Sheffield AI firm IntelliAM raises £6.4M, plans move to AIM
What's the deal? IntelliAMDealroom has a profile for this one. Try Dealroom →, a Sheffield-based developer of AI-driven software for manufacturing and engineering, has conditionally raised about £6.4 million by issuing 9,206,412 new shares at 70p each. The total combines a £6.3 million placing, a £169,488 retail offer, and the conversion of £31,282 in convertible loan notes.
The details: The retail offer closed on October 28, 2026, raising its modest sum through 242,126 shares — well short of the offer's £500,000 ceiling. Cavendish Capital Markets acted as corporate adviser and broker. The round remains conditional on shareholder approval at a general meeting on November 19.
What's the endgame? Proceeds will support software commercialisation and US expansion, where IntelliAM has secured its first customer and opened a South Carolina office. The company also plans to cancel its AQSE listing and move to AIM, with trading expected to begin on November 20.
Why now? The raise follows FY26 revenue growth of 64% to £5.26 million and a doubling of annual recurring revenue to £1.65 million. But it also recorded an adjusted EBITDA loss of £906,000 and a net-overdrawn cash position of about £294,000 at August, making the capital relevant to its near-term ability to execute.
What could go wrong? IntelliAM warns the AIM admission could be affected by market conditions, with no guarantee it will proceed. Failure to pass the resolutions or meet admission conditions would stall both the fundraising and the venue switch.
The signal: The move to AIM could broaden investor access for a growing but still loss-making AI firm, trading a smaller venue for a larger one as it chases a US foothold.
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