- Tracing tech company Dotz Nano (ASX:DTZ), has raised $2 million through a share placement backed by Southern Israel Bridging Fund
- Dotz has also secured an extra $1 million through a deferred share placement
- With these funds, the company will focus on commercialising its trace and anti-counterfeiting solutions to manufacturers and customers
- In addition, Dotz will leverage its in-plant track-and-trace security solution for the global hemp market
- Shares remain flat and are trading for 4 cents each at 2:11 pm AEDT
Dotz Nano has raised $2 million through a share placement to venture capital fund Southern Israel Bridging Fund, sophisticated investors and shareholders.
Additionally, a total of $1 million has been secured through a deferred share placement with the Southern Israel Bridging Fund (SIBF).
"SIBF specialises in assisting companies with unique potential and breakthrough technologies to scale up and reach the next stage of commercialisation," Dotz CEO Uzi Breier said.
The funds raised will enable the tracing technology company to execute its commercialisation strategy and target manufacturers and end-customers in the anti-counterfeiting, oil and gas, and product liability sectors.
Dotz is pleased to secure these funds as, so far, the company hasn't had the financial capacity to carry out its growth strategy.
Dotz Nano produces and markets anti-counterfeiting, authentication and tracing solutions.
Its unique products include ValiDotz, BioDotz, Fluorensic and InSpec which are used for various applications such as anti-counterfeiting, brand and reputation protection, oil and gas industry, liquids tagging, lubricants and DEF authentication, polymers tagging and bio-imaging.
"Our non-toxic in-product taggants and tracers are suitable for insertion into a variety of materials, from lubricants and fuels to plastics, polymers and cannabis plants, and do not affect the appearance or composition of products," Uzi said.
The CEO also claims the security markers stand out from the competitive market as they can tag dark pigmented polymers, such as black and dark blue.
The placement will also allow Dotz to finalise customisation testing for advanced commercial agreements with potential customers in oil and gas sectors.
In addition, the company will leverage the fact it has the only in-plant track-and-trace security solution for application in the global hemp market.
Following today's announcement, Dotz has been reinstated to official quotation after being voluntarily suspended from trade since November 18.
Shares remain flat and are trading for 4 cents each at 2:11 pm AEDT.