Aurora Labs, Bibra Lake, Australia, has successfully raised $1.82 million following investment from Dutch entrepreneur Tjeerd Barthen. Aurora intends to use the funds to accelerate commercialisation of its rapid manufacturing technology (RMP-1) machines as well as for working capital.
Barthen, who founded a successful healthcare business that was later acquired by management and private equity, now invests globally in disruptive technologies with scalable opportunities.
“I have followed the growth of the sector for some time and quickly identified that Aurora Labs as a technological leader with the potential to revolutionise manufacturing. I look forward to following the team on their journey,” Barthen stated.
The deal will see 13,000,000 shares issued to Barthen at $0.14 per share. The placement shares will reportedly comprise approximately 12.5% of the company’s total pre-placement issued share capital and approximately 11% on a fully-diluted basis, and will rank equally with existing ordinary shares.