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Frontier IP ups stake in AI logistics firm Celerum

Celerum is a spin-out from Robert Gordon University in Aberdeen to commercialise the work of professor John McCall, the head of its computing, science and digital media school

Frontier IP Group PLC - Frontier IP ups stake in AI logistics firm Celerum

Frontier IP Group PLC (LON:FIPP) has increased its stake in artificial intelligence (AI) firm Celerum Limited to 33.8% from 10%.

The IP investment group said it had acquired the increased stake in return for an investment of £25,000 as well as converting a previous loan of £21,818 into equity and providing £50,000 worth of strategic, business and hands-on software development services.

READ: Frontier IP’s Exscientia begins clinical trial for world’s first AI-created drug

Celerum, which was spun out from Robert Gordon University in Aberdeen, is developing an AI to help businesses improve the operational efficiency of their logistics and supply chains.

"We are delighted to increase our equity stake in Celerum. The Company's artificial intelligence has already proved its worth with industry, and clearly has enormous potential to improve efficiency within the transport services and logistics sector, and benefit many other industries", said Frontier chief executive Neil Crabb.

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