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Verses Closes Final Tranche Of Convertible Debenture Financing For Aggregate Proceeds Of C$7.5M

TAKEN PRIVATEMar 31, 2023

Round Type

Convertible Note

Culver CityInformation TechnologySoftwareArtificial IntelligenceMachine LearningNatural Language Processing

Description

VERSES AI Inc. (NEO:VERS) (OTCQX:VRSSF) ("VERSES'' or the "Company”), a cognitive computing company specializing in the next generation of Artificial Intelligence (AI) solutions, is pleased to announce that further to its news release dated February 27, 2023, March 1, 2023 and March 22, 2023, it has raised additional gross proceeds of C$600,000 under the third and final tranche of its non-brokered private placement (the “Private Placement”) of unsecured convertible debentures units of the Company (“Units”) comprised of Convertible Debentures (as defined herein) and Warrants (as defined herein) through the sale of unsecured convertible debentures of the Company ("Convertible Debentures") in the principal amount of C$600,000 and 210,000 detachable warrants (“Warrants”) to purchase Class A Subordinate Voting shares of the Company (“Shares”). Please see the Company’s news release dated February 27, 2023 for additional details regarding the terms of the Private Placement.

Quick answer

Verses Technologies raised an undisclosed amount in a Convertible Note round, dated March 31, 2023. Verses Technologies is based in Culver City, California, United States.

How much did Verses Technologies raise?
Verses Technologies raised an undisclosed amount in a Convertible Note round on March 31, 2023.
What does Verses Technologies do?
VERSES is a cognitive computing company specializing in next-generation Artificial Intelligence.
Where is Verses Technologies based and how big is it?
Verses Technologies is based in Culver City, California, United States. Fundz records about 152 employees.
Who are the decision-makers at Verses Technologies?
Fundz holds 2 contacts at Verses Technologies. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Natural Language Processing and Software around the same time

Companies in the same sectors as Verses Technologies that raised within 45 days of this round, from Fundz verified event records.

  • Seekr raised $4.3M (Seed) on May 11, 2023.
  • Cranium Al raised $4.7M (Seed) on May 10, 2023.
  • Parloa raised $21M (Funding Round) on March 30, 2023.
  • Seldon raised $24M (Series B) on March 16, 2023.
  • Amelia raised $175M on March 7, 2023.
  • Glider AI raised $10M (Series A) on March 7, 2023.

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Company Information

Company

Verses Technologies

Location

2121 AVENUE OF THE STARS

Culver City, California, United States

About

VERSES is a cognitive computing company specializing in next-generation Artificial Intelligence. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES flagship offering, KOSM™, is a network operating system enabling distributed intelligence. Built on open standards, KOSM transforms disparate data into a universal context that fosters trustworthy collaboration between humans, machines, and AI, across digital and physical domains. Imagine a smarter world that elevates human potential through innovations inspired by nature.

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Verses Technologies raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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