Proactive Investors - British artificial intelligence start-up GenIP has announced plans to float on London’s AIM market.
GenIP, which is backed by growth company investor Tekcapital PLC (LON:TEKT), has now filed a ‘Schedule One’ document with the London Stock Exchange for the proposed listing.
The company provides Generative AI (GenAI) analytic services that help companies, research institutions, and venture funds assess and commercialize new discoveries.
Its services include AI-enhanced research reports and executive recruitment tailored to the technology sector.
GenIP’s client portfolio includes Brazil’s National Nuclear Energy Commission CNEN, Fundación Copec UC, and the University of Huddersfield.
"We are excited to announce the forthcoming IPO of GenIP,” Tekcapital executive chair Dr Clifford Gross said in a statement.
“A product of Tekcapital's technology incubator, GenIP's Invention Evaluator and Vortechs have been instrumental in commercialising numerous technological innovations, allowing them to develop from a clean piece of paper to operating companies and listed spinouts.
“Now, having forged commercial relationships with leading research institutions and successfully launched revenue-generating GenAI analytics services, we believe the Company is well placed for the next chapter of its growth story as a stand-alone Company providing GenAI services to the wider market.”
Tekcapital expects to own a 63% interest in the AI company following the stock market float, which seeks to raise around £1.5 million.
The company’s board will be chaired by Lord David Willetts, the current chair of the UK Space Agency, and will also include a non-executive director seat for Dr David Gann, the former chair of the UK Atomic Energy Authority.