Profitability has been mentioned
BrainChip which was founded in 2013 and went public via a backdoor listing in 2015 has just raised another $21.5m at 18c per share. It raised $6m in a private placement at 15c per share earlier in May this year. And for the first time the word profitability has been mentioned.
Louis DiNardo was appointed CEO in September 2016. He has a strong track record of growing publically listed and privately owned technology businesses, and has worked in venture capital firms where he has successfully backed a number of emerging technology companies.
http://www.afr.com/technology/ai-sof...0171027-gz9qq1
ASX-listed artificial intelligence software and hardware company BrainChip has raised $21.5 million from investors to fund the development of its "general purpose neural processing unit", which it says has been designed to mimic the function of the human brain.
BrainChip, which has been in a trading halt but last closed at 24.5¢, will also use the capital injection to fund a sales and marketing push, targeting equipment manufacturers and other potential partners.
Mr DiNardo said it would also free him up to be more client-facing and enable the business to aim for profitability in later 2018.
http://www.proactiveinvestors.com.au/companies/news/186453/brainchip-holdings-attracts-215m-for-artificial-intelligence-technology-186453.html