Bitcoin price today: surges to $122k, near record high on US regulatory cheer
FORT PIERCE, FLORIDA - Twin Vee PowerCats Co. (NASDAQ:VEEE), a marine manufacturer with a market capitalization of $5.15 million and currently trading near its 52-week low, announced Wednesday it has entered into a strategic collaboration with Fetch.AI to integrate autonomous AI agents across its BoatsForSale.com marine marketplace. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 4.04, though it faces profitability challenges with negative earnings in the last twelve months.
Under a newly signed Memorandum of Understanding, Fetch.AI will deploy AI-powered "Basic Agents" across all active boat listings on the platform. These agents will respond to buyer inquiries in real time with information about boat specifications and features. A premium tier offering negotiation capabilities and lead-nurturing tools will also be available to sellers and dealers. Want deeper insights? InvestingPro subscribers get access to 14 additional ProTips and comprehensive financial analysis for VEEE, including detailed valuation metrics and growth indicators.
"By integrating Fetch.AI’s intelligent agents, we’re giving every listing its own digital salesperson: always on, always responsive," said Joseph Visconti, CEO and President of Twin Vee PowerCats Co., in the press release.
The companies will also develop "Buyer Agents" designed to guide prospective purchasers through personalized recommendations based on user behavior and preferences.
Humayun Sheikh, CEO of Fetch.AI, stated that the partnership "allows us to showcase how AI agents can transform an entire marketplace, making it more efficient, personalized, and scalable."
Fetch.AI’s technology is built on decentralized infrastructure and machine learning, enabling real-time engagement across various industries. The company has previously deployed agent-based systems in mobility, hospitality, and supply chain sectors.
The integration is expected to go live in the third quarter of 2025, with Premium Agent services launching shortly afterward, according to the company statement.
Twin Vee PowerCats manufactures catamaran sport boats and has been building and selling boats for 30 years.
In other recent news, Twin Vee PowerCats Co. has announced a public offering of 750,000 shares of its common stock at $4.00 per share, aiming to raise $3 million in gross proceeds. The company plans to use the net proceeds for working capital and general corporate purposes, with ThinkEquity serving as the sole book-running manager. Additionally, Twin Vee PowerCats recently completed the acquisition of Bahama Boat Works, integrating the brand’s high-quality offshore fishing vessels with Twin Vee’s innovative design and technology. This acquisition aims to enhance the Bahama brand while maintaining its commitment to craftsmanship and performance. In a separate development, Twin Vee launched Wizz Banger, an AI-driven marine commerce platform to modernize the boat-buying experience. The platform, BoatsForSale.com, will leverage AI to streamline the listing process and improve customer interactions. Twin Vee has also unveiled new models from Bahama Boat Works, including 22’, 24’, and 28’ center console boats, expanding their lineup. These developments reflect Twin Vee’s strategic efforts to innovate and expand its market presence in the boating industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.