Business
Admix fundraise
Admix fundraise.
About this update from Mindflair Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3578A\n Pires Investments PLC\n 29 September 2020\n \n \n \n \n 29 September 2020\n \n \n \n \n \n Pires Investments plc \n \n \n \n \n \n (\"Pires\" or the \"Company\")\n \n \n \n \n \n Admix extends Series A round to raise further $1.5 million from leading gaming investors\n \n \n \n \n \n Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on its investment in Sure Valley Ventures (\"SVV\") in relation to Admix, a company within the SVV portfolio, which has developed a programmatic monetisation platform for gaming and other entertainment developers. \n \n \n \n \n \n Two years after its initial seed funding, London-based start up Admix has extended the Series A funding round announced in June 2020, raising a further $1.5 million from strategic gaming investors, bringing the total round to $8.5 million.\n \n \n \n \n \n Marcus Segal, previously Chief Operating Officer of Zynga Studios and Nigel Morris, previously Chief Executive Officer of Dentsu Aegis, joined the round, alongside a number of unnamed executives working in the gaming and advertising industries in which Admix operates.\n \n \n \n \n \n The proceeds of the fundraise are intended to be used to accelerate the development of the Admix's stack for game publishers - it currently caters to c. 300 - and to grow its technology team to 30 developers by the end of 2020.\n \n \n \n \n \n Admix is positioning itself as the provider of infrastructure for brands to engage with a growing number of gamers, which follows the rapid rise of casual and mobile game players as a result of the COVID-19 pandemic.\n \n \n \n \n \n Pires has a circa 13% interest in SVV. SVV is a venture capital fund focused on investing in the software technology sector with a specific focus on artificial intelligence, the internet of things and immersive technologies.\n \n \n \n \n \n Peter Redmond, Chairman of Pires commented: \n \n \n \n \n \n \"Only two years after its initial seed funding, this extension of the funding round announced earlier this summer demonstrates the excitement surrounding Admix's platform for gaming and entertainment developers at the moment. In-play advertising, a substantial and developed market, has ...