BrainChip Aims for A$25M Boost for Akida 2.0

BrainChip Holdings (AU:BRN) has released an update.

BrainChip Holdings Ltd is set to raise up to A$25 million in equity capital to fund the commercialization of its Akida 2.0 technology and the development of its new TENNs product. The raise includes a A$20 million institutional placement, a A$2 million sale of existing securities, and an additional A$3 million through a share purchase plan offered to shareholders in Australia and New Zealand. These funds will also enable the appointment of a new Chief Marketing Officer and the expansion of the company’s Scientific Advisory Board.

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