ISOTeam completes $10m funding raise

The bulk of the funding will be used for the commercialisation and development of drones.

ISOTeam has announced the completion of its funding raise via share with convertible bond placements, raising $10m.

The placement of approximately 86.2 million new ordinary shares in the capital of the company was fully subscribed and attracted prominent institutional investors, including Lion Global Investors, Asdew Acquisitions, ICH Capital, Ginko-AGT Growth Fund, Areca Capital, and Azure Capital.

The group said 60% of the proceeds will be used for commercialisation and final development of the group’s AI-driven and autonomous façade painting and washing drones. 

The remainder will be used for the Group’s general working capital needs, which will include corporate expenses, hiring of drone pilots, software engineers and other related talent to support its digitalisation strategy.