NetScientific PLC (AIM:NSCI) portfolio company Q-Bot Chairman professor Peter Childs joined Proactive to discuss the AI and robotics group's £1.62m investment round it has closed to fund the next stage of its growth.
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. Q-Bot develops robots for deploying home insulation in the building retrofit industry.
In the year ended 31 March 2022, Q-Bot generated sales of £2.2mln, approximately doubling commercial sales on the prior year.