Rotherham AI goes public

With offices in Dinnington, Rotherham, IntelliAM uses AI models to proactively improve the operational performance of the company’s existing manufacturing clients’ assets. The group achieves this by leveraging vast amounts of data from clients’ machines and operational systems, processed through the IntelliAM platform, to provide clients with actionable insights covering a wide range of areas including productivity, reliability and supply chain optimisation, as well as energy efficiency and sustainability.

The platform can be used to determine optimal operating speeds or machine settings, assist with storage and hygiene processes, and help predict and prevent component failures. The goal is to increase production levels and reduce downtime.

Aquis Stock Exchange is specifically designed for growth businesses and offers the first step towards becoming a publicly traded company. The move follows an initial fundraising with venture capital funding and technology know-how from Yorkshire AI Labs.

The shares traded to generate gross proceeds of £5,079,989, giving IntelliAM a market capitalisation of around £15.4m.

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The share issue also enabled the completion of the acquisition of 53 North for £5 million and the issue of new shares, increasing the market capitalisation to £19 million.

Based in Dinnington, 53 North provides a wide range of asset management and asset strategy consultancy services to manufacturers, particularly in the FMCG sector, including McVities (Pladis), Mars, Diageo and PepsiCo.

Leveraging 53 North’s existing customers, IntelliAM’s strategy is to organically grow its technology platform, while also implementing a robust go-to-market strategy to support its ambitious growth plans. The remaining proceeds (around £3 million) are to be used for continued R&D to accelerate development of the platform and software modules, to hire additional key staff (machine learning data scientists and software engineers), and to fund ongoing working capital costs.

Tom Clayton, CEO of IntelliAM, said: “We are delighted to join the AQSE Growth Market as we combine our established manufacturing asset management consulting with our recently developed and launched IntelliAM AI platform. We believe this platform has tremendous and proven potential to reduce unplanned production downtime, improve manufacturers’ operational efficiency and ultimately increase our customers’ profitability.”

Clayton founded 53 North Group over a decade ago. David Richards, co-founder and former CEO of WANdisco Plc (now Cirata Plc), is a non-executive director of IntelliAM, alongside Professor Keith Ridgway CBE and Dame Julie Kenny DBE DL, who both hold independent non-executive directorships.

IntelliAM website

Photos: Yorkshire AI Labs