ASX Tech Stocks: icetana and Threat Protect team up to develop motion intelligence software
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AI video analytics and video anomaly detection software player icetana was up 5.3% today, after signing a non-binding memorandum of understanding with Threat Protect Australia (ASX:TPS) – a security company monitoring thousands of customer surveillance cameras across Australia.
The companies will collaborate on a proof of concept at an agreed location where Threat Protect provides active monitoring services, as well as developing enhancements to icetana’s motion intelligence software for active monitoring solutions.
The agreement forms part of icetana’s strategy of specifically targeting the guarding services market, with strong alignment between the icetana solution and the need for guarding services to identify threat events, the company said.
Anecdotal feedback from existing clients in the Middle East and Japan indicates that deploying icetana software leads to reduced requirements for guards, with a net A$35,000 annual saving for every 100 cameras connected.
The company believes video cameras are the “new frontier” for remote monitoring operations.
Up 5% today was authentication and tracing solutions provider Dotz Nano, which have just signed a new distribution agreement for its virus detection technology in Malaysia.
The agreement is with ScienceVision Sdn Bhd to promote, sell and distribute its nasopharyngeal swab and saliva-based SARS-CoV-2 virus detection technology (the Dotz Test Kits) in Malaysia.
Exclusivity is subject to minimum first-year purchase orders of US$600,000.
“Our SARS-CoV-2 virus detection technology is ideal for countries that are heavily dependent on tourism, providing a cost-effective and timely testing method,” Dotz CEO Gideon Shmuel said.
“This new distribution agreement provides us with a foothold in Malaysia at a time when it is reopening to tourists for the first time in 18 months.”
“Dotz remains focused on commercialising its diagnostic technology, and we have a large, global market opportunity.”
“ScienceVision is an established and reputable distributor in Malaysia, enabling Dotz to leverage its established sales channels and customer networks.”
Semiconductor player Weebit Nano was up 1.7% in early morning trade today.
The company has raised $9.9 million via an entitlement offer, with $4.4 million raised and an additional $5.5 million from applications and commitment for Shortfall Shares from existing shareholders.
Weebit will use the funds to accelerate growth and the company’s ability to deliver on the attractive opportunities it sees as commercial interest in its memory technology grows.
“We are delighted that we have been able to fully allocate and place all available shares under the entitlement offer to our existing shareholders,” CEO Coby Hanoch said.
“Weebit Nano is in a very strong position to execute on the significant and exciting growth opportunities we see ahead for our memory technology.”
Down 2.2% today was Envirosuite, which announced it raised $10.5 million via a placement at $0.20 per share to accelerate its EVS Water business over the next 12 months.
With strong market interest and validation of the EVS Water portfolio, with clients such as Water Corporation, a desalination plant in Asia and the recently announced GHD strategic agreements, the raising will support:
“The EVS Water business is on the cusp of a tremendous market opportunity as the benefits from our Environmental Intelligence technology platform are recognised more and more by Governments and corporates seeking to improve the well-being of their citizens and customers, and by key global industry service providers like GHD who recognise the benefits of our products,” CEO Jason Cooper said.
“We are tooling up to meet that opportunity.”
At Stockhead, we tell it like it is. While Envirosuite is a Stockhead advertiser, it did not sponsor this article.