Software makes the world go around. Railtown AI Technologies Inc. (CSE:RAIL) is seeking to streamline the development (and maintenance) of software.
The company’s Velocity Insights app is designed to enhance software development and software troubleshooting by allowing software engineers to:
…monitor, diagnose, and prioritize errors efficiently with the help of Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP), to reduce time spent on finding and fixing errors without compromising quality.
That’s a mouthful. However, as software (and software development) gets ever more complex, software engineers are in need of increasingly potent and sophisticated tools to facilitate their coding.
For tech investors who are plugged into this facet of computer software development, Railtown AI’s November 17, 2022, announcement that it will be launching its Velocity Insights app on Microsoft Azure Marketplace is big news.
For investors who are less savvy about software development, further explanation is necessary. First, the problem.
Railtown AI is already seeing increasing traction in the marketplace with this cloud-based SAAS platform. Since just the start of August 2022, over 200 new SMBs (small-to-mid-sized businesses) have signed up with Velocity Insights.
Marwan Haddad, Railtown’s CTO, addressed this increasing demand.
“Software engineers are very particular about the tools and services that they use in their everyday lives to build applications, and we are excited to see the continued and growing uptake of our technology throughout the engineering community.”
The launch of Velocity Insights on Microsoft Azure Marketplace can only accelerate this uptake. What is Microsoft Azure Marketplace?
This is a Microsoft online store specifically geared to applications and services connected to Microsoft’s Azure public cloud. Microsoft defines Marketplace as “the premier destination for all your software needs.”
Railtown AI’s Velocity Insights platform to streamline software development/maintenance is a natural fit for this online store. It’s also a large, new marketing channel to access a gigantic market opportunity.
Stripe.com, a growing online payments platform, estimates that developer time spent on bad code costs the global economy $85 billion per year. Stripe also estimated that development teams are currently spending up to 40% of their time “stuck in ongoing iterative loops, to detect, fix and optimize code.”
These massive losses are occurring in a global IT marketplace now worth $4 trillion.
Businesses across the global economy are suffering endemic losses in both time and money from repetitive issues in coding. Railtown AI and its Velocity Insights SAAS can make a big difference.
This 100% efficiency gain translates into cutting in half these huge losses in time and money that currently plague software engineers. With Microsoft Azure Marketplace adding a new niche of consumers for Velocity Insights, savvy investors will be expecting Railway’s uptake rate among SMBs to continue to improve.
Supporting the further expansion of the Velocity Insights platform, the company also announced on November 17th the closing of a convertible debenture.
Railway AI has raised an additional C$565,000 through the sale of convertible debentures priced at C$1,000. Terms are as follows.
Each debenture matures in 36 months, bearing a simple interest rate of 10%. Debentures can be converted into common shares at a share price of CAD$0.15. Each debenture also vests the holder with 3,335 common share purchase warrants, exercisable over the 36-month period at a unit price of C$0.30.
The recent market selloff has been driven primarily by companies who are seeing their operations and operating profits severely impacted by increasing interest rates, higher commodity prices, and other negative trends.
Caught in this downdraft have been a lot of rising companies – like Railtown AI Technologies – who have little sensitivity to interest rates and continue to prosper in the current environment.
For investors looking for tech bargains that offer popular SAAS platforms for revenue generation, Railway AI Technologies provides investors with a unique play on software development.
DISCLOSURE: This is a paid article by The Market Herald.