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INTELLITHING®

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Develop Customised Applications of Generative AI With No Code.

143%
 - 
Funded 15 Dec 2023
£200,000 target
£286,175 from 184 investors
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Business overview

Location Manchester, United Kingdom
Social media
Website intellithing.tech
Sectors SaaS/PaaS Digital B2B
Company number 12378970
Incorporation date 30 Dec 2019
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Investment summary

Type Equity
Valuation (pre-money) £2.1M
Equity offered 11.77%
UK tax relief

EIS

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Business highlights

  • Two exited Founders and extensive industry expertise
  • SFC capital VC are anchoring this pre-seed round
  • Software has been developed and is market ready
  • Already onboarding clients with £0 sales/marketing.
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Key features

  • Secondary Market
  • Nominee investment min. £12.50 +
  • Direct investment min. £10,000.00 +

Idea

Introduction

INTELLITHING: No-code, drag & drop platform for stacking large language models.

Many people are now aware of the rise of Chat GPT and large language models. The global market for applied Generative AI is now forecast to grow by 35%pa.

However, building AI software to improve efficiency and service can be too expensive and slow for many businesses. As developers need to navigate many layers of complexity and limitations before the coding is released.

INTELLITHING, a no-code, drag-and-drop and modular platform for stacking optimised open-source large language models and components, just like LEGO bricks, to develop quicker, cost effective unique generative AI applications.

Our go to market is the insurance sector.

Our team possesses deep expertise in natural language processing with backgrounds spanning; leadership in the UK Government’s Data Science Department, research at Stanford University, MIT Management course in AI Marketing and the Harvard Entrepreneurship course. In addition, the team has significant commercial experience with the former Director of AI at the multinational Atos.

We have big plans and would love to have Seedrs investors join this pre-seed round led by SFC Capital.

Substantial accomplishments to date

• Post product: The product is market-ready with our first revenues starting to flow in.

• VC backing: The business has attracted VC backing from SFC capital that is currently our cornerstone investor.

• Innovate UK : INTELLITHING has been chosen by Innovate UK as a case study due to its growth and technology development.

• NVIDIA Cloud validated: INTELLITHING has passed NVIDIA’s validation and testing and received an official NVIDIA Cloud Validated badge.

• Inbound Sales Enquiries: INTELLITHING receives inbound sales enquiries with £0 sales and marketing budget.

• Patent-Pending: INTELLITHING already has a patent-pending with more patents being filled.

Monetisation strategy

INTELLITHING is a cross sector PaaS B2B platform, initially targeting the insurance sector with plans to expand to Finance soon. The current focus is on underwriting, risk management, and claims processing via custom built applications of Generative AI.

The product pricing will primarily be an enterprise offer on a subscription basis

There will initially be two levels of subscription:

1. Scale Up - £1,000pm
• Extension of your data science team
• Develop unlimited apps
• Access no code tools
• Access to computational resources
• Video call customer support

2. Enterprise - £5,000pm
• Everything in Scale Up
• Access to premium tools
• Unlimited API call
• On premises deployment
• Optimising bespoke models

Use of proceeds

The platform will be further developed by adding an additional head of technology to the team. The focus will be on revenue growth by formulating sales and marketing strategies.

Key Information

Debt

The company has an outstanding Bounce Back Loan of £20,000 at an interest rate of 2.5% per annum. The loan is to be repaid December 2027.

The funds raised from this investment round will not be used to repay these loans.

Share Classes

The Company currently has two classes of shares, A Ordinary Shares and Ordinary Shares. All investors in this round, including Seedrs investors, will receive A Ordinary Shares.

Holders of A Ordinary Shares will receive voting rights, dividend rights, and on an exit and liquidation shall receive a 1x non-participating preference which has been drafted to be compatible with SEIS relief.

Tax Relief

The company has the full £250k SEIS allocation available in this round. Investments in the campaign up to £250k are expected to be eligible for SEIS tax relief. Any funds invested over £250k are expected to qualify for EIS tax relief.

Tax treatment depends on individual circumstances and is subject to change in the future.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for INTELLITHING® has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 9 November 2023 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £2,144,250

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Republic Europe.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Republic Europe campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Republic Europe will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Republic Europe will not benefit from any rights under a shareholder agreement. As a result, Republic Europe will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

If available, this is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Republic Europe. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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