IXUP (ASX:IXU) has raised $3.2 million through a strategic capital raising effort. This funding round was well-supported by both new and existing institutional shareholders. The capital will be used to support IXUP's growth initiatives, particularly in the Regulated Gaming Technology division, aiming for cash breakeven by 2025.
IXUP has successfully secured $3.2 million to bolster its Regulated Gaming Technology division, with the aim of achieving cash breakeven by 2025. The funds will enhance sales and marketing efforts, secure key contracts, and expand IXUP's market presence in Australia and Canada. A notable investment from The John & Myriam Wylie Foundation and support from Regal Funds Management underscore confidence in IXUP's strategic direction. The company plans to redeem $250,000 of convertible notes and will hold a General Meeting in early 2025 for shareholder approvals. IXUP's growth strategy includes advancing its impact on responsible gambling through innovative technology solutions.
The capital raising is aligned with IXUP's strategic goals to reach cash breakeven in 2025 and further the company's mission of combating problem gambling through innovative technology.