Technology borne out of military applications could soon be deployed onto the ASX via small cap company Ookami (ASX: OOK).
More specifically, Ookami is seeking to commercialise drone-mapping technology that enables high-resolution drone footage to be repurposed for use on handheld devices, for civilian use that has far greater commercial potential than military alternatives.
Ookami has confirmed that it has secured an allocation in what it calls a “Token Generation Event” (TGE) to be undertaken by US-based company, Soar.
Akela will receive a cash payment for marketing services rendered, as well as receiving “native” Soar tokens.
Soar is seeking to develop the world’s first decentralised global platform for the distribution and monetisation of drone data and content.
The project was derived from a product developed in partnership with the US Military for tactical applications in the field, but with a recent redesignation, the technology is now “out of exclusivity” thereby granting Soar and Ookami a potential pathway to commercialising the drone mapping technology — and making it available for sophisticated Australian investors.
Boutique technical venture capital investment firm Lateral Capital Ventures has been appointed Lead Manager for the Australian component of the TGE.
According to Ookami, the venture is seeking to raise $US20 million from sophisticated and professional investors, with US$15 million to be offered through a pre-sale offering at an issue price of US$0.15 per SkyMap (SKYM) token, and US$5 million to be offered through a public sale at an issue price of US$0.20 per SKYM token.
Akela has secured an allocation for its clients under Soar’s pre-sale offer, with Soar’s public offer expected to close in June 2018, although the company states this date is “subject to change”.
The pre-sale phase is due to commence on 19th April 2018, according to Soar.
From Ookami’s perspective, the offer has been made available only existing Akela verified sophisticated and professional investors, or those who qualify and verify prior to the close of the Soar’s official offer.
Via the collaboration with Soar, Ookami’s Akela platform is seeking to expand its horizons into all possible technological applications that can benefit from cutting edge developments including blockchain.