AUS
NZ
UK
CA
USA
IND
Highlights
- Kaddy has joined hands with a strategic investor to speed up the growth of its platform.
- Cipherpoint's fully owned subsidiary ExciteIT secured two services contracts in December 2022.
- Immersive employee well-being company Limeade has collaborated with Tyson Foods.
Technology is one of the fastest-growing sectors across the globe. Australia has pioneered world-class technologies in various fields including education, agriculture, financial services, and health.
Innovation is focused on the deployment of immersive simulation technologies in the education space, robotics in medical procedures, blockchain in the finance services sector, and the Internet of Things in the agriculture sector.
Australia is also recognised as a leading player in the field of silicon-based quantum computing research, as per the Australian Trade and Investment Commission.
Here we have discussed few ASX stocks from the technology space. Read further to know about their recent updates and stock performance on the ASX.
Kaddy Limited (ASX:KDY)
ASX-listed tech space player Kaddy offers complete supply chain solutions to beverage suppliers. The company has roped in Mr Andrew Ong as its CFO. Holding financial and supply chain expertise, Mr Ong is likely to commence with the company on 6 February 2023.
Recently, the company announced an investment of up to AU$7.0 million by Triton Growth Management Pte Ltd, a strategic investor, via a convertible note. Kaddy plans to use the funding towards working capital and tapping opportunities to accelerate the growth of its unique and innovative technology platform both locally and internationally.
According to the terms, AU$0.7 million has already been paid, while AU$1.3 million is due by the end of January 2023. Kaddy is eligible for up to AU$5.0 million in additional investment, subject to mutual agreement from both parties.
Cipherpoint Limited (ASX:CPT)
Cipherpoint offers specialised managed IT, cloud, and cyber security services. ExciteIT, a recently acquired fully owned subsidiary of the company, has signed a supply contract with Lend Lease Retirement Living Management Services Pty Ltd.
The deal, valued at AU$1.73 million, covers software and hardware along with services related to discovery, security, and design in the next six months.
In order to support the rollout of VoIP Telephony in health centres across Australia, ExciteIT previously engaged in a services agreement with Healius Ltd. The contract has an initial value of up to AU$540K, covering services that will be provided during the next six months, as per the company update during mid-December 2022.
Spenda Limited (ASX:SPX)
Spenda Limited is a provider of various B2B payment services, integrated solutions, and digital trading software to industries.
In early December 2022, the company announced that Carpet Court has committed to integrating the Spenda Platform into its Standard Operating Environment ('SOE') across all Carpet Court member stores. Carpet Court is the largest retail floor covering specialist in the country.
The integration is expected by end-April 2023 and no later than June 2023 under any circumstance.
Under the terms of the agreement, Spenda will be eligible to SaaS fees in respect of the licence. It will also be eligible for fees based on transaction volume and integration fees.
Limeade (ASX:LME)
Limeade recently announced signing a three-year enterprise contract with American multi-national food processing company, Tyson Foods.
Under the terms of the contract, the technology company creating healthy employee experiences is likely to receive AU$5,011,200 over the period of the contract. This represents Contracted Annual Recurring Revenue (CARR) of AU$1,670,400.
The platform is due for roll out in April next year.
