Shareholders in Laurence Escalante-backed surveillance company icetana AI have benefitted from a sixfold increase of the firm's share price, after a deal with a Japanese tech giant.
This week's Bulls N' Bears ASX Runners of the Week is… Icetana Limited, after the AI solutions provider partnered with global robotics developer SoftBank. Resolution Minerals snapped up a US critical and precious minerals project in Idaho and Highfield Resources bounced back on hopes its mammoth Muga potash project in Spain could soon get developed.
Laurence Escalante could more than double his stake in AI-driven surveillance company icetana and become its largest shareholder, as the company gears up to enter Iraq.
This week's Bulls N' Bears Runner of the Week is… icetana. The video analytic solution provider inked a three-year Malaysian security deal for 1 Utama, Malaysia's largest shopping mall which saw its shares peak more than 100 per cent higher during the week. Patriot Lithium also had a nice time in the sun following a transformative deal to buy into the highly prospective Zambian Kitumba copper project while a huge cheer went up for Mesoblast after it landed FDA approval for its cell therapy treatment. There was also Black Dragon taking out the silver… but we'll get to that.
Perth-based artificial intelligence surveillance software company icetana AI shares are up 44 per cent in the five days since it released strong quarterly results.
Laurence Escalante more than doubled his stake in artificial intelligence software firm icetana, joining global technology giant Macnica Inc and another rich-lister, Peter Meurs.
Gaming entrepreneur Laurence Escalante has acquired almost 10 per cent of software business icetana as part of a changing of the guard in major support.
BetterLabs Ventures, RAC's early stage seed fund, has become WA's largest venture capital fund with the announcement last night it had expanded to $23 million.
OPINION: More than a decade after it entered the national debate, the national broadband network is about to be completed in the format – fibre to the node – that the reigning federal government committed to when Tony Abbott was prime minister.
Western Australia's latest initial public offering has brought together an unlikely pairing – a tech company that has been strongly supported by venture capital investors and a stockbroking firm that has traditionally focused on the mining sector.
Perth tech company iCetana, which has raised $11 million over the past 18 months to support its global expansion, has terminated the employment of its chief executive after identifying an alleged fraud.
Curtin University spin-out iCetana, which is commercialising video monitoring software, has become the second unlisted Perth tech company to complete a big capital raising this year.
FEATURE: Biotech and IT companies are enjoying renewed investor interest, but these innovative businesses are facing a changing capital raising market featuring less government support and, in Perth, a drastic shift in the venture capital sector.
