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Short Summary
Nexbotix is a cutting-edge AI-driven process automation company that optimises business processes to make them more efficient and cost-effective.
Highlights
- c.£875k revenues FY 2023-24 (Actual) | Current recurring revenues of £675k
- Proprietary technology: AI platform (NIAH), AI bots and Monitoring Suite
- Customers include Canada Life, Softcat, Arnold Clark & many more
- £5m+ sales pipeline | Partnerships with IT giants Fulcrum, Adaptiv & more
- Average customer ROI of £80k/year on initial deployment
Overview
| Target | 400,000,000 |
| Minimum | 9,000,000 |
| Investment Raised | 100,000,000 |
| Previous Rounds | 0 |
| Stage | Breaking Even |
| Investor Role | Any |
The Business
Nexbotix’s novel approach to process automation is transforming the future of work to unleash human performance. Their software bots extract, process and move data from any source to any destination so employees don’t have to. By combining automation technology with their unique platform Nexbotix provides an agile, affordable and easy way for SMEs to implement automation solutions. The management team brings a wealth of experience in automation and AI, crucial for successfully deploying and managing their solutions. The company has invested £1.2m in research and product development over the past four years, resulting in a highly refined and effective product offering. Their proprietary customer-centric platform, NIAH, is based on Nokia’s open-source software and uses all aspects of AI from OCR and machine learning to NLP and generative AI to address the excessive costs and backlog of errors which plague businesses. INVESTOR DECK AVAILABLE ON REQUEST
The Market
According to Gartner, the global AI driven process automation market is expected to grow to over £82bn by 2032, at a CAGR of 37.9%, making it a competitive landscape. Yet generic solutions in the market target large multinational corporations with complex pricing models, simplistic processes and poor support services. Nexbotix differentiates itself by targeting mid-sized companies (200-5,000 employees) in sectors such as automotive, legal, housing, insurance, and manufacturing, allowing them to tailor their offerings to the unique needs and opportunities within these industries.
Progress/Proof
The company's case studies and customer feedback demonstrate significant cost savings and efficiency improvements for clients. For instance, major law firm Leigh Day, saved £1 million in costs by using their automated document processing solution, avoiding hiring 27 additional staff. Nexbotix is looking to build on the £2.5m contracts that have delivered £874k (actual) in revenues for FY23-24 (£401k in recurring revenues and £472k in consultation fees). By partnering with IT resellers such as Softcat, also a customer, the management team will grow their current ARR of £675k by delivering on their pipeline of over 100 prospects and scale opportunities with happy existing clients such as Arnold Clark.
Objectives/Future
Plans to scale sales aims to deliver 400 customers capable of generating a £50m Annual Recurring Revenue stream. Three new contracts, worth £450k (yet to be reflected in the financials) have recently been signed with an IT solutions provider, HR platform, and travel company. Only a small part of the funds raised in this round will be used for sales and marketing though as their success in converting from product demonstration to signed client is remarkable. Funds deployed will, by and large, go towards product development and customer delivery and support.
The Team
Further information on the team available upon request.
Chris Porter
Co-founder & CEO
Chris is a visionary business leader with 30 years of experience in Software & Services. Career achievements include a £600M deal, launching three software products, managing P&L from £200k to £500m, and transforming multiple teams.
Gemma Foxall
Director of Operations
Gemma is an experienced leader with advanced qualifications who recently led a project team to a 61% revenue increase, excelling in team management, billing optimization, customer support enhancement, and process streamlining.
Charlotte Roberts
Director of Customer Delivery
With over 9 years' consulting and delivery experience, Charlotte has successfully led multi-million-pound global projects, achieving significant cost reductions and wide-scale implementations.
Nick Proud
Director of Software Engineering
Nick oversees the Product Roadmap and NexBotix Development Team, bringing over a decade of RPA/AI and software development experience having led major projects for National newspapers, the NHS, and Fortune 500 companies.
The Deal
Looking for PKR 475,000,000 - Min per Investor PKR 9,100,000 Nexbotix is raising £1.3m (EIS) with £300k in commitments from existing and new investors. Minimum investment £25k. INVESTOR DECK AVAILABLE ON REQUEST