Expecting 'material loss', Syft targets $5.5m capital raise

Alex Fala said, "there's no sugar coating it, the year was tough". (Image: Syft)

Mon, 26 Jun 2023

Syft Technologies says it will need to raise $5.5 million after a challenging year that saw it halve revenues. It will announce a "material loss" for the year to March 2023 when it releases its full-year results in early July. The company, which trades on the Unlisted securities exchange (USX) platform, manufactures a mass spectrometer that enables the detection of gaseous chemicals down to parts per trillion in seconds. Its biggest customers include Samsung, computer memory company Micron, Ford and LG. It's highly...

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