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Pinewood Technologies ( (GB:PINE) ) has shared an update.
Pinewood Technologies has successfully completed an oversubscribed equity fundraise, amassing £35.7 million to facilitate the acquisition of Seez, an AI and ML-powered automotive SaaS platform. This strategic move is expected to bolster Pinewood’s capabilities in AI-driven customer service, vehicle management, and marketing tools, while also allowing further investment in its development pipeline. The fundraising, supported by both new and existing investors including strategic partner Impel AI, positions Pinewood strongly within the automotive technology sector and enhances its operational capabilities, signaling potential growth and value creation for stakeholders.
More about Pinewood Technologies
Pinewood Technologies Group PLC operates in the technology industry, focusing on AI and ML-powered solutions for the automotive sector. Their primary products include omni-channel SaaS platforms that enhance customer interaction through AI chatbots, vehicle appraisal and inventory management, and AI-powered digital marketing tools. The company’s market focus includes leveraging generative AI for automotive retailing solutions.
YTD Price Performance: -5.71%
Average Trading Volume: 385,777
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: £286.8M
Learn more about PINE stock on TipRanks’ Stock Analysis page.
