Dot Ai, a pioneering startup in asset intelligence technology, and ShoulderUp Technology Acquisition Corp. (NYSE: SUAC) have announced the successful closing of their previously announced business combination. This merger, approved by ShoulderUp shareholders on February 6, 2025, marks a significant milestone for Dot Ai as it becomes a publicly traded company. Dot Ai’s Class A common stock and warrants are set to begin trading on Nasdaq under the ticker symbols ‘DAIC’ and ‘DAICW,’ respectively, on June 23, 2025.
As part of this business combination, Dot Ai has secured $12 million in PIPE (Private Investment in Public Equity) financing from investors. This investment will be crucial in supporting Dot Ai’s strategic growth plans, including expanding its research and development (R&D) capabilities, enhancing its Go-To-Market strategies, and developing its manufacturing operations in Puerto Rico.
Ed Nabrotzky, Co-founder and CEO of Dot Ai, expressed his enthusiasm about the company’s future, stating, ‘Dot Ai is revolutionizing how companies manage their supply chains with our innovative, AI-fueled asset intelligence technology and proprietary software and hardware solutions.’ He emphasized the company’s focus on new product launches, its partnership with Würth Industry USA, and finalizing contracts with key players across various sectors.
Phyllis Newhouse, CEO of ShoulderUp Technology Acquisition Corp., praised Dot Ai’s innovative approach, saying, ‘In a world where supply chains are still trying to catch up with the speed of innovation, Dot Ai is not just solving problems, it’s redefining possibilities.’ She highlighted ShoulderUp’s pride in partnering with a team that is transforming industries and shaping the future.
Following the closing of the business combination, Dot Ai’s Board of Directors will include Phyllis Newhouse, Holly Grey, Joanna Burkey, Jeff Saling, Dr. Sheldon Paul, Dr. David Carlson, and Ed Nabrotzky. Additional board members are expected to be announced later.
The new board members bring a wealth of experience in technology, cybersecurity, entrepreneurship, and healthcare. Holly Grey, formerly CFO of Exabeam and Forescout Technologies, has over 25 years of experience in high-growth technology companies. Joanna Burkey, a seasoned executive in cybersecurity and technology, has held senior roles at HP Inc. and Siemens AG. Jeff Saling is a serial entrepreneur and investor with experience in launching and scaling SaaS and cloud startups. Dr. Sheldon Paul, an obstetrician-gynecologist, has entrepreneurial experience and early investments in Dot Ai. Dr. David Carlson, a board-certified family practice physician with a subspecialty in geriatrics, has held leadership roles in healthcare.
Dot Ai is at the forefront of asset intelligence, utilizing IoT tracking technology, AI engines, 5G RF, and BLE technology to provide real-time asset visibility and predictive analytics. The company’s innovative solutions aim to streamline logistics and supply chain processes while enhancing operational security.
This press release contains forward-looking statements regarding the business combination and its anticipated benefits. These statements are subject to risks and uncertainties, including the potential disruption of current operations, legal proceedings, and the failure to realize anticipated benefits. Readers are cautioned not to rely unduly on these forward-looking statements.
For more information about Dot Ai and its innovative asset intelligence technology, visit https://daic.ai.
