CHARLOTTE — Analytics software company Automation Intellect Inc. intends to raise $1.5 million in a private offering, according to a filing Friday with the Securities and Exchange Commission.
Automation Intellect has already raised $510,000 and is seeking to raise an additional $990,000. Two investors have already invested in the offering. The minimum investment accepted from outside investor is $25,000.
The offering was not intended to last for more than one year.
The Charlotte-based company did not disclose what it intended to do with the proceeds.
Incorporated in 2018, Automation Intellect is a analytics software company that aims to implement industrial automation solutions by changing manufacturing’s approach to managing machine performance.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
This story in from the North Carolina News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism