29th Nov 2013 09:24
LONDON (Alliance News) - Seeing Machines Limited said Friday that it has raised GBP15 million through a placing of 300 million shares at 5 pence each.
Seeing Machines produces technology used to track faces, eyes and facial features.
The company intends to use the capital raised in the placing to pursue its development strategy. This includes continuing to develop its product for use in mining sites and growing a greater presence in the road transport, aviation safety and ultimately consumer electronics markets.
Shares in Seeing Machines were trading down 7.3% Friday morning at 6.84 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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