11:06 AM EST, 03/03/2025 (MT Newswires) -- MedBright AI Investments ( MBAIF ) was last seen up 23% as the company on Monday said it invested $900,000 in Algo8 Industrial AI.

The investment was made at an $8 million pre-money valuation, representing 11.25% of the issued and outstanding Algo8 shares, MedBright said.

MedBright said it funded the investment with existing cash on hand as well as the sale of marketable securities.

Algo8 is focused on AI-driven automation, sustainability, and operational intelligence. The company has presence in India, UAE, UK, Netherlands, US and Canada.

"Our commitment to the AI landscape will be led by our investment into Algo8, a company that is not merely innovating, but also demonstrating a clear capacity for practical application and organizational adaptation, ensuring that technological progress translates into meaningful business transformation," said Brandon Kou, a director of MedBright AI.

The company's shares were last seen up $0.015 to $$0.08 on the Canadian Securities Exchange.

Price: 0.08, Change: +0.02, Percent Change: +23.08