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Kreston Reeves has announced that it has advised Cykel AI on its Aquis Stock Exchange listing, raising £1.75m.
Cykel AI is building a Natural Language Processing (NPL) technology that takes both spoken and typed requests from humans and performs tangible digital actions.
The team was led by corporate finance associate director Craig Dallender, corporate finance assistant manager Lloyd Halliwell, partner Anne Dwyer and audit manager Claire Faruque.
In the last year, Kreston Reeves acted as reporting accountants to Majestic Corporation on its admission to the Aquis Stock Exchange alongside deals with a combined value exceeding £122m.
Jonathan Bixby, co-founder and executive chairman at Cykel AI, said: “Cykel AI will use the power of AI technologies to transform business processes by making mundane digital tasks such as filling digital forms, managing work tools like spreadsheets or booking meetings and holidays infinitely quicker and easier. Where AI is the ‘brain’, Cykel AI will be the ‘hands’ that will make performing tasks in the digital world quicker and easier.
“The demand for our IPO exceeded our expectations, raising some £1,000,000 more than our target. We are grateful to the Kreston Reeves team for their professional and engaged support through what is a major milestone for us personally and Cykel AI.”
Dallender added: “We are delighted to have supported Cykel AI in its admission to the AQSE market as reporting accountants – it is an important step in its growth journey. The corporate finance team at Kreston Reeves continues to go from strength to strength helping businesses grow through listings, fundraising, and mergers and acquisitions.”
