AI mining disruptors IntelliSense.io strike gold in new funding round

16 September 2020 | Client news

AI mining disruptors IntelliSense.io strike gold in new funding round

Harper James Solicitors has helped industrial artificial intelligence company IntelliSense.io to secure investment which will help it expand globally. Our team – who are experts in supporting businesses to grow from start-up to scale-up – worked with IntelliSense.io on a strategic investment round led by the German-based BASF Venture Capital (BVC) group. 

The funds secured will now be used to increase the firm’s applications portfolio and support distribution capacity across the world. The round included follow-on participation from a group of UK-based technology angel investors including Dr Steve Garnett and Stephen Kelly. 

It means IntelliSense.io will move into the final quarter of the year and 2021 with ambitious plans in mind. IntelliSense.io has found global success by becoming a leading provider of AI-based solutions for the mining industry. Its customers include mining majors and diversified mining groups.

Harper James Solicitors’ corporate associate Callum Giliker, who assisted on the round, said: ‘We were very pleased to be able to assist our client, IntelliSense.io, in negotiating and drafting the key documents relating to an equity investment by BASF Venture Capital GmbH. The two entities have had a pre-existing relationship, and commercially the investment was seen to be a good fit. Our task was to ensure that the investment documentation translated this relationship into a legal investment that worked for both parties and allowed each of the entities to achieve their objectives. Drafting appropriate investment documentation which captures the needs, desires and objectives of the parties – not just at completion, but to strengthen their relationship going forwards – was essential. In addition, with a number of existing investors, it was necessary to ensure strong lines of communication between all interested parties. 

‘Founder and CEO of IntelliSense.io, Sam G Bose, has a clear vision and appetite for taking the company from strength to strength in the future, and was instrumental in ensuring that the investment terms fit in with that vision for the future. We wish them massive success moving forward.’

Commenting on the service we provided, Sam from IntelliSense.io added: ‘The support, advice and guidance from Harper James was absolutely vital. Shubhu, Callum and the team there were always on hand to deal with any issues that we needed help with as the deal progressed. This is an exciting new stage in the development of the business. In the BASF group we are humbled to have found such a partner. We are delighted to have BVC’s support in building a category-leading industrial AI company and the capital raised will be deployed to increase our applications portfolio and support distribution capacity globally.’

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