A startup labelled the ‘Swiss Army Knife for SME growth’ has raised £550,000 of investment.
Pri0r1ty AI PLC, looking to be listed on London’s junior AIM market, delivers custom AI GPT solutions for customers. Its business growth services range from investor relations to commercial lending.
Primorus Investments plc has subscribed for 18,100,000 ordinary shares for a total consideration of around £300,000.
The shares represent approximately 8.45% of the issued share capital of Pri0r1ty.
For the year ended 2023, Pri0r1ty made a loss of £51,530.
Last month Special Purpose Acquisition Vehicle Alteration Earth PLC agreed heads of terms to acquire the entire issued share capital of Pri0r1ty. The deal is subject to legal, financial and other due diligence and is not guaranteed to go through.
The announcement came following news that a deal between Alteration Earth and Australian biomass technologies firm Verdant Earth Technologies had fallen through.
“We are delighted to welcome such a well-regarded technology investor as Primorus as a shareholder,” said Daniel Gee, CEO and co-founder of Pri0r1ty.
“This investment round supported by Primorus has allowed us to accelerate our go to market strategy and expand our team with a wealth of experience from the SaaS industry.
“These funds will allow us to become revenue generating and welcome the first customers to Pri0r1ty Advisor, our flagship product.
“We are excited to onboard waiting list customers and release further product developments ahead of our proposed admission to AIM.”