IntelliAM raises £6.3m to move to AIM and push into the US

IntelliAM, which sells AI software to manufacturers, said on 22 October that it had conditionally raised about £6.3m by placing 8,919,598 new shares at 70p, a 12.5% discount to the 80p closing price on 19 October. It also plans to leave the AQSE Growth Market for the London Stock Exchange’s AIM, with dealings expected to start on 20 November if shareholders approve the deal at a general meeting the day before.

The company was founded in 2023 on the engineering base of 53 Degrees North, an asset care business it acquired in July 2024. It typically wins customers through consulting and engineering work, then sells its software across more production lines and sites, and says it is moving toward a software-led recurring revenue model. In the year to 31 March 2026, revenue rose 64% to £5.26m, or 35% on an organic basis, and annual recurring revenue (ARR) doubled to £1.65m. The adjusted EBITDA loss widened to £906,000 from £157,000. It raised £500,000 through shares and loan notes in July.

Of net proceeds of about £5.6m, the company expects about 40% to go on sales and marketing, particularly customer acquisition in the US, where 10 of its existing customers are headquartered and 16 more have sister sites. It has opened an office in South Carolina, signed a memorandum of understanding in September for SkyIO, a South Carolina industrial automation firm, to act as its agent and integrator, and appointed Simon Wilson as US growth adviser. The plan includes four sales and marketing hires over the next 12 months.

Tom Clayton, chief executive, said when the company reported its results on 22 July: “While larger customer opportunities extended sales cycles, underlying demand remains strong and the quality and scale of our pipeline continue to improve.”