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NetScientific PLC - London-based life sciences and sustainability technology investment firm - Secures GBP1.6 million in funding. Money raised via investment round will fund its next stage of growth, company says. "The additional funds will allow Q-Bot Ltd to accelerate the rollout of its unique patented solution of using robots to apply underfloor home insulation across the UK, and meet growing overseas demand for Q-Bot's solution," NetScientific explains. Q-Bot is an AI company in which NetScientific has a 19% direct stake since December, following a GBP2.8 million deal with Q-Bot.
"Q-Bot's robotics as a service offering is at the right place and right time, providing a massively scalable solution not only to the transition to a low-carbon economy, but to the current crisis in growing households energy bills and energy security," says Ilian Iliev, NetScientific chief executive officer and board member at Q-Bot.
Current stock price: 80.25 pence, up 1.6% on Wednesday
12-month change: down 34%
By Tom Budszus; tombudszus@alliancenews.com
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