Corporate update

Gfinity

02/05/2025 07:00

RNS Number : 1493H

Gfinity PLC

02 May 2025

 

 

For immediate release

2 May 2025

Gfinity PLC

("Gfinity" or the "Company")

Corporate update

 

The Board of Gfinity is pleased to provide an update on the Company's progress in the deployment of its exclusive licence agreement with 0M Technology Solutions Ltd ("0M") ("Licence") to commercialise 0M's advanced artificial intelligence technology, Connected IQ ("CIQ"), which is specifically targeted at the connected video market, and the formation of a new venture, Yentra.AI, which will provide engineering, consulting and training services to companies looking to utilise AI.

 

CIQ update

Gfinity is now commercialising CIQ under the Licence. Whilst prior to the Licence CIQ was still at an early stage with limited sales track record, first revenue was received in April from campaigns and Gfinity is now in commercial discussions with multiple large advertising agencies to use CIQ's services for both brand campaigns and also to potentially provide white labelled technology services to these agencies for use within their own proprietary technology. To support this initiative, the Company has expanded its commercial sales team in the UK and USA, with further hires expected.

 

Gfinity has focused on the continued development of the contextual product for CIQ and has implemented through the Licence, what the Board believes is a market leading logo detection model, with a human emotion detection also currently being deployed. The Board believes that CIQ is a very competitive product in the marketplace, as it can achieve a level of accuracy and commercial utility at a low operational cost compared to competitors.

 

Yentra.AI

Gfinity has formed a new business unit, Yentra.AI ("Yentra"), to bring together the Company's software engineering, artificial intelligence consulting and web 3 development for commercial customers. Yentra is 51% owned by Gfinity and the balance by the management team, led by Ignatius Rautenbach. The Yentra business is supported by a team of 12 engineers in partnership with Techohara Solutions Private Limited and Koneqt Limited and has been formed to provide consulting and engineering services in artificial intelligence, machine learning, web3 and software engineering. The management team has a proven track record of delivering these solutions to banks, payment gateways, governments, utilities, and insurance companies and corporate clients bring existing relationships to Yentra.

 

Yentra also provides Gfinity with a low cost internal resource to develop further ventures in the vertical AI space to take advantage of developments in AI. The Board sees a potentially significant opportunity in artificial intelligence and the commercial application of it within the next two years and is determined to ensure that Gfinity plays a key role in the industry.

 

The CEO of Gfinity, David Halley said "we are at the start of a major global AI cycle, and through CIQ, we believe that Gfinity is positioning itself to be a clear part of the AI cycle in advertising. In addition, by partnering with the experienced team at Yentra, we now have an internal resource to build out technology for the sector and benefit from both the revenue generated from Yentra and the ability to build further technology for Connected IQ and Gfinity."

 

Other Information

A copy of this announcement is available at the Company's website: www.gfinityplc.com

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was David Halley, Chief Executive.

 

 

Enquiries:

Gfinity Plc
David Halley
+44 (0)7516 948427
Beaumont Cornish Limited
Nominated Adviser and Broker
Roland Cornish
Michael Cornish
+44 (0)207 628 3396
www.beaumontcornish.co.uk

 

Further Information

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

Forward Looking Statements

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward looking statements.

 

 

ENDS

               

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 
  END

 

 
UPDMZGGKRMMGKZM