Software firm to float with market capitalisation of £17.9m

IntelliAM AI plc, a South Yorkshire-based software company that harnesses the power of artificial intelligence and machine learning in the manufacturing industry, is preparing to float on the stock exchange.

The Company confirmed that trading in its common shares will begin on Wednesday, July 3, at 8:00 a.m. on the Growth Market of the Aquis Stock Exchange.

IntelliAM has raised over £5m in a public offering. Following the completion of the acquisition of manufacturing asset management consultancy 53 North, the company will have a market capitalisation of around £17.9m.

IntelliAM uses AI models to improve the operational efficiency of existing assets of its manufacturing clients, which include many of the world’s leading food and beverage groups.

The company achieves this goal by leveraging massive amounts of data from customer computers and operating systems, processed using the IntelliAM platform, which allows it to draw actionable insights.

These cover areas such as performance, reliability and supply chain optimization, as well as energy efficiency and sustainability.

Tom Clayton, CEO of IntelliAM, said: “We are building a world leader in AI and manufacturing efficiency, leveraging our rich engineering heritage in South Yorkshire.

“Our goal is to revolutionize global manufacturing, increase production and restore prosperity to our industrial heartland.

“By combining our extensive manufacturing experience with cutting-edge AI, we are creating valuable jobs and demonstrating that AI can be a driver of job creation and regional economic rebalancing.”

The initial public offering is believed to be the first public offering by a small British technology company in recent years.

IntelliAM is based in Dinnington and uses the funds raised to invest in people and technology.

Mayor of South Yorkshire, Oliver Coppard, said: “We congratulate IntelliAM on their successful fundraising campaign, which has attracted new investment to our region.

“This company embodies the spirit of innovation that has always driven South Yorkshire and now leverages our industrial expertise in cutting-edge AI.

“IntelliAM’s success demonstrates how our region can leverage its deep engineering expertise to create valuable jobs and lead innovation in the global economy.”

The company’s board comprises Chief Executive Tom Clayton, Chief Financial Officer Daud Khan, Chief Operating Officer Keith Smith, Chairman David Richards and Independent Non-Executive Directors Dame Julie Kenny and Professor Keith Ridgway.

Clayton is the founder of 53 North, a leading manufacturing asset management consulting firm.

IntelliAM will be listed under the symbol INT and ISIN number GB00BR56LJ77.