Caason Group announced today that it is raising $500k for MOVOX via a new convertible note.
MOVOX is an NBN-ready, cloud-based unified communications phone company. The legislated shut down of ISDN services from 30 September 2019 will trigger hugetelephony convergence among Australian SMEs.
MOVOX will use the latest convertiblenote funds for the final stages of development and integration of its unique proprietary software. This enables MOVOX to automate the on-boarding of customers. Our latest capital raising follows our MOVOX restructure in June 2019, where we converted debt to equity tobecome a significant shareholder. Caason also provided financial support10-months ago in a pre-seed convertible note.
Craig Astill, Caason Group MD & CEO and newly appointed MOVOX Executive Director, said: “MOVOX has worked hard on partnerships, software development and their website over the last few months and we are excited about the next stage of funding which will power their commercial launch.”