DroneShield (ASX:DRO) has successfully raised $1.25 million through a Share Purchase Plan (SPP) and private placement.
The drone detection and drone defense tech company received applications for over 4.4 million shares at 23.70 cents per share for its Share Purchase Plan. That equated to $1.052 million.
In addition to that, the company also received a placement of $225,000, on the same terms as the SPP.
The company says on the back of substantial demand, it will use the funds to develop its multi-method detection and integrated detect-and-defeat technology.
Shares in DroneShield (ASX:DRO) are trading 2.04 per cent higher to 24.50 cents.
