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Cykel AI is making waves in the fast-growing AI worker sector. It has shifted from a general AI assistant platform to creating AI workers tailored for specific business needs.
In November 2024, the company launched its first AI worker, Lucy, aimed at the $750 billion staffing industry.³ Recently, it introduced Samson into Beta, an AI worker designed to boost enterprise-level research.⁴ These new releases show Cykel AI’s focus on developing targeted AI solutions for different industries.
The AI worker market is growing rapidly. According to Globe Newswire, “The Digital Workplace Market was valued at approximately USD 30.3 billion in 2023. The market is projected to grow at a robust CAGR of 23.39% during the forecast period, reaching an estimated USD 200.61 billion by 2032.”¹ This growth highlights the rising dependence on AI solutions across sectors.
Cykel AI plans to take advantage of this trend by expanding its AI workforce into various areas. By creating purpose-built AI workers for different business tasks, the company aims to gain a significant market share.
Following the lead of successful AI firms like 11x.ai, Cykel AI seeks to replicate their model of industry-specific AI solutions. A full case study on 11x.ai is included below for further insight.
We have also included a timeline of Cykel AI’s progress, showcasing key RNS releases from recent months.
Cykel AI Progress Timeline
Cykel AI has made some giant strides over the past few months. Here's a closer look into some of the most significant news flow.
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Cykel AI is making waves in the fast-growing AI worker sector. It has shifted from a general AI assistant platform to creating AI workers tailored for specific business needs.
In November 2024, the company launched its first AI worker, Lucy, aimed at the $750 billion staffing industry.³ Recently, it introduced Samson into Beta, an AI worker designed to boost enterprise-level research.⁴ These new releases show Cykel AI’s focus on developing targeted AI solutions for different industries.
The AI worker market is growing rapidly. According to Globe Newswire, “The Digital Workplace Market was valued at approximately USD 30.3 billion in 2023. The market is projected to grow at a robust CAGR of 23.39% during the forecast period, reaching an estimated USD 200.61 billion by 2032.”¹ This growth highlights the rising dependence on AI solutions across sectors.
Cykel AI plans to take advantage of this trend by expanding its AI workforce into various areas. By creating purpose-built AI workers for different business tasks, the company aims to gain a significant market share.
Following the lead of successful AI firms like 11x.ai, Cykel AI seeks to replicate their model of industry-specific AI solutions. A full case study on 11x.ai is included below for further insight.
We have also included a timeline of Cykel AI’s progress, showcasing key RNS releases from recent months.
Cykel AI Progress Timeline
Cykel AI has made some giant strides over the past few months. Here's a closer look into some of the most significant news flow.
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11x.ai are a developer of AI powered sales reps approaching $10M in Annual Recurring Revenue and operating in the Automated Digital Worker space alongside Cykel.
In September this year they secured $50Million in Series B funding, following a $24Million Series A earlier this year.
This values the company at circa $350Million as of September 2024, according to sources acquired by TechCrunch.
11x.ai focus primarily on digital workers trained on sales based models, however they are looking to introduce recruitment focused workers in 2025. Something Cykel AI appear to have beaten them to the punch on.
The startup has been valued on a 35x multiple and similar 'digital worker' focused competitors have received valuations based on multiples upwards of 50x
Source: TechCrunch⁵
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Argo Blockchain Founder and Cykel Executive Chairman, Jonathan Bixby stated "AI is the largest growth market in the tech industry I have ever seen".
We only have to look at the growth of software companies such as Zapier Inc (recently valued at $5B according to Yahoo Finance.⁷) to get a gauge of the sheer scale of the market. Giants with deep pockets like Amazon, Microsoft and Google are putting their chips firmly behind companies focusing on AI development.
Google provided initial upfront funding of $300M to AI Startup, Anthropic; Amazon have now followed suit with upfront funding of $1.25B, pledging to invest up to $4B. Tech Crunch have now put a valuation on Anthropic of $5B.⁸ The technology that Anthropic develops focuses on interfacing via a chatbot similar to ChatGPT.(Recently valued at an incredible $86B.⁹)
Adept; another AI-centric startup, has already raised $350M from the likes of Microsoft and NVidia to take existing software and configure it in a way that allows humans and computers to work together creatively to solve problems. This ingenuity has resulted in Forbes reporting a valuation for Adept of “at least $1B”.¹⁰
Recent RNS announcements have come thick and fast for Cykel, with a growing number of strategic partnerships being won and most notably the release of 'Lucy', Cykel's Automated Digital Worker, tasked with cutting costs in half for recruitment agencies and in-house hiring teams.
If 2025 is the year of the Digital Worker then Cykel AI are already aptly placed to compete within an exciting and fast growing subset of the Artificial Intelligence market.
Cykel AI vs Similar Stocks
Cykel AI is looking to emulate the success of the below companies that also run successful AI-Centric operations.
(Prices correct as of 20/03/25. Data from Bloomberg suggested peer group. Not all companies achieve valuations of this magnitude.)
Argo Blockchain Founder and Cykel Executive Chairman, Jonathan Bixby stated "AI is the largest growth market in the tech industry I have ever seen".
