (Go to the More menu in Garmin Connect, then Training and Planning, then Create a Workout.)

Create one step in the cardio workout, and for that step, set the exercise to “Walk.” You’ll be able to add a weight. This activity won’t track your location with GPS—so it’s not a great option if you’re hiking in the wilderness or need to track your speed—but some users have found it helpful as a way to record pack weight and time rucked.

What else is in the update 

The new software update does have a little treat for the -65 level Forerunners, plus the older 255 and 955, as well as several other watches like the Venu 3, Vivoactive 5, and Vivoactive 6. That’s a feature to detect “breathing variations” during the night. It uses the pulse ox (blood oxygen) feature to detect “shifts in your breathing patterns” while you sleep. They don’t want to call it sleep apnea detection, since this isn’t a medical device, but these variations are the kind of thing you might see if you had sleep apnea. 

The update also brings a passcode to lock the device to several devices that didn’t have it before. (Passcodes were introduced for some devices earlier this year.) According to a chart Garmin released with the new update, recent Venu, Vivoactive, and Forerunner watches already had passcodes, and the update brings them to the Lily 2 and the Instinct 3 and E.

The news: The Australian sharemarket closed lower, tracking losses on Wall Street after a proposed tax-cut and spending bill stoked concerns the US deficit will balloon by trillions.

The benchmark ASX 200 fell 0.45% to 8,348.7, with 10 of the 11 sectors finishing in the red, coming off Wednesday’s three-month high.

Concerns about the US deficit and the weakening US dollar also helped Bitcoin hit a new record high. The cryptocurrency soared past $111,000 for the first time and was priced at US$110,741.90 at 4:39pm AEST.

Biggest movers:

• Tech sector (-1.67%) — Was the worst performing sector as Australia’s five biggest tech companies all dropped, with NEXTDC (-2.48%) suffering the biggest fall, followed by TechnologyOne (-2.41%), Wisetech Global (-2.33%), Life360 (-1.05%) and Xero (-1%).
• Energy sector (-1.34%) — Oil and gas heavyweights Woodside (-1.33%), Santos (-0.93%), Ampol (-3.37%), and Viva Energy (-2.58%) all declined. However, large coal companies Yancoal (+0.98%) and Whitehaven (+0.19%) made it into the green.
• Materials (+0.65) – The only sector that finished in the green, even as iron ore majors BHP (-0.052%), Rio Tinto (-0.57%), and Fortescue (-1.49%) took hits.
• Gold miners — Demand for the safe-haven metal rose in light of US deficit fears, lifting the shares of ASX-listed gold miners, which made up eight of the top 10 performers. They were led by Genesis Minerals (+5.78%), Northern Star Resources (+5.36%), and Spartan Resources (+5.29%).
• Lynas Rare Earths (+6.97%) — The rare earths producer was the biggest gainer on the ASX 200 today.
• Nufarm (-6.41%) — Shares in the agricultural chemicals supplier continued to slide after reporting a 39.5% fall in statutory profit over the six months to 31 March on Wednesday.

The New Zealand Cricket (NZC) governing body has renewed its long-term partnership with Ford New Zealand, the regional subsidiary of the US carmaker, for another three years.

The renewal extends a partnership that began in 2009 and will see Ford NZ continue as the governing body’s official vehicle provider, with the carmaker’s logo remaining a prominent fixture on the men’s and women’s national team kits.

As part of the partnership, the domestic over-50s men’s competition will continue to be named the Ford Trophy.

Other commercial partners of NZC include UK sportswear brand Castore, financial services firm ANZ, beverages giant Asahi, pharmacy chain Chemist Warehouse, Indian sports technology company Dream11, fast food chain KFC, shaving brand Gillette, sports drink brand Powerade, and paint brand Dulux.

The European League of Football (ELF) pan-European American football competition has expanded its distribution across Africa after signing a rights deal with SportyTV, the African sports broadcaster owned by Sporty Group.

The deal will see SportTV air a live ELF game every Sunday and five playoff games, as well as a wide range of additional content available on demand, including full game highlights and weekly magazine shows.

The regions that will gain access to ELF coverage include South Africa, Nigeria, Ghana, and Kenya.

