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Vection Technologies Receives Over AU$1 Million of Government Grant Funding; Shares Gain 5%

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Vection Technologies (ASX:VR1) received AU$1.2 million in cash from government research and development programs for product development purposes, according to a Monday filing with the Australian bourse.

The company said it will use the funds across four targeted innovation projects and to expand collaboration potential, while also improving its working capital position.

The four targeted technology domains include inclusive artificial intelligence and sign language translation, cultural and museum AI, immersive heritage visualization, and AI-powered digital health rehabilitation.

Vection Technologies shares gained 5% in recent Monday trade.

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