SEED Innovations Ltd (AIM:SEED, OTC:FFRIF) has made its first investment under its revised robotics and artificial intelligence strategy, putting US$1 million into US-based Feather Robotics.
The AIM-quoted investing company said the investment, equivalent to around £740,000, was made from existing cash resources through a Simple Agreement for Future Equity, or SAFE.
The SAFE will convert into equity at Feather’s next qualifying funding round or other liquidity event, at the lower of that round’s valuation and a US$60 million valuation cap. It is unsecured, non-repayable and does not carry interest.
Feather is developing modular humanoid robotic systems for deployment in industrial environments, with SEED highlighting its focus on practical use cases rather than research applications. Its platform is designed to be adapted across a range of industrial processes and to address mobile and intermittent tasks not well suited to fixed automation.
Jim Mellon, SEED’s non-executive chair, said the deal reflected a shift in applied AI and robotics “from concept to real-world deployment”, adding that Feather had already delivered its first customer system and demonstrated practical use.
In London, the share was up around 9%, changing hands at 3.37p.