The blockchain digital twin business Security Matters (SMX), which is listed on the Australian Securities Exchange (ASX), is raising AUD 6.1 million ($4.7 million). The business is active in two high-profile environmental, social, and governance (ESG) ventures.

It collaborated on the trueGold project with the Perth Mint to ensure the gold is ethically sourced. It’s also a part of BASF’s reciChain plastic recycling initiative.

“What we’ve done with this (latest) raise is put SMX as the market’s leading ESG effect platform,” said Haggai Alon, CEO of Security Matters.

“SMX continues to make significant progress on its strategic plan for SMX technology adoption and scale-up through various and emerging business segments around the world.”

The company’s technology is being used to permanently label any item, whether it’s a solid, liquid, or gas, to allow for identification, proof of authenticity, and traceability.


Although most of the funds will be used for general working capital, the company expects to spend AUD 1 million on conveyer readers for sorting and recycling facilities and AUD 0.5 million on gold industry applications.

On the other hand, the firm is not cash-strapped, as its balance sheet at the end of last year showed USD 4.34 million in cash.

Several blockchain companies are focusing on the ESG (Environmental, Social, and Governance) market. Everledger, Circular, and Circularise are a few examples.

On the other hand, security matters are based on the technologies used to build the digital twin and link it to a blockchain.

On the other hand, most others concentrate on blockchain and apps and frequently rely on third-party technology to build the digital twin.

For DNA tagging, Everledger, for example, uses Applied DNA’s CertainT platform. The iTRACE and SecureMarking technologies are used in Honeywell’s aircraft parts solution.