leadf
logo-loader
viewXped Ltd

Xped bags $3 million to expand Internet of Things opportunities

The Internet of Things market is estimated to grow to 50 billion devices by 2020.

rsz_shutterstock_257673274.jpg
Xped holds Internet of Things based patents in multiple jurisdictions.

Xped Limited (ASX:XPE) has completed a placement of shares to raise $3 million at $0.012 per share to boost its working capital.

The company has developed Internet of Things (IoT) technologies that allow consumers to connect, monitor and control devices and appliances found in the everyday environment.

Xped is planning to utilise the new funds as working capital for its IoT technology and healthcare technology divisions.

The company is also expanding to smart home and consumer IoT solutions, professional healthcare technology and commercial and industrial IoT technology products.

Xped has already developed a number of innovative technologies and holds patents for these in multiple jurisdictions.

The company has two subsidiaries, JCT Healthcare Pty Ltd and Jackson Care Technologies Pty Ltd.

JCT Healthcare is a provider of communication solutions to the healthcare sector with products that are tailored for hospitals, aged care, independent living and disability care facilities.

Furthermore, Xped has created one of the world’s first human friendly solutions for the on-boarding, control and management of IoT enabled objects.

Importantly, the IoT market is estimated to grow to 50 billion devices, and an addressable global market of $80 billion by 2020.

Xped is well funded with a cash balance of circa $6.75 million as at 30 June 2017.

Quick facts: Xped Ltd

Price: 0.003 AUD

ASX:XPE
Market: ASX
Market Cap: $5.38 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

GinsGlobal Managing Director sees Healthcare and Healthcare innovation as...

HANetf and GinsGlobal Index Funds' Managing Director Anthony Ginsberg joined Steve Darling from Proactive to share details about the success of their Healthcare Innovations ETF. Ginsberg discusses how COVID-19 had made a direct impact on that fund, especially in the telemedicine...

1 day, 21 hours ago

2 min read