REG - Gfinity PLC - Corporate update

GfinityAnnouncement

02/05/2025 07:00

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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 (http://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       Roland Cornish    +44 (0)207 628 3396

 Nominated Adviser and Broker   Michael Cornish   www.beaumontcornish.co.uk (http://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

 

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