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An announcement from Aurora Labs ( (AU:A3D) ) is now available.
Aurora Labs has successfully raised $5.5 million through a Two Tranche Placement, with significant backing from both existing and new investors, including a strategic investment from Sovereign Propulsion Systems (SPS). This capital will be used to advance Aurora’s drone propulsion business, expand manufacturing capacity, and provide working capital. The collaboration with SPS, which includes aerial testing of next-generation propulsion systems, marks a critical milestone for Aurora as it seeks to commercialize its technology and strengthen its position within Australia’s sovereign defence supply chain. This partnership also grants SPS exclusive distribution rights to Aurora’s propulsion system across AUKUS partner countries for a three-year term.
More about Aurora Labs
Aurora Labs Limited is an industrial technology and innovation company specializing in the provision of 3D metal printed parts for sectors such as Defence, Oil and Gas, and Resources. The company is also involved in the development of 3D metal printers, powders, and associated intellectual property, with a focus on advanced propulsion systems for Unmanned Aerial Systems (UAS) in the Defence sector. Aurora Labs is listed on the Australian Securities Exchange (ASX: A3D).
Average Trading Volume: 588,285
Technical Sentiment Signal: Buy
Current Market Cap: A$28.38M
For a thorough assessment of A3D stock, go to TipRanks’ Stock Analysis page.