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Highlights

  • InFocus launches InFocus Digital Ventures (IFGDV) to expand into digital assets, AI, and big data.

  • Mythos Group commits AUD 10 million in conditional financing, with an initial AUD 2.5 million advance.

  • Planned projects include gamification of the Frugl grocery app and further blockchain-based developments.

InFocus Group Holdings Limited (ASX:IFG), a data analytics and software solutions company, has announced the establishment of InFocus Digital Ventures (IFGDV), a dedicated division to drive new initiatives in digital assets, artificial intelligence, and big data. The creation of IFGDV marks a strategic step for InFocus, combining its established service and product businesses with next-generation digital technologies.

The division is designed to expand upon InFocus’s core capabilities by exploring new opportunities in regulated digital asset markets, blockchain ecosystems, and AI-powered solutions. Projects under review include gamification features for the Frugl grocery app, offering users incentives such as reward points, alongside further developments in iGaming and stablecoin initiatives.

To support IFGDV’s activities, InFocus has secured binding conditional financing commitments of up to AUD 10 million from Mythos Group, a multi-strategy digital asset holding company with a presence across Asia-Pacific. Mythos will also act as an advisor to the company on future ventures in the digital assets and cryptocurrency sectors.

The funding will be structured through Convertible Notes priced at AUD 0.01525 per share, subject to shareholder and regulatory approvals. Shares issued under the facility will be subject to staged lockups, with 30% restricted for 90 days, 20% for 180 days, and 50% for 365 days. An initial AUD 2.5 million advance will be provided, which InFocus intends to temporarily hold in the Monochrome Bitcoin ETF (IBTC) before deploying the funds into new business initiatives and general working capital.

InFocus also outlined the indicative use of the initial AUD 2.5 million. Planned expenditure includes AUD 1.05 million towards technology development for gamification and rewards systems within the Frugl grocery app, AUD 750,000 for staff expansion to service future projects, and AUD 200,000 for the discovery phase of scoping potential opportunities. Additional allocations include AUD 100,000 for marketing, AUD 60,000 in advisory fees to Mythos, and AUD 340,000 for working capital.

Chief Executive Officer and Executive Director, Ken Tovich, said the new division represents a significant evolution for the company. 

IFGDV will act as a launchpad for InFocus’s growth in frontier digital technologies, enabling the company to connect its service business—Onify, Prodigy9, and InFocus Analytics—with product offerings such as the Frugl grocery app.