The addition of ELF adds to SportyTV’s growing portfolio of rights, including soccer’s English Premier League, LaLiga, Serie A, Bundesliga, Spanish Super Cup, EFL Championship, DFB Pokal, Saudi Pro League, and Copa Libertadores. 

Beyond soccer, SportyTV also covers the EuroLeague in basketball and the Professional Fighters League (PFL).

Al Ittihad, of Saudi Arabia’s top-tier Saudi Pro League (SPL), has added Korean manufacturer Hankook Tires as its title sponsor for the next three years.

The sponsorship will see Hankook’s logo prominently featured on in-stadium LED signage, media interview backdrops, and the club’s official team apparel.

Hankook Tire also plans to run engagement-driven marketing campaigns, such as integrated online and offline ticket giveaway events, to boost brand awareness and drive sales in the Middle Eastern market, including Saudi Arabia.

The deal adds to Hankook’s other sports sponsorships, which include European soccer’s UEFA Europa League and Europa Conference League, German club Borussia Dortmund, and the prestigious Ballon d’Or awards.

Silverstone, the motorsports venue and organizer of motor racing’s Formula 1 (F1) British Grand Prix, has strengthened its commercial portfolio after securing a new deal with brewing giant Heineken.

The deal will see Heineken become Silverstone’s exclusive provider of beer and cider, providing its brands Heineken, Cruzcampo, Inch’s Cider, Old Mout Cider, and Heineken 0.00% during events.

The deal comes days after the venue announced Austrian spirits brand NEFT Vodka as its first vodka sponsor ahead of motorcycling’s flagship MotoGP British Grand Prix this weekend (May 23 to 25).

Silverstone secured a 10-year contract renewal with F1 in 2024, guaranteeing it will host the British GP until 2034.

Liga Portugal, the organizing body of the top domestic soccer league, has announced a new partnership with global sportswear branding and labeling firm Avery Dennison.

The company becomes the league’s exclusive supplier of official sleeve badges, names, and numbers to be worn by all players across Liga Portugal competition matches. The partnership extends to retail, with these embellishments featured on official replica kits. 

The multi-season strategic partnership commences from July 2025.

Avery Dennison has a similar partnership with the English Premier League, which was renewed earlier this month through 2029-30.

The firm also provides this service for the Spanish national and LaLiga giants Real Madrid.

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Pre-order Details: The new Comply Foam TrueGrip MAX ear tips will be available for pre-order starting on May 21, 2025, for Apple AirPods Pro Gen 1 & 2, with shipments beginning the week of June 2nd. Then Samsung Galaxy Buds3 Pro will be available for pre-order starting on July 6, 2025. Be among the first to experience this innovative foam technology by placing your pre-order at www.ComplyFoam.com.

Comply Foam’s Commitment: At Comply Foam, we are committed to protecting your hearing while changing the way you listen. This new patented foam technology reflects our dedication to providing customers with the best possible listening experience. By continuing to push the boundaries of what is possible, we remain at the forefront of this industry, delivering products that set the standard for comfort, performance, and longevity.

For more information about the new foam ear tips or to place an order, visit www.complyfoam.com and contact Dana Rodriguez, Director of Sales and Marketing.

Hearing Components, Inc
Comply®
Dana Rodriguez
Director of Sales and Marketing
marketing@complyfoam.com

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SOURCE Comply Foam, Inc.

Revolutionary AI-Powered Thermo-Regulating Wearables Join the Legacy of Edison & Bell

US Utility Patents:

– Patent Number: US 11,800,941

– Patent Number: US 11,910,863

– PCT Registration: PCT# US24/18754 (Approved in 157 Countries in the World)

THE FUTURE OF PERSONAL TEMPERATURE CONTROL IS HERE

CARMEL BY THE SEA, Calif., May 22, 2025 (GLOBE NEWSWIRE) — CoolU WarmU, LLC proudly unveils the World’s Only US Utility Patented AI-powered Cooling and Warming Wearable Technology, transforming how individuals and professionals manage their body temperature. This Groundbreaking Technology allows users to set their preferred temperature in hours, minutes, and seconds-ensuring all-day comfort, Energy Efficiency, and personalized control in a variety of lifestyle and occupational scenarios.

