Dotz Nano Limited, an advanced technology company developing, manufacturing and commercialising marking, tracing and verification solutions, has successfully raised A$2 million before costs via a Share Placement to venture capital fund, Southern Israel Bridging Fund (SIBF), Australian sophisticated investors and existing shareholders.
An additional A$1 million has been secured via a Deferred Share Placement with the SIBF.
The capital raised will enable Dotz to execute its commercialisation strategy, targeting manufacturers and end-customers in the three segments where its authentication technology is the most mature: anti-counterfeiting, oil and gas and product liability.
Funds raised will also assist in finalising customisation testing for advanced commercial agreements with potential end-customers in oil and gas, pursuing sales opportunities within the global cannabis market, where the company has the only in-plant track-and-trace security solution and used for general operation.
Commenting on the successful raise, Dotz CEO Uzi Breier said:
We welcome new strategic private shareholders to our register, who see the long-term value of our end-to-end authentication technology in catering to a sizeable addressable market with multiple commercial applications.”
In a further strong vote of confidence, Australian-Israeli venture capital fund SIBF has invested A$2.1 million in the Company. SIBF specialises in assisting companies with unique potential and breakthrough technologies to scale up and reach the next stage of commercialisation.
“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. Dotz’s security markers are also able to successfully tag dark pigmented polymers, such as black and dark blue – a point of difference in a highly competitive market.
“Dotz is now well-placed to strengthen and broaden its commercialisation footprint and will use the Placement proceeds to execute its growth strategy on the path to profitability.
To date, we’ve been confined by limited working capital which has hindered our progress on customisation testing with potential customers, particularly in the oil and gas sector where extensive verification is standard practice. We’ve now finalised customisation testing with many of these prospective customers and remain focused on converting these activities to recurring sales.”
