Under Challenging Market Conditions Security Matters (Nasdaq: SMX) Closes New Round Of Financing Bringing Total Amount Raised To $7.34 Million In Two Tranches

Liquidity is a key measure of how well financial markets are working. It refers to how easily assets can be bought or sold—and when it dries up, it can be disruptive. After more than a decade of abundant liquidity and relative calm in markets, central bank interest-rate increases to contain inflation have been accompanied by elevated market volatility.

But with news released today that Security Matters SMX has closed an additional round of funding in the amount of $2.5 Million bringing the total amount raised in 2023 to $7.34 Million, the company has positioned itself to become a leader in the technology space with the ability to  unlock the way global business will operate tomorrow by enabling a real-world circular economy. With its tracking software originally developed for the transition to a circular economy positive, productive and profitable for everyone in the value chain – and for the planet, SMX is now poised to expand its client base at a rapid pace.

To understand the impact of what this new capital raise will have on the company, one must first take a look at how SMX has created an innovative technological offer consisting of an invisible molecular marker, detector and blockchain platform to track, verify, grade and sort the type of materials being used in plastic manufacturing. The system can embed and detect key information crucial for recycling and reuse – such as the type of plastics, percentage of recycled content and how many times this specific material has been recycled (i.e., loop count). Its patented innovative technology looks at polymer and monomer levels, diving deep into the molecular structure and prognosing its viability for production and continual reuse. 

The SMX technology can identify and verify the history of the recycled plastic (i.e., its origin, number of loop counts and type of plastic composition), and create new applications with the material, even creating new material to be used. This works by identifying the molecular composition of each material scanned, which is stored digitally in our system - creating a baseline for value, our innovation for giving materials memory.

The technology has a solid foundation, being utilized by the Israeli government for over a decade before being scaled and adopted for commercial use. With an elite Advisory Board composed of Board members from several NASDAQ companies and the former Head of the National Cyber Bureau of Israel, Ex Chair of Israel’s biggest bank (Hapoalim), Mr. Yair Serousi, also of NASDAQ ZIM and NASDAQ Enlight, SMX possesses strong credentials and a solid reputation backed by over 100 patents filed, at various stages, for specific industrial applications. SMX has the ability to unite the ecosystems of the physical world and the digital world by giving materials memory in the materials themselves.

When reached for comment, Security Matters CEO Haggai Alon stated, “SMX wants to thank our new investors. We have finalized our growth funds stage, with $7.3M that were raised in two tranches. Cash is king in these uncertain markets, and with these funds we are set  to generate strong commercial results in Q4, and will create a faster deployment and adoption rates in all key markets; Gold and Silver, fashion and luxury, plastic and rubber, cyber hardware, and food security for food main commodities. Our current clients are some of the biggest companies in the world and we are in talks with many more potential partners who can greatly benefit from our unique technology that will make our planet a better place to live in. As I always say, Don’t Stop Thinking About Tomorrow.”

According to the company, the new funds will be used to expand its sales team and marketing efforts in order to reach a wider audience of potential customers. With all of this positive news, the company certainly seems poised for an excellent remainder of the year and beyond. Investors have appeared to take notice of these recent developments with SMX seeing heavy trading volume over the last few sessions. The future looks bright for Security Matters and the circular economy that the world so desperately needs.

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice.