By Le Figaro with AFP
Published
5 hours ago,
updated at 9:08 a.m.
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The company markets generative AI solutions, a technology that makes it possible to produce all kinds of content upon simple query in everyday language.
The French start-up LightOn, specializing in generative artificial intelligence (AI), announced on Friday the launch of its IPO on the Paris Stock Exchange, which aims to raise more than 10 million euros. The company, which markets generative AI solutions, a technology that makes it possible to produce all kinds of content on a simple request in everyday language, has already secured 3 million euros through a commitment to subscribe to the fund investment company Axon Partners, according to a press release.
Through the issue of 1 million new shares offered at a price of 10.35 euros each, LightOn intends to raise a total of at least 10.4 million euros, and up to 13.5 million euros in the event of high demand. The operation, open until November 21, values the group at more than 60 million euros and “represents an opportunity for growth and notoriety”explained Laurent Daudet, co-founder of LightOn.
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8 million turnover in 2023
The young company, which wants to become the first company entirely dedicated to generative AI listed in Europe, intends to use this funding to “increase its sales forces, its technological development and internationalize” in Europe and the Middle East in particular, he said. LightOn, which has around forty employees and generated a turnover of 8 million euros in 2023, has as clients public players such as the Île-de-France region but also private players such as the aeronautical equipment manufacturer Safran.
The company notably develops chatbots similar to ChatGPT, a showcase for general public generative AI designed by the American giant OpenAI, and search engines applied to companies' internal databases. The first listing of LightOn, founded in 2016, is scheduled for November 26, in a context of a slight recovery in IPOs after two slow years due to rising interest rates.
France
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