Loop Secures AUD 3 Million in Equity Funding from Sumitomo Corporation, Valuation at AUD 24 Million

Loop, a company, has received AUD 3 million in funding from Sumitomo Corporation, a new investor, in an equity round. The funding was raised at a post-money valuation of approximately AUD 24 million and represents a 12.5% stake in the company. The investor has committed to a third tranche investment, which will increase its ultimate shareholding to at least 20% but no more than 25%.