$220 Trillion Global Economic Impact Over 10 Years

• Reduces the US National Debt by more than $24 trillion through domestic manufacturing, energy savings, job creation, and export revenue.
• Saves $64 trillion in energy costs for Data Centers globally by reducing the need for HVAC systems through personal wearable temperature control.
• Reduces strain on power grids and lowers household utility bills for consumers using the technology.
• Total Market opportunity based on adoption by 30-40% of the 8.2 billion global population.

Wearable Technology for All-Weather Environments

US Manufacturing of CoolU WarmU’s Innovative Technology supports American innovation and Energy Efficiency.

• Clothing and Footwear: Temperature-controlled dresses, suits, everyday wear, athletic wear, and sleep garments; athletic shoes, boots, casual and dress shoes.
• Face Masks: Equipped with 99.9% virus protection and AI-controlled air and temperature regulation.
• Bedding and Sleep Accessories: Cooling and warming pillows, mattress covers, blankets, comforters, and sheets-portable and designed for consistent comfort.
• Medical & Occupational Wear: Used by doctors, nurses, military, athletes, first responders, construction workers, and firefighters.
• Domestic Mammals (Pet Industry): Covers and bedding for dogs, horses, and other animals, ensuring comfort across climates.
• Everyday Wearables: Comfortable in most physical lifestyles.

Enhanced Comfort with Wireless Design

CoolU WarmU’s Innovative Technology ensures there are no wires touching the skin, creating a safer and more comfortable experience. Its fully wireless engineering eliminates irritation and enhances wearability across all body types and occupations.

Power Outage Resilience & Portability

All products are rechargeable via AV adapters in vehicles, allowing for full usability even during power outages or in off-grid settings.

Energy Efficiency Aligned with Global Innovation

• Uses pre-heated or pre-cooled water recirculated by an AI-controlled system.
• Maintains temperature using a thermos, AI thermostat, water pump, and battery kit.
• Proudly made in America and distributed worldwide.

Market Breakdown Supporting $220 Trillion Projection

• Military and Defense: 74 million users
• Medical and First Responders: 120 million
• Athletes & Active Lifestyle Consumers: 1.4 billion
• Construction and Outdoor Workers: 400 million
• Everyday Consumers: 2.5 billion
• Pet Industry: Hundreds of millions of animals

These projections are based on mass licensing agreements across sectors and a conservative 30-40% global adoption rate.

Only Non-Exclusive Licensing Agreements Available

CoolU WarmU’s Innovative Technology is ready for seamless integration into existing production systems:

• AI Functionality Kits available for investor licensing (disclosed post-NDA).

A New Legacy of Innovation

Following in the footsteps of Alexander Graham Bell and Thomas Edison, Brenda Simmons’ innovation is designed to help lifestyles in America and people all around the world-supporting health, comfort, and Energy Efficiency. It provides a revolutionary energy-saving solution throughout the globe.

Non-Exclusive Licensing Open

• Licensing window: May 21 to June 23, 2025
• US Utility Patent protection through 2040
• Companies that do not sign by the deadline must wait until 2035
• Licensing categories will be limited after initial sign-ups out of respect for early partners

JOIN THE FUTURE. HELP MILLIONS. DRIVE GLOBAL CHANGE.

CALL TO ACTION:

Manufacturers across the United States and around the globe are urged to act now. CoolU WarmU’s Innovative Technology is fully developed, protected, and ready for seamless integration into your product lines.

By signing a Non-Exclusive Licensing Agreement, manufacturers can:

• Lead the charge in wearable AI innovation
• Offer their customers advanced comfort and Energy Efficiency
• Contribute to America’s Manufacturing growth and Economic leadership
• Be among the first to bring this Revolutionary Technology to Market

The Future of 2025-And It Wears AI.

AI-powered wearables are seamlessly embedded in fashion by major clothing manufacturers, offering real-time, personalized cooling and warming apparel that not only looks great but actively enhances comfort throughout the day-whether outdoors, at work, or at home.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8a27e0a-350e-44b2-8501-d1137bf09da9