Unith (ASX:UNT) to tap investors for fresh funds

• Artificial intelligence (AI) specialist Unith (UNT) calls a trading halt to tap investors for some fresh funding
• The company has not yet revealed how much it plans to raise or for what it will use the funds
• The raise comes off the back of a major company rebranding in late-2022 from Crowd Media to Unith in a bid to better reflect the development of its core AI tech
• Unith’s core Talking Head technology is designed to humanise chatbots and improve business-human interactions
• Shares in Unith last traded at 3.9 cents on Wednesday afternoon

Artificial intelligence (AI) specialist Unith (UNT) has called a trading halt in order to tap investors for some fresh funding.

The company entered the trading halt on Thursday morning citing the planned capital raise, though it has not yet revealed the details of the raise.

At this stage, shares will resume trade by market open on Monday morning, by which stage Unith plans to have announced how much it seeks to raise and how it will go about raising the funds.

The company is fresh off a major rebranding in late-2022 when it changed its name from Crowd Media to Unith to better reflect the ongoing development of its “clean, commercial and agile” conversational AI technology.

The company’s core Talking Head technology is designed to humanise chatbots and improve business-human interactions.

Through its tech, Unith hopes to provide a way for businesses to use AI to onboard and educate customers, upsell products, handle complaints, and more — all with a digital avatar and AI voice to improve the customer experience.

The company said in an investor presentation on Thursday it was integrating into the tech a deep knowledge base, AI-generated, contextualised real-time conversation, and accessibility on any platform.

Unith has not yet specified exactly where it plans to direct the funding boost once its capital raise is complete.

Shares in Unith last traded at 3.9 cents on Wednesday afternoon.