Qylur Intelligent Systems files for IPO on TSX Venture

Qylur Intelligent Systems Inc. has filed a preliminary prospectus in connection with a proposed initial public offering (IPO).

Macquarie Capital Markets Canada Ltd. acts as agent for the offering. Stikeman Elliott LLP and Blake, Cassels & Graydon LLP are acting as legal counsels to Qylur Intelligent Systems and the agent respectively.

Qylur Intelligent Systems has applied to list its shares on the TSX Venture Exchange.

Qylur Intelligent Systems Inc. was incorporated on March 8, 2018 under BCBCA to acquire and hold all of the capital stock of Palo Alto, California based Qylur Intelligent Systems, Inc. (Qulur US)

Founded in August 2005, Qylur US is an intelligent machines company. The company provides a suite of integrated software and hardware systems designed to streamline fragmented processes and empower autonomous machines with collective artificial intelligence (AI) capabilities through the use of its Industrial Internet-of-Things (IIoT) platform. Qylur operates in two global technology industries: AI-powered IIoT as well as Guest Entry Operations and Security.

Dr. Alysia M. Sagi-Dolev (Lisa Dolev), Chair & CEO, is the principal shareholder of Qylur.

Qylur’s total assets at December 31, 2017 were US $3.2 million compared to US $3.2 million at December 31, 2016. Total assets were US $4.3 million at January 1, 2016.

For the year ended December 31, 2017, Qylur US incurred a net loss of US $5.2 million and financed its operations and met its capital requirements primarily through the issuance of US $425,000 and US $2.7 million of convertible notes in 2016 and 2017.

Qylur has raised US $29.45 million in Series B, C rounds of equity funding.

photo credit: Qylur

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.