Duos Subsidiary, Duos Edge AI Entered Into Secured Promissory Notes For A Total Of $2.2M With Two Institutional Investors In The Company
Duos Technologies Group, Inc. ("Duos" or the "Company") (NASDAQ:DUOT), through its operating subsidiary Duos Edge AI, Inc. ("Duos Edge AI"), a provider of adaptive, versatile, and streamlined Edge Data Center ("EDC") solutions tailored to meet evolving needs in any environment, announced today that it has secured sufficient funding for the production of its first three EDCs. Duos Edge AI entered into secured promissory notes for a total of $2.2 million with two institutional investors in the Company. The funding will be used for the construction, deployment and initial operations of EDCs in remote districts, including for schools, government, and health facilities. The first EDC is expected to be in full production by late October, with the second and third units following closely and expected to be in production by November.