Seed Innovations Limited (AIM: SEED), a Guernsey-incorporated closed-ended investment company focused on early-stage physical AI and robotics, has published its interim results for the six months ended 30 September 2026. The company completed three new investments during the period — Feather Robotics, Fieldwork Robotics, and Cosmic Robotics — marking the practical start of its revised investing strategy. Net Asset Value fell modestly to £10.43 million from £11.05 million at 31 March 2026, while a post-period fundraise of approximately £2.9 million before expenses has since strengthened the balance sheet.

Key Points

  • Seed Innovations Limited (AIM: SEED), domiciled in Guernsey and quoted on AIM
  • Three robotics investments completed during the period: Feather Robotics (US$1.0m), Fieldwork Robotics (£300,000), and Cosmic Robotics (US$350,000)
  • NAV of £10.43 million at 30 September 2026, equating to 5.55p per Ordinary Share; total comprehensive loss of £612,000 for the period
  • Investors may watch deployment of approximately £2.9 million post-period fundraise and progress across the new robotics portfolio

Feather Robotics, Fieldwork Robotics and Cosmic Robotics Form SEED's New Core Portfolio

During the six months to 30 September 2026, SEED deployed capital into three distinct areas of the robotics market. Feather Robotics, a US-based developer of modular wheeled humanoid robots, had already generated more than US$1 million in customer orders and completed a US$7.6 million pre-seed round led by Gradient Ventures, in which SEED participated with US$1.0 million. UK-based Fieldwork Robotics, targeting raspberry harvesting automation, received £300,000 as part of a broader £2.5 million Seed+ financing and has since joined Australia's Berry Industry Partnership Programme. US-based Cosmic Robotics, which deploys autonomous robots on solar construction projects, received US$350,000 via a SAFE instrument and completed Y Combinator's Summer 2026 programme during the period.

NAV Declines to 5.55p per Share as Operating Costs and Investment Outflows Weigh on Cash

SEED reported a total comprehensive loss of £612,000 for the six-month period, compared with a loss of £433,000 in the equivalent period a year earlier. Total expenses for the period were £464,000, including £162,000 in investment consultant fees and £124,000 in directors' remuneration. Net unrealised losses on financial assets at fair value through profit or loss amounted to £168,000. Cash and cash equivalents fell to £707,000 at 30 September 2026 from £2.754 million at 31 March 2026, primarily reflecting £1.553 million deployed into new investments and £488,000 in operating cash outflows. NAV per Ordinary Share decreased to 5.55p from 5.88p over the same period.

Post-Period £2.9 Million Fundraise Backed by Chair Jim Mellon and Sir James Bucknall

Subsequent to the period end, SEED raised approximately £2.9 million before expenses through a placing, subscription, and retail offer, issuing 120,870,717 new Ordinary Shares admitted to trading on AIM on 6 October 2026. Non-Executive Chair Jim Mellon and Non-Executive Director Sir James Bucknall both participated in the fundraise. The announcement states the proceeds are intended to fund further robotics and physical AI investments identified through Hoid.ai, SEED's investment consultant, and to provide flexibility to support existing portfolio companies where additional value creation is considered achievable.

Legacy Portfolio Includes Clean Food Group CLEANOil™ Launch and Juvenescence Clinical Advances

Alongside its new robotics holdings, SEED continues to manage legacy investments across biotech and fintech. UK-based Clean Food Group, which received a further £260,000 from SEED via a convertible loan note during the period, made the commercial debut of its CLEANOil™ ingredient platform for the beauty industry in conjunction with THG LABS. Juvenescence, valued at £2.387 million in the portfolio, advanced its PAI-1 inhibitor MDI-2517 towards a planned Phase 2 trial and progressed a Phase 1b study for Parkinson's treatment SER-252. The ten-company portfolio had a combined investment value of £9.779 million at 30 September 2026, representing 93.7% of NAV.