Weebit Nano, the next-gen memory solution for computers, laptops, and smartphones, has announced an additional $9.1 million in funding. The funds were raised by private placement on the Australian Securities Exchange (ASX) and will be used to prepare for the mass production of their technology in 2021.
Lior Shahar, Head of High-Tech and IPOs sector in BDO Israel said, “Startups can raise significant amounts even during the Covid-19 pandemic, so long as the technology is unique and the company is able to present potential investors how the placement’s proceeds will be used to continue the R&D activity, shortening the go-to-market period, or reaching the commercialization stage,”