Insig AI PLC (AIM:INSG), a small-cap AI-driven data group, has reported a 64% jump in quarter-on-quarter revenue.
At the same time, it announced up to £700,000 of new funding – from a £350,000 share placing to investors, and a £350,000 equity facility with CEO Richard Bernstein.
Proceeds are expected to enable Insig AI to rapidly scale capabilities.
"The substantial growth in revenues over recent quarters underscores the strength and relevance of our product offering in the marketplace,” chief executive Richard Bernstein said in a statement.
“The additional capital secured through this subscription ensures we can rapidly scale our capabilities, execute our growth strategy effectively, and fully capitalise on the increased customer demand we anticipate in the coming months."
Revenue for the third quarter, ended 31 December, to rose to £131,000 and, significantly, Insig AI anticipates fourth-quarter revenue will reach £224,000.
The growth comes amid strengthening demand and engagement with potential customers, the firm added.