Don't think this has been posted, from the AFR yesterday, it ismore to do with Slattery's FiberSense project, but the data requiremements if it is successful are plain to see and drawing a logical line from it, to his investment in Pointerra, is quite easy and good news for potential revenue down the line. A lot of big hitters want on board:
Street Talk- Rich Listers, bankers cut cheques for Bevan Slattery’s FiberSense
A rolled gold list of Australian telco bigwigs and top-tier dealmakers have piled into AFR Rich List-er Bevan Slattery’s newest fibre play.
Street Talk can reveal a Series A fundraising for Slattery-chaired FiberSense secured an $11 million capital injection and along the way attracted a who’s who of the telco industry.
It is understood cornerstone investors included Slattery, who co-founded PIPE Networks and set up NEXTDC, Uniti Group executive director Vaughan Bowen (of M2 Telecommunications fame) and NEXTDC chief executive Craig Scroggie.
The cornerstone list also included Kogan.com’s Ruslan Kogan and Icon Cancer Care founder Stuart Giles, both of whom are also on the AFR Rich List with fortunes worth more than $500 million, according to documents lodged with the corporate regulator.
Goldman Sachs Australia CEO and partner of the Wall Street giant, Simon Rothery, Brisbane investor Jordan Grives and Colinton Capital Partners founder Simon Moore, who was previously a director at Slattery’s Megaport, also cut cheques.
The big names bought into Slattery’s vision that FiberSense’s technology, which is the brainchild of former sonar research scientist and CEO Dr Mark Englund, could be bigger than 5G. FiberSense uses telecommunication fibre-optic cables to detect vibrations, and this information can help manage critical infrastructure assets such as power grids, telco cables and water systems.
Potential IPO
FiberSense’s raising launched late last year and it closed recently. Funds raised were pegged for ramping up the company’s team, to work on its technology and develop its patent base.It is understood investors were told FiberSense could be back with a Series B raising and a possible initial public offering this year.While there’s plenty of moving pieces, the spanner in the works could come if FiberSense falls on to the radar of one of the many special purpose acquisition companies raised and now desperately seeking an anchor investment.Given Slattery’s history in listing his businesses on the ASX - PIPE, NEXTDC, Megaport, Superloop etc - we reckon he’ll aim it towards the local bourse if possible.
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