
Jasper Investments secures over $9m investment
It will boost the group's core business expansion and develop AI-enabled digitalisation for the maritime sector.
Jasper Investments Limited has successfully secured more than $9m from strategic investors to drive innovation in the maritime sector.
Spearheaded by Dennis Goh, executive chairman and CEO of Jasper Investments, the funding will boost the company's expansion and development of artificial intelligence-enabled digitalisation initiatives tailored for maritime operations.
The funding, finalised through placement agreements on 6 June, emphasises Jasper's commitment to becoming a major player in the marine and offshore sectors.
Jasper Investments has executed subscription agreements for the issuance of over 6.2 billion new ordinary shares, priced at $0.0015 per share. The move, accompanied by the allocation of 3.1 billion new free warrants, cements partnerships with new investors.
Goh and Independent Director Osith Ramanathan have also personally invested $2m and $0.25m, respectively, into the company. Goh's investment includes $0.25m extended to the company via a convertible loan note in October 2023. Additionally, both Goh and Osith have converted their directors’ fees into new ordinary shares of the company.
The group has announced strategic collaborations with Prosper Excel Engineering and Lyte Ventures to integrate revenue-generating marine assets and leverage cutting-edge fintech solutions to revolutionise digitalisation efforts within the maritime domain.
“Once we have established the maritime ecosystem we intend to serve, we are cautiously optimistic that the company will be able to develop the capability to allocate capital in a more optimal way than many other maritime companies,” the group said in its filing.
“The adoption of AI technologies in our ecosystem will go a long way towards identifying data-driven trends which in turn guide us to make prudent capital allocation decisions at every inflexion point in the maritime economic cycle,” it added.