GenIP has issued an update to its Schedule One form filed with the London Stock Exchange, revealing the Generative AI company enjoyed strong investor demand during its IPO fundraise.
The company is set to be one of very few Generative AI-dedicated companies listed in London, which was reflected in the strong demand for shares during the fundraising process.
After initially setting out to raise £1.5m, the company has raised £1.75m, according to a stock exchange announcement released on Thursday.
“We believe that GenIP’s unique business model offers investors a valuable opportunity to engage with the rapidly expanding Generative AI analytics market and the research institutions and technology companies that fuel much of the world’s innovation,” said Melissa Cruz, CEO of GenIP.
GenIP is the latest IPO from Tekcapital, the technology incubator listed on AIM. Tekcapital’s most recent IPO was low-sodium food technology company MicroSalt, whose shares triple within six months of listing on AIM.
GenIP’s first day of dealing is scheduled for 2nd October.