We only have to look at the growth of software companies such as Zapier Inc (recently valued at $5B according to Yahoo Finance.⁷) to get a gauge of the sheer scale of the market. Giants with deep pockets like Amazon, Microsoft and Google are putting their chips firmly behind companies focusing on AI development.
Google provided initial upfront funding of $300M to AI Startup, Anthropic; Amazon have now followed suit with upfront funding of $1.25B, pledging to invest up to $4B. Tech Crunch have now put a valuation on Anthropic of $5B.⁸ The technology that Anthropic develops focuses on interfacing via a chatbot similar to ChatGPT.(Recently valued at an incredible $86B.⁹)
Adept; another AI-centric startup, has already raised $350M from the likes of Microsoft and NVidia to take existing software and configure it in a way that allows humans and computers to work together creatively to solve problems. This ingenuity has resulted in Forbes reporting a valuation for Adept of “at least $1B”.¹⁰
Recent RNS announcements have come thick and fast for Cykel, with a growing number of strategic partnerships being won and most notably the release of 'Lucy', Cykel's Automated Digital Worker, tasked with cutting costs in half for recruitment agencies and in-house hiring teams.
If 2025 is the year of the Digital Worker then Cykel AI are already aptly placed to compete within an exciting and fast growing subset of the Artificial Intelligence market.
Cykel AI vs Similar Stocks
Cykel AI is looking to emulate the success of the below companies that also run successful AI-Centric operations.
(Prices correct as of 20/03/25. Data from Bloomberg suggested peer group. Not all companies achieve valuations of this magnitude.)
ANALYST COMMENTS: Jonathan Plant
Independent Analyst. Ex-UBS
30+ years of experience in financial markets analysing Bonds, Equities, Derivatives,
Macro Strategy and Technical Analysis
In the ever-evolving universe of artificial intelligence, certain opportunities emerge that have the potential to transcend the ordinary and redefine the industry as a whole. Such an opportunity seems to be on the horizon as the investment world hears rumblings of a new cutting-edge AI tech outfit that recently listed as the first pure play AI Stock in the UK.
On deeper inspection, it's not just another ‘smart money’ proposition either; it's an intriguing journey into the future of where AI is heading in the near term. As an avid follower of the sector, I am thrilled to introduce you to this extraordinary prospect - a company that could very well hold the promise of rewriting the book on human-AI interaction.
ANALYST COMMENTS: Jonathan Plant
Independent Analyst. Ex-UBS
30+ years of experience in financial markets analysing Bonds, Equities, Derivatives,
Macro Strategy and Technical Analysis
In the ever-evolving universe of artificial intelligence, certain opportunities emerge that have the potential to transcend the ordinary and redefine the industry as a whole. Such an opportunity seems to be on the horizon as the investment world hears rumblings of a new cutting-edge AI tech outfit that recently listed as the first pure play AI Stock in the UK.
On deeper inspection, it's not just another ‘smart money’ proposition either; it's an intriguing journey into the future of where AI is heading in the near term. As an avid follower of the sector, I am thrilled to introduce you to this extraordinary prospect - a company that could very well hold the promise of rewriting the book on human-AI interaction.
References
{2] https://clearcapitalmarkets.co.uk/cykel-broker-note-jonathan-plant/
[6] https://www.youtube.com/watch?v=MIh--XRM50k
[7] https://finance.yahoo.com/news/zapier-ceo-rides-remote-5b-200654269.html
[9] https://www.ft.com/content/e4ab95c9-5b45-4996-a69e-46075d6428e5
* 5 Star rating was awarded by analyst J. Plant based on his analysis of the recent share price and his opinion on its's potential
Nothing in the above article should be considered investment advice.
Small Cap or Aquis listed companies can be highly illiquid making them difficult to sell at the quoted price, and in some cases, it may be difficult to sell them at any price. Small Cap or Aquis listed companies can have a large bid / offer spread which means there could be a large difference between the buying and selling price. Companies listed on the Aquis market can be highly volatile and are considered high risk speculative investments. The value of your investment can go down as well as up, your Capital is at risk you may not get back the amount invested. Please ensure that you fully understand the risks involved. If in any doubt, please seek independent financial advice. This document is published by Clear Capital Markets and does not constitute a solicitation or personal recommendation for the purchase or sale of investment. The investments referred to may not be suitable for all investors. Any data or views given should not be construed as investment advice. Every effort is made to ensure the accuracy of the information, but no assurance or warranties are given.
Clear Capital Markets Corporate Broking acts as a Corporate Broker to Cykel AI Plc and holds warrants and shares in the company. Employees and/or directors of Clear Capital Markets may deal in shares of Cykel AI Plc for their own personal accounts. These scenarios may give rise to a conflict of interest where Clear Capital Markets also provides clients with an advisory service for transactions involving Cykel AI Plc. The firm has established Conflicts of Interest (“COI”) and Personal Account Dealing (“PAD”) policies to mitigate the risk of a conflict causing damage to the interests of its clients. The measures taken include requiring internal review and approval from the compliance department for employees or directors entering into personal transactions involving Cykel AI Plc. The COI and PAD policies are available upon request. Clear Capital Markets is required to disclose this conflict.
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