Digital video data aggregators Linius Technologies has received firm commitments from investors to raise $3.5 million.
Among already existing shareholders is Village Roadshow Executive Chairman Robert Kirby. The investment placement will result in the issue of 100 million shares at $0.035 per share.
Linius Technologies uses an artificial intelligence backed ‘video virtualisation engine’ that allows streamed video to be turned into fluid data for personalised use.
This technology comes useful to online marketers and advertisers.
In March this year, Linius also secured a co-sale agreement with Microsoft, encouraging Microsoft sales-force to sell Linius products.
Linius’ services are currently available on Amazon, Microsoft Azure and, IBM Cloud.
Subject to shareholder approval, $1 million of investment will be from Linius directors.
The company intends to use the investment for furthering development of the technology, securing more partners and developing direct sales business models.