- Successful AIM float priced at 39p
- Gives investors access to fast growing market
- GenAI analytics could reach $10 billion by 2032
IPOs (initial public offerings) have been thin on the ground in 2024, so it is encouraging to see GenAI (GNIP:AIM) successfully list its shares today at 39p, giving the generative artificial intelligence analytic services company a market capitalisation of £6.83 million.
In early trading the shares were trading close to their placing price. The flotation marks the fourth spin-out from incubator Tekcapital (TEC:AIM) following the successful IPO of MicroSalt (SALT:AIM) in January 2024.
GenIP’s CEO Melissa Cruz commented: ‘I’m thrilled that GenIP has captured the attention of London’s technology-focused investment community. I’m looking forward to demonstrating GenIP’s revenue-generating capabilities as we assist our clients in commercialising leading technological innovations.’
TAPPING INTO A HIGH GROWTH MARKET
The market for generative AI analytics is expected to grow exponentially over the next few years, growing at a compound annual growth rate of 27% to reach $10 billion by 2032, according to market research firm Precedence Research.
GenAI helps companies, research organisations and venture funds assess and commercialise new discoveries using AI-driven proprietary software.
The firm’s Invention Evaluator platform provides bespoke research reports that assess market potential of new innovations and discoveries while its Vortechs platform uses machine learning and NLP (natural language processing) technologies to find the right executives for the business.
US technology company Hewlett Packard (HPE:NYSE) has been a historic client for pre-AI versions of the Invention Evaluator platform while MIT (Massachusetts Institute of Technology) has been a client for the pre-AI version of the Vortechs platform.
More than 5,800 reports to over 300 research organisations and corporations have been delivered for the pre-AI versions.
The company launched the AI version of its platforms in September and has secured 40 orders for its analytical assessments’ platform and three executive search assignments.
In the year to 31 December 2023, GenIP generated revenue of $280,000, up 42% year-on-year.
In a recent presentation the company said: ‘InventionEvaluator’s new reports are now enhanced with GenAI algorithms, making the reports more comprehensive, enabling availability of the reports in multiple languages, whilst shortening delivery times and cutting preparation costs.’
