Supply@ME Capital PLC (LSE:SYME) has raised a further £2,250,000 through a subscription from major backer Venus Capital.
Some 4.5bn shares were issued at 0.05p, with warrants attached exercisable at 0.065p.
An unsecured working capital loan agreement of up to £2.8mln is also available as a flexible facility until the end of January 2024.
Alessandro Zamboni, chief executive, said: "2022 has given us the ability to prove out the Supply@ME model.
"The importance of completing our first inventory monetisation cannot be overstated. It opens the gates to corporates globally and is highly scalable.
“The financing announced today demonstrates the board's commitment to its Capital Enhancement Plan strategy of steering clear of highly dilutive convertible loan facilities.”
SYME also published results for 2022 showing losses of £9.9mln (£12.5mln) including a loss of £2.2mln from the earmarked-for-sale Tradeflow business.