Arcure, a company that uses artificial intelligence to develop custom image processing systems for machinery, officially listed on the Euronext Growth segment.
The company was founded in 2009 and creates imaging systems that utilize AI algorithms in combination with 3D vision sensors to boost the safety and autonomy of industrial machines.
Arcure's first big project was in 2011 with France's Alternative Energies and Atomic Energy Commission (CEA), where it developed a pedestrian detection system called Blaxtair(R), which detects people who pass or work in close proximity to industrial vehicles.
The company has since grown its portfolio of products to include a 3D vision sensor named Omega, which uses Blaxtair(R) software and was designed specifically for manufacturers who have connected smart factories that are equipped with robots.
Arcure was listed today with ticker code (ALCUR) by the acceptance of 4,984,142 of its shares for trading on the Euronext Growth segment, which represents its entire share capital and includes 1,125,000 newly issued shares through its Global Offering.
The offer price was pegged at EUR7 per share reflecting a market capitalization value of approximately EUR34.9 million as the listing raised EUR7.9 million.
The Chair of Arcure's Supervisory Board, Patrick Mansuy, commented that:
We are proud to be joining Euronext Growth today. Listing is a milestone in Arcure's growth and will give us the resources we need to grow, in particular on international markets. We would like to extend our warm thanks to the institutional and individual investors who have demonstrated their confidence in our future by taking part, and also to our existing investors who have renewed their support.