Memory Tech Leader Weebit Nano Secures $32.4M Boost

Coby Hanoch, Weebit Nano CEO

Weebit Nano, a leader in cutting-edge memory technology, has successfully raised AUD 50 million (~USD 32.4 million) through a premium underwritten placement. The raise, conducted without a trade halt and at a 6.5% premium over the five-day volume-weighted average price, highlights strong institutional investor confidence in the company’s future.

The funding will accelerate Weebit’s commercialisation of its Resistive Random Access Memory (ReRAM) technology, aimed at revolutionising non-volatile memory markets. ReRAM promises faster speeds, lower power consumption, and better scalability compared to traditional Flash memory, positioning it as a key component for next-generation devices like smartphones, IoT systems, and AI applications.

CEO Coby Hanoch expressed optimism about upcoming customer and partner agreements, stating the raised capital will enhance the company’s flexibility to seize market opportunities. As the global demand for efficient memory solutions grows, Weebit Nano appears poised to lead the transition to innovative memory technologies.

Source: Stockhead