NetScientific has agreed to acquire a further 3.13% stake in Q-Bot for a total consideration of £202,540.
Q-Bot is a London-based award-winning robotics and AI company that has pioneered building insulation technology.
NetScientific's investment in Q-Bot shows ability to drive value, says broker
This acquisition will result in the direct equity holding in Q-Bot by NetScientific increasing from 20.6% to 23.7%.
Ilian Iliev, NetScientific’s s chief executive, said: "Q-Bot has been a very good investment for us.
"Based on the share price in its June 2022 £1.6mln funding round NetScientific's 23.7% Q-Bot direct stake (once increased) is valued at £3.19mln, a gain of approximately £1.67mln in less than one year."