IntelliAM AI plc, the software company leveraging the power of AI and machine learning in the manufacturing industry, is set to make its stock market debut.

The company has announced that dealing in its ordinary shares will commence from 8am on Wednesday, July 3 on the Aquis Stock Exchange Growth Market.

IntelliAM has raised more than £5m in the placing. On admission and 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 proactively increase operating efficiency of the existing assets of its manufacturing clients, which include many of the world’s top food and beverage groups.

The company achieves this by harnessing vast amounts of data from clients’ machines and operational systems processed through the IntelliAM platform to provide actionable insights.

These encompass areas including productivity, reliability and supply chain optimisation as well as energy efficiency and sustainability.

Tom Clayton, chief executive of IntelliAM, said:
“We're building a world leader in AI and manufacturing productivity leveraging our rich engineering heritage in South Yorkshire.

“Our goal is to revolutionise global manufacturing, boosting output and returning prosperity to our industrial heartlands.

“By combining our deep manufacturing expertise with cutting-edge AI, we're creating high-value jobs and demonstrating that AI can be a force for job creation and regional economic rebalancing.”

The initial public offering is understood to be the first IPO by a UK small tech company in recent years.

IntelliAM is based in Dinnington, South Yorkshire. It is using the funds raised to invest in people and technology.

Mayor of South Yorkshire Oliver Coppard said:
“Congratulations to IntelliAM on its successful fundraising, which brings new investment into our region.

“This company embodies the spirit of innovation that has always driven South Yorkshire, now applying our industrial prowess to the cutting edge of AI.

“IntelliAM's success demonstrates how our region can leverage its deep engineering expertise to create high-value jobs and spearhead innovation in the global economy.”

Company directors include CEO Tom Clayton, chief financial officer Daud Khan, chief operating officer Keith Smith, non-executive chairman David Richards MBE and independent non-executive directors Dame Julie Kenny and Professor Keith Ridgway CBE.

Mr Clayton is the founder of 53 North, the established manufacturing asset management consultancy.