Deepspatial Provides Business Update

Rhea-AI Summary

Deepspatial (CSE:DSAI)(OTCQB:DSAIF) announced a business update, highlighting positive traction in their AI-driven platform among Enterprise and Government sectors. The company reported approximately $100,000 in booked revenue from January to March 2022 and has a strong sales pipeline with significant opportunities ahead. Deepspatial plans to file five new US patents and expand its technology team to meet anticipated project demands. CEO Dr. Rahul Kushwah expressed optimism for continued revenue growth driven by successful client engagements and existing pilot projects.

Positive

• Booked revenue of approximately $100,000 from January to March 2022.
• Strong sales pipeline with significant revenue potential in new sectors and government opportunities.
• Anticipation of filing five additional US patents in the next quarter.
• Expansion of the data-science and technology team to meet project deadlines.

Negative

• None.

TORONTO, ON / ACCESSWIRE / March 31, 2022 / Deepspatial (CSE:DSAI)(OTCQB:DSAIF) ("Deepspatial" or the "Company"), an outcome based artificial intelligence (AI) company, enabling organizations to enhance their decision making capabilities by leveraging the power of data and AI, today provided a business update as it works towards meeting strategic business development, technology, and innovation initiatives.

"Over the last few months, we've received positive response to our AI-driven platform from large Enterprise and Government organizations and we are pleased to report that we've received several contracts spanning across several industries," said Dr. Rahul Kushwah, CEO of Deepspatial. "We expect significant growth in booked revenue in the coming quarters as we continue to execute meaningful contracts and engage in lucrative opportunities in our sales pipeline."

Dr. Kushwah continued, "Our team is working diligently towards augmenting with our clients following successful pilot projects. Deepspatial's solutions are evidently needed in industries like retail enterprise, education, agriculture, and infrastructure as we've seen with our current customers - and we plan to be the go-to-solution for AI-driven insights and decision making for more industries and sectors around the globe."

Business Updates

• Approximately $100,000 in booked revenue from January 2022 to March 2022.
• Strong sales pipeline with significant revenue potential consisting of new Sectors and Government opportunities.
• Patent portfolio expansion with five additional US patents anticipated to be filed in the next Quarter.
• Expansion of data-science and technology team to meet forecasted project deadlines and new client orders.

About Deepspatial

Deepspatial (CSE:DSAI) (OTCQB:DSAIF) is an outcome based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI. From finding the most efficient supply chain routes to knowing where to develop next, Deepspatial's AI-driven platform enables its clients to visualize what's going on, predict what's coming, analyze data, and optimize processes to make smarter decisions for a better future. For more information, visit www.Deepspatial.ai and follow us on Twitter, Instagram or LinkedIn.

Caution regarding Forward Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.

For more information, please contact:
Investor Relations
Corey Matthews
Investors@deepspatial.ai

SOURCE: DeepSpatial Inc.

View source version on accesswire.com:
https://www.accesswire.com/695401/DeepspatialProvides-Business-Update

FAQ

What is the recent business update from Deepspatial (DSAIF)?

Deepspatial reported strong interest in its AI platform, with approximately $100,000 in booked revenue from January to March 2022, and highlighted a robust sales pipeline.

How much revenue did Deepspatial report in Q1 2022?

Deepspatial reported approximately $100,000 in booked revenue for the period from January to March 2022.

What sectors is Deepspatial targeting for growth?

Deepspatial is targeting sectors including retail, education, agriculture, and infrastructure for growth through its AI-driven solutions.

What new initiatives is Deepspatial planning to implement?

Deepspatial plans to file five new US patents and expand its technology team to handle upcoming client orders.

Who is the CEO of Deepspatial and what did he say about future growth?

CEO Dr. Rahul Kushwah mentioned that they expect significant growth in booked revenue as they continue to engage successfully with clients.