Business
Investment portfolio update
Investment portfolio update.
About this update from Mindflair Plc
[{"type":"text","content":"\n\n \n \n 25 May 2023\nPires Investments plc\n(\"Pires\" or the \"Company\")\nInvestment portfolio update\nPires Investments plc (AIM: PIRI), the investment company focused on next generation technology including AI, is pleased to provide an update in relation to its investment portfolio. Pires invests in its portfolio companies via (i) direct investments, indirectly through (ii) its investment in three funds managed by Sure Valley Ventures and (iii) its investment in Sure Ventures plc.\n1. Sure Valley Ventures (\"SVV\")\nSure Valley Venture Fund (\"SVV1\")\nSVV1 is SVV's first fund which has completed its new investment phase and has now entered into its realisation phase. It has already achieved three realisations/liquidity events to date, with more expected in the short term. A selection of recent developments within the investment portfolio include:\nLandVault\n \nLandVault, a large metaverse builder, successfully raised an additional US$3 million after extending its Series B funding round in April 2023. This strategic funding was from Web3 focused investors including, The Sandbox, The Gemini Frontier Fund, HodICo and hedge fund Kingsway Capital. The proceeds of the fundraise are set to assist in its global expansion, further investment in innovative technologies and development in the building of a protocol, Matera, to make the metaverse experience more accessible.\n \nEveryangle\n \nEveryangle is a Dublin-based computer-vision company that helps physical retailers, hospitality venues and convenience service stations optimise operations. Everyangle raised €2.7 million in a seed fundraise in October 2022. This fundraise marks the final new investment within SVV1, and will be used to accelerate sales, invest in ongoing product development, and drive further expansion in the US and UK. The funding round was led by SVV, Act Venture Capital and Furthr VC (formerly DBIC Ventures), with participation from Enterprise Ireland.\n \nSmarttech247\n \nSmarttech247 Group plc (\"Smarttech247\") (AIM: S247) is an established global artificial intelligence-based cybersecurity business, specialising in automated managed detection and response. It has a successful track record of revenue growth and profitability and is positioned at the intersection of three major cyber security growt...