After years of financing projects from its own resources and repeatedly adapting its business, Jamaican technology entrepreneur Gregory Moore is looking to an international acquisition to help fund NovaCore Labs’ next phase.
NovaCore Labs’ deal with US-based AIBotics is intended to give the Jamaican technology business access to US$1 million in expansion capital while allowing its founders to retain PlayJamaica’s established virtual reality and simulation operations.
Speaking on the seventh-anniversary episode of Money Media’s Taking Stock, co-founder Gregory Moore said the agreement would support work in robotics, drones and mapping. These are areas where the cost of equipment, development and project delivery had made growth difficult to finance independently.
“We actually have access to funding to build some of the business,” Moore said.
What was sold and what stays with PlayJamaica
The transaction covers NovaCore’s operating assets, rather than the purchase of PlayJamaica itself. Moore said retaining the company’s original creative technology services protected an existing income stream while giving newer activities a separate vehicle for investment.
AIBotics’ US Securities and Exchange Commission filing records completion on October 14, 2026. The initial consideration was US$225,000 in Series B preferred shares, with up to US$3 million in additional preferred shares linked to revenue milestones over four years. Those future payments depend on performance.
The filing also provides for a budget to deploy US$1 million into the Jamaican subsidiary over 12 months, with AIBotics intending to fund it through a capital raise.
A business built through repeated pivots
Moore’s route into emerging technology began with a love of video games. In 2006, he opened Straight Games in Kingston, using a model that allowed customers to trade in pre-owned games and consoles.
As games moved from physical discs to digital distribution and online shopping changed buying habits, that model weakened. Moore and his brother had already begun experimenting with driving simulators and online gaming, laying the groundwork for PlayJamaica’s expansion beyond retail.
Virtual reality became the next major focus. The business opened the VRX entertainment centre in Portmore, but the COVID-19 shutdowns forced another change. Moore said virtual events and simulator projects helped sustain operations during that period.
Later, work on virtual tours, cultural projects and Google Street View mapping helped broaden the business again. The NovaCore Labs brand, launched in 2024, was intended to reflect capabilities extending beyond virtual reality.
Why outside funding mattered
Moore said discussions with the investment team stretched back to around 2022. The eventual agreement followed years of conversations.
Even winning substantial contracts did not remove the financing problem. He described projects worth J$30 million and J$40 million that still required the business to find significant upfront funding. Research, prototypes, drones, robots and specialist equipment added further demands on cash.
The acquisition, he said, offered a way to preserve the operations already built while financing new activities and pursuing opportunities elsewhere in the Caribbean.
Hospitality robots and the skills to support them
NovaCore’s initial robotics focus is hospitality, with automation aimed at repetitive tasks and supporting staff. Moore also sees opportunities for Jamaicans who can maintain, programme and deploy the equipment.
He said four technicians were learning to work with the company’s robots through a training programme involving HEART. For entrepreneurs with less capital, he pointed to accessible software, AI tools and robotics kits as ways to develop prototypes and demonstrate their capabilities.
His advice was to persist long enough to build something credible: a working product and a visible track record can help attract customers and investors.
Based on Gregory Moore’s interview on Taking Stock, Episode 340, aired October 27, 2026. Watch the main discussion.
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