Insig AI plc, a data science and machine learning solutions company, has raised new funding of £813,000 following a recent leadership change. Richard Bernstein, who stepped in as CEO after Colm McVeigh’s departure, announced that NR Holdings Limited contributed £750,000 to the equity subscription, while new chairman John Wilson added £62,500. The funds, raised at a 2% discount to the closing share price on June 4th, will be used for sales, marketing, and working capital purposes. This follows Insig AI’s lower-than-expected revenue report for the 2024 fiscal year and the sale of its ‘Sport in Schools’ business. Previous CEO McVeigh joined the firm in November 2021 and became CEO in April 2022, and Warren Pearson, the chief technical officer, also stepped down from the board but remains a full-time employee.
Data Science and Machine Learning, Software and Technology,United Kingdom