Tribe Technology successfully completes IPO onto AIM at a valuation of £22.2m

Tribe Technology (AIM:TRYB), has completed a successful IPO, raising £4.6m of new money, valuing the company at £22.2m on admission.

CEO Charlie King spoke to focusIR and explained how the IPO and new funds will help monetise the company's ‘very, very strong’ order book following four years of R&D.

Charlie explains the huge transition into autonomy across the mining industry as it strives to keep people out of harm's way while improving processes and production rates through automation.

Investors will learn how Tribe Tech is perfectly placed at the intersection of mining, manufacturing, automation, AI and technology with proprietary IP underpinning their competitive advantage.

Tribe Tech already has major clients signed up for its new autonomous drilling rig, including household names such as Anglo American, and Major Drilling, the world’s largest drilling contractor by market capitalisation.

Since IPO, the shares have advanced from 10p to 10.25p.

About Tribe Technology Plc

Tribe Technology specialise in manufacturing autonomous drilling and sampling equipment for the mining industry, focused on the multi-billion dollar Tier 1 miners and contractors. The Company has manufacturing operations in Northern Ireland with R&D taking place in Western Australia.