South Yorkshire-based software firm IntelliAM AI has listed on the Aquis Stock Exchange with an initial market cap of £15.4m.
Its total market cap is set to rise to £17.9m on Thursday following the acquisition of physical asset management company 53 North.
Founded in 2023, IntelliAM develops AI models for the manufacturing industry. The firm gathers data from client equipment to create tailored machine learning models to track performance and maintenance needs.
The startup’s models examine manufacturing assets for productivity, reliability, supply-chain optimisation and energy efficiency.
IntelliAM, listed on the Aquis exchange under the ticker INT, raised £5m from the float.
“We are delighted to be joining the AQSE Growth Market at a time when we have combined our established manufacturing asset management consultancy with our more recently developed and launched IntelliAM AI platform,” said the group’s CEO Tom Clayton.
“We believe that this platform has immense and proven potential to reduce unscheduled manufacturing downtime, improve producer operating efficiencies and thereby increase our clients’ profitability.”
Aquis is a self-described “challenger stock exchange” targeting small to medium IPOs. Aquis launched its exchange in 2020 aiming to take on the London Stock Exchange’s sub-market AIM.
The UK’s public markets have had precious few tech listings to celebrate over the last year. However, the June IPO of budget personal computer maker Raspberry Pi offered the City a rare respite, with the company raising £166m from its public debut.
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