Melbourne, Australia – 16 October 2023: Linius Technologies Limited (ASX: LNU) (Linius or Company) – the only cloud-based solution that unlocks the value of video archives with immersive, deeply personalized viewer experiences via its Linius Media Solutions – has received firm commitments from professional and sophisticated investors to raise $685,000, before costs (Placement).
During FY23, the Company made significant progress against its strategic plan to reach profitability.
Linius has materially penetrated the sports market with long term contracts with blue-chip customers, working with content from 15 different sporting codes, 40 different sporting federations, in all three of its target geographies – US, Europe, and Asia. The Company finished the year with record cash receipts of $496,000, an 82% increase YoY.
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