Amplyfi has secured equity backing from the Cardiff Capital Region and the Development Bank of Wales
One of Wales’ leading tech firms Amplyfi, whose expansion plans were backed with equity investment of £7m from the Cardiff Capital Region and the Development Bank of Wales, has collapsed into liquidation.
The Cardiff-based firm had developed an AI powered market intelligence platform used by global clients to better identify and react to market changes. However, with advances in AI platforms, such as ChatGPT, the business had come under increasing market pressures.
Bethan Evans and John Cullen of the Cardiff-based office of insolvency practice Menzies have been appointed joint liquidators.