Business
SVV Software Fund invests in Jaid
SVV Software Fund invests in Jaid.
About this update from Mindflair Plc
[{"type":"text","content":"\n \n \n 14 December 2022\n \n \n \n Pires Investments plc\n \n \n \n (\"Pires\" or the \"Company\")\n \n \n \n \n \n \n Second Investment of the Sure Valley Ventures UK Software Technology Fund\n \n \n \n \n \n \n \n \n \n Sure Valley Ventures leads £3 Million Seed Round in AI as a Service Start-Up Jaid\n \n \n \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 the Sure Valley Ventures UK Software Technology Fund (the \"SVV Software Fund\").\n \n \n \n \n \n Sure Valley Ventures (\"SVV\") has led a £3m seed round in Opsmatix Systems Limited trading as Jaid (\"Jaid\"), an innovative technology firm providing AI-powered human communication solutions, marking the fund's second investment. The proceeds of the funding will be used\n to expand its industry-leading machine learning team, build out business development efforts across America and Europe and expand into Asia.\n \n \n \n \n \n Jaid is a rapidly growing company that provides AI as a Service (AIaaS) solutions to businesses to automate a variety of use cases, including client service automation, sales automation, payment exception processing, and claims administration processing. Jaid's technology helps businesses reduce costs, improve efficiency, and make data-driven decisions.\n \n \n \n \n \n Jaid's focus to date has been on the financial services industry, with a strong roster of clients including ClearBank, Syndio, Calastone, and Legal & General. The proceeds of the funding will allow the exploration of new verticals, such as healthcare, which has an estimated total addressable market of £15 billion.1\n \n \n \n \n \n The SVV Software Fund is a newly-established venture capital fund, investing in a range of private UK software companies with a focus on companies in the Metaverse, Artificial Intelligence and Cybersecurity sectors. The fund is run by the same SVV team which has been highly successful in achieving a number of cash realisations from, and upward revaluations of, companies in the SVV portfolio.\n \n \n \n \n \n The SVV Software Fund, which includes a cornerstone £50 million investment from the British Business Bank through its Enterprise Capital Funds programme, was launched in March...