RocketDNA Secures $4M to Boost Autonomous Drone Expansion After Major Mining Wins
RocketDNA has raised $4 million through a well-supported placement to accelerate production and software development, following significant contract wins with mining giants BHP Mitsubishi Alliance and Gold Fields.
- Placement raises $4.0 million at $0.015 per share with strong institutional backing
- Directors and management to invest ~$500,000, pending shareholder approval
- Funds earmarked for xBot® drone production and Skylink, SiteTube® software development
- Placement follows recent Tier-1 contracts with BHP Mitsubishi Alliance and Gold Fields
- Tranche 2 placement subject to shareholder approval in mid-December
Capital Raise to Fuel Growth
RocketDNA Ltd (ASX – RKT), a leader in autonomous drone technology for mining and infrastructure, has successfully completed a $4 million placement at $0.015 per share. This capital injection comes at a pivotal moment as the company seeks to scale its xBot® drone production and enhance its proprietary software platforms, Skylink and SiteTube®, which underpin its autonomous operations.
The placement attracted strong support from both new and existing institutional, sophisticated, and strategic investors, signaling confidence in RocketDNA’s growth trajectory. Notably, directors and management are set to participate with an investment of approximately $500,000, subject to shareholder approval, underscoring internal commitment to the company’s future.
Strategic Use of Funds
Proceeds from the placement will be strategically allocated to capital expenditure and inventory for the xBot® units, which are central to RocketDNA’s autonomous drone deployments. Additional resources will bolster sales and deployment support, ensuring the company can meet increasing demand from its enterprise clients.
Further investment in software development for Skylink and SiteTube® aims to enhance the operational efficiency and data services that differentiate RocketDNA in the competitive drone technology space. These platforms enable AI-driven remote drone operations, delivering rapid and reliable data to customers in mining, agriculture, and engineering sectors.
Momentum from Tier-1 Contract Wins
This capital raise follows recent contract wins with Tier-1 mining companies BHP Mitsubishi Alliance and Gold Fields, which have cemented RocketDNA’s position as a trusted provider of autonomous drone solutions. These partnerships not only validate the company’s technology but also provide a solid revenue foundation to support its expansion plans.
Operating primarily across Australia and Africa, RocketDNA services major clients including Rio Tinto, South32, and Newmont, leveraging its regional offices in Perth, Johannesburg, and Accra to deliver tailored drone-based data services.
Looking Ahead
The placement was executed in two tranches, with the first tranche of approximately $3.3 million already settled and shares allotted. The second tranche, involving the directors’ participation, awaits shareholder approval expected around mid-December. This introduces a degree of uncertainty regarding the final capital raised but also highlights strong insider confidence.
With Morgans Corporate Limited acting as lead manager, RocketDNA is well-positioned to leverage this fresh capital to accelerate its autonomous drone deployments and software advancements, potentially driving further contract wins and market share gains in the coming months.
Bottom Line?
RocketDNA’s $4 million raise sets the stage for accelerated growth, but shareholder approval for the final tranche will be a key milestone to watch.
Questions in the middle?
- Will shareholder approval for the second tranche proceed smoothly, securing full $4 million funding?
- How quickly can RocketDNA scale xBot® production to meet growing demand from Tier-1 clients?
- What impact will enhanced Skylink and SiteTube® software have on operational efficiency and revenue?
