dorsaVi Ltd (ASX:DVL) has received firm commitments to raise $3.0 million before costs through a share placement, according to an announcement released to the ASX on 6 October 2026. The company said the funds will support its plans to Supply human movement data to humanoid robotics developers and to advance its resistive random-access memory (RRAM) chip programme.

Placement terms

The company said it received the commitments over the weekend from new and existing sophisticated, professional and high net worth investors. It will issue 136,363,636 new fully paid ordinary shares at $0.022 each. Of these, 13,363,636 shares will be issued under the company's ASX Listing Rule 7.1 capacity and 123,300,000 under its Listing Rule 7.1A capacity.

Placement participants will also receive one free attaching unlisted option for every two shares, a total of 68,181,818 options. Each option has an exercise price of $0.045 and expires three years after issue.

According to the announcement, the $0.022 issue price represents a 15% discount to the 10-day volume-weighted average price (VWAP) of $0.026 and an 8% discount to the 15-day VWAP of $0.024.

62 Capital led the placement. It will receive a fee of 6% of the gross amount raised plus 24,000,000 unlisted Options exercisable at $0.045 within three years of issue. Settlement of the new shares is expected on or around Monday 19 October 2026.

Use of funds

dorsaVi described its strategy as three connected verticals. The first is sensors and movement data, built on FDA-cleared and TGA-certified wearable sensors, Video AI and biomechanics expertise. The company said it launched Sensor v6.5 last quarter. The second is an "intelligence layer" based on neuromorphic intellectual property licensed from Technion. The third is semiconductors: an RRAM development programme with NTU and ITRI aimed at low-power, on-device intelligence.

The company said proceeds will be used to expand its library of clinical-grade human movement data and its bespoke data-capture capability for humanoid robotics developers, who need data on balance, coordination and recovery. Funds will also go towards exploring smart-soldier systems, aerial drones and autonomous underwater vehicles, and towards the neuromorphic and RRAM work. The remainder will fund partner evaluations, Working Capital and the costs of the offer.

On the chip programme, the company said its first RRAM-CMOS validation chip has completed front-end and middle-of-line fabrication on TSMC's CMOS process. The wafers now move to RRAM integration, which is intended to produce silicon data to guide planned development towards a future 22-nanometre RRAM-CMOS design.

Context and caveats

The company said discussions with prospective robotics and defence partners have reinforced its view that its sensor Business has value beyond its established clinical, sport and workplace markets. Chairman Gernot Abl said conversations with these partners "keep returning to the same point: a decade of clinical-grade human movement data, and the ability to capture more of it on demand, is a scarce asset."

The announcement is clear that these are early-stage opportunities. The company described the defence and robotics applications as "areas for targeted commercial and technical exploration rather than completed integrated products". It said its near-term focus is to define customer requirements and to convert discussions into partner evaluations. No commercial agreements with robotics or defence customers were disclosed.

Analysis: The Placement gives dorsaVi more capital for a strategy that extends beyond its wearable-sensor business. The key questions now are whether the partner discussions turn into paid evaluations or contracts, and whether the RRAM integration step produces silicon results that support further chip development. The attaching and broker options could add further shares if exercised. The next scheduled step is settlement on 19 October.