Lift Global Ventures plc, an investment company focused on technology and financial media, has rebranded as Yorkshire AI PLC and appointed Dave Richards MBE as executive chair.
The Sheffield-based firm has an ongoing working relationship with Yorkshire AI Labs and has decided to change its name – subject to shareholder approval – to reflect its sharpened focus on AI. Richards was previously non-executive chair at the firm.
YAIL, of which Richards is a partner, is an applied AI research and venture-development organisation. It works with universities, corporates and early-stage founders to identify and help build scalable AI businesses.
The rebranded Yorkshire AI PLC says it will gain early and ongoing access to a pipeline of innovative AI ventures addressing opportunities in manufacturing, healthcare, finance and energy as a result of the partnership.
It has also this morning announced a share exchange with IntelliAM Al PLC, a manufacturing AI firm based in Dinnington, South Yorkshire and listed on the Aquis exchange. It now holds 0.45% of the entire share capital of IntelliAM AI.
Multiple-exit entrepreneur Richards is the founder and former CEO of WANdisco. He stepped down during an investigation into a fraud scandal – related to the actions of a single sales employee – and the firm subsequently rebranded to Cirata plc.
IntelliAM AI has secured contracts with major industrial names, including Hovis Ltd, where deployments have expanded across multiple sites, and says it has achieved its first US order from a leading food manufacturer.
It has a strategic collaboration with Connection Technology Centre (CTC) in the United States.
“The shareholding in IntelliAM provides immediate exposure to a proven SaaS business model in a global smart-manufacturing market and is the first transaction in a planned pipeline of AI investments developed with YAIL,” stated Lift Global this morning to the London Stock Exchange.
Mark Horrocks, a non-executive director of the company, added: “Our mission is simple: to back the pioneers of artificial intelligence who are redefining industries and creating lasting economic value. IntelliAM exemplifies that ambition as a homegrown Yorkshire company using AI to make manufacturing cleaner, smarter and more competitive.
“This marks the start of something much bigger for the Company. By combining the expertise of our working relationship with Yorkshire AI Labs with the access and visibility of a public company, we are building a platform capable of turning Yorkshire into a global centre for applied AI innovation. We are backing real companies solving real problems and delivering tangible returns for our shareholders.
“I am delighted that David Richards has accepted the appointment of executive chairman in order to drive our push into AI. David’s forward-thinking approach ensures that the company remains at the forefront of AI advancements, capitalising on emerging opportunities.
“His established connections within the industry will facilitate partnerships and investments that are crucial for growth. We are excited to leverage his expertise and vision to propel the company into a leading position in the AI investment landscape.
“The new identity aligns the company with its long-term vision to champion the growth of world-class AI companies from the North of England and beyond, connecting capital, talent and innovation.”
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