Playcast Media Systems Ltd.announced a private placement of convertible loan for gross proceeds of $3 million on July 14, 2013. The transaction included participation from existing investor Xenia Venture Capital Ltd and other investors. Xenia Venture Capital Ltd contributed $0.45 million of loan in the transaction and holds 13% stake in the company.

On July 14, 2013, Playcast Media Systems Ltd. closed the transaction.