Bright Innovations News
5 articleshttps://www.news1.news/en/2020/09/galileo-tech-will-merge-with-bright-innovations.html
Bright Innovations leading the way with smart city technology and support of Mayfair 101
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Smart Cities play Bright Innovations aims for $8m IPO second time around - Stockhead
Bright Innovations, an Israeli tech company, is planning to list on the ASX within three months. The company focuses on commercializing an open Internet of Things platform for building smart cities. Bright Innovations previously attempted to list on the ASX in 2016 but the deal fell through. The company is now seeking a clean Initial Public Offering (IPO) and aims to raise $7 million to $8 million. They have already generated $1.5 million in revenue from pre-pilot projects and have partnerships with companies like Certis CISCO and Velpic. Bright Innovations sees Australia as an opportunity for growth in the smart city market. The IPO is partially underwritten by Mayfair 101.
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IPO hopeful Bright Innovations nabs heavyweight backer
Mayfair 101 has taken a stake in Bright Innovations, an Israeli tech company pursuing an ASX listing. Bright Innovations recently completed a $1.5 million pre-IPO round, with Mayfair 101 underwriting up to $5 million for the slated IPO. Bright Innovations now plans to raise $7 million from Australian investors to support the roll-out of its open platform for smart city applications. Lodge Partners oversaw the pre-IPO raising and will lead the ASX listing.
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Israeli Tech Is Flying High Down Under
The Australian Securities Exchange (ASX) has become a hotbed for innovative Israeli tech companies looking to raise capital. Since 2015, 14 Israeli tech companies have listed on the ASX, with a total of 16 currently listed. Most of these companies have used the method of reverse takeover (RTO) to access the market. The ASX has proven eager to promote the exchange in the Israeli market and has led many delegations to Israel. Israeli companies listed on the ASX have enjoyed an average percentage growth in share price of 94% one year after listing. The ASX offers benefits such as access to a broad investor base and a cost-effective source of capital. Australian investors are hungry for innovative Israeli tech startups, making the ASX an attractive option for Israeli companies.
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