StrongRoom AI governance concerns aired in 2024 court dispute
A federal workplace official expressed concerns about StrongRoom's governance and experience more than a year before the medtech collapsed into administration.
A key federal official expressed concerns about StrongRoom AI's governance more than a year before the medtech startup collapsed into administration.
Court documents viewed by Capital Brief show that in January and May 2024 Fair Work Commissioner Scott Connolly observed that "the governance of Strong Room Technology left much to be desired" and noted its founder and CEO Max Mito's "inexperience and informality in his approach to the structure and governance of his enterprise."
The statements are contained in a decision over a Fair Work claim made by Mark Feldschuh, a former board director of StrongRoom AI who argued he was also an employee of the company.
The court documents have come to light just days after StrongRoom AI was placed into administration. That came after Sydney venture capital firm EVP, which led a $17 million investment into the business earlier this year, called in police to investigate the company due to "alleged activity", over which the fund had "no prior knowledge".
