Supply@ME Capital PLCE has entered into a new drawdown agreement with Venus Capital to enable it to raise up to £7.5mln in new equity.
An open offer is also planned to enable existing shareholders to take part in an open offer on the same terms as Venus, a Luxembourg-based investment company.
SYME said it will use the money to pay off loans and convertible notes from Mercator Capital Management.
The inventory management platform added it had spun off its IP rights into a new business, Supply@ME Technologies.
SYME also said that its accounts for the year 2021 have been further delayed and it will use the FCA two-month temporary Covid relief to publish them no later than the end of May 2022.