AFR: ‘Digital human’ AI stock raises $2m, page-4

‘DIGITAL HUMAN’ AI STOCK RAISES $2M AND SEEKS MORE

Paul Smith

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ASX-listed generative artificial intelligence firm Unith has locked in $2 million of a planned $4.5 million capital raise to support a general launch of its AI-powered “digital human” avatars.

An example of an AI-powered customer service assistant used on Unith’s website. Unith

The company uses AI to create virtual chat agents, in what it calls “conversational commerce.” It says businesses can create their own digital humans, using its technology, to “immerse, assist, and educate customers in real time and in multiple languages.”

On Tuesday the company announced it had raised $2 million via the issuance of shares and unlisted entitlement options,

Of this $1.5 million was taken out by Sydney-brd Evolution Capital, with the rest from existing unnamed shareholders.

“With the general public launch of our Digital Human platform users will be able to generate their own digital human and deploy them online for a multitude of purposes,” Unith CEO, Idan Schmorak said.

“By strengthening our balance sheet, these funds provide Unith with the flexibility to increase marketing and commercial activities at the appropriate time to position Unith as an industry leader.”

In an announcement, the company said that both the placement and offer come with a one-for-two free-attaching unlisted option exercisable at 2.3¢ expiring in late September. A second unlisted option is available to expire at 3¢ on March 31, 2026.

Its shares are currently trading at 1.3¢.