The increased investment by NetScientific PLC (AIM:NSCI) in Q-Bot is further evidence of the group’s stated strategy of deeper involvement in selected portfolio companies, and shows its ability to structure and execute complex deals and drive company performance, said house broker WH Ireland.
NetScientific's 20.6% newly acquired direct stake in Q-Bot is now valued at £2.77mln, a gain of approximately £1.45mln since it first made an investment in December.
Based on the revised valuation of Q-Bot, analyst Matthew Davis said his risked-based sum-of-the-parts analysis implies fair value of 190p per share, up from 185p.
Q-Bot, develops robots for deploying home insulation in the building retrofit industry, closed a £1.62mln investment round at a significantly increased valuation of £13.7mln, compared the implied valuation of £7.1mln in December.
In the year ended 31 March 2022, Q-Bot generated sales of £2.2mln, approximately doubling commercial sales on the prior year.