NetScientific PLC (AIM:NSCI), the tech and life sciences VC investment group, confirmed a successful £1.5 million fundraising for its portfolio company Q-Bot Limited, the robotics-as-a-service company.
The fundraising, led and syndicated by EMV Capital, included a subscription for £1.25 million in new Q-Bot shares and a £250,000 loan facility, part of a refinanced loan of approximately £785,000.
This follows an earlier fundraising in 2024 of approximately £1.4 million, also led by EMV Capital, which offered advance subscription agreements and a convertible loan agreement.
The new funds will provide Q-Bot with working capital to implement its new business plan, which involves dividing into two separate units: an installations business and a technology-focused business.
This restructuring aims to attract investment for the installations unit to reach break-even and accelerate growth, while the technology unit will operate independently to target opportunities in the US and EU.
NetScientific’s direct participation in the fundraising includes a nearly £350,000 subscription for Q-Bot shares, settled by issuing new ordinary shares at 85p each, a 35% premium to the closing price on Monday.
Following this investment, NetScientific’s holding increased to 17%, equating to a post-investment value of £2.7 million.
EMV Capital's EMVC Evergreen EIS Fund also participated in the advance subscription agreement.
Ilian Iliev, boss of NetScientific and investment director of Q-Bot, said: "We wish [Q-Bot] every success in executing its plans to grow the technology platform, including on an international scale, whilst servicing a high-quality existing UK sales pipeline."