IntelliAM AI (LSE:INT) has raised £500,000 gross through a placing and the issuance of convertible loan notes (CLNs), directing the proceeds toward US operations, platform marketing and general working capital.
The raise comprises two tranches: a placing with existing institutional investors at an undisclosed issue price, and £280,000 of unsecured CLNs carrying a 12% payment-in-kind coupon over a 60-month term, with conversion at the lower of the next qualifying raise price or 70p per share.
The UK-based industrial AI software business applies machine learning to asset performance and reliability across more than 240 manufacturing sites globally, processing approximately 16 billion data points annually, and reported unaudited pro forma revenue of approximately £5.25 million for FY26, up 35% year-on-year, with annual recurring revenue doubling to approximately £1.65 million.
Chief Executive Tom Clayton said the funding would "accelerate our United States operations and support marketing around the launch of the new IntelliAM platform," adding that first-quarter commercial progress had included new customer wins at Chivas Brothers, Yeo Valley and Valeo Confectionery.
The board guides revenue growth of more than 20% in each of FY2027 and FY2028, with the company also planning to enter an invoice discounting facility in the coming weeks.
Admission of any new placing shares is expected to become effective by 8 July, with the CLNs carrying a bullet repayment at maturity and an early redemption option available to the company only after the second anniversary of issuance.
