Dona Ferentes
A little bit OC⚡DC
- Joined
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listed as SOV in 2020Following these concerns, the government is now considering restricting foreign cloud companies from handling certain government data sets - which could prove to be a major win for small local players like soon-to-be-floated AUCloud. AUCloud is positioning itself as Australia's sovereign cloud Infrastructure-as-a-Service (IaaS) provider, and is exclusively focused on government and critical national infrastructure industry communities.
AUCloud initially raised $10 million in 2017 from seed investors including Icon Group founders Cathie Reid and Stuart Giles, a personal investment from Paradice Investment Management fund manager, James McBeath and Bevan Slattery. A year later it raised another $10 million. WAM Microcap Fund tipped in $2.5 million via a cornerstone placement. AUCloud this year has raised nearly $7.5 million via a rights issue, in which serial entrepreneur and founding investor Bevan Slattery took up his full rights.
Ms Reid, who is chairman, Mr Giles and Mr McBeath's family together control nearly 40 per cent of AUCloud, which is slated for an ASX listing in either November or December.
Edit: hasn't done very well at all.
SOV - Sovereign Cloud Holdings
AUCloud is an Australian sovereign cloud Infrastructure as a Service (IaaS) provider exclusively focused on the Australian Government, the Australian Defence Force (ADF) and Critical National Industry communities (CNI). The Australian Government invests in Information and Communication...
www.aussiestockforums.com
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