Business
VividQ raises additional funds of £2.4 million
VividQ raises additional funds of £2.4 million.
About this update from Mindflair Plc
[{"type":"text","content":"\n \n \n RNS Number : 9571H\n Pires Investments PLC\n 30 March 2020\n \n \n \n \n Pires Investments plc\n \n \n (\"Pires\" or the \"Company\")\n \n \n \n \n \n VividQ raises additional funds of £2.4 million\n \n \n \n \n \n \n \n \n Pires is pleased to provide an update on its investment in Sure Valley Ventures (\"SVV\") in relation to VividQ Limited (\"VividQ\"), a company within the SVV portfolio.\n \n \n \n \n \n Following on from SVV's initial £1 million investment in VividQ, the company announced on 16 December 2019 that it had secured additional funding of £2.4 million from two new investors, FluxUnit - OSRAM Ventures (\"FluxUnit\") and University of Tokyo Edge Capital (\"UTEC\"), making a total of £3.4 million for this funding round.\n \n \n \n \n \n Fluxunit is the independent venture capital arm of OSRAM, a global photonics company. UTEC is a seed/early-stage technology-focused venture capital firm associated with academic institutions such as The University of Tokyo. \n These two new strategic investors are well connected in the German and Japanese automotive markets, respectively.\n \n \n \n \n \n VividQ (\n \n \n www.vivid-q.com\n \n \n ) is a software company with leading expertise in 3D holography. VividQ's software is able to bring real-time computer generated holography to everyday applications which is expected to drive the mass adoption of holographic displays in consumer electronics. Currently, holographic displays powered by VividQ's software are being implemented by original equipment manufacturers in the US, China, and Japan, in applications ranging from augmented reality smartglasses to automotive head-up displays. With\n this funding, VividQ should be well positioned to progress its development of the next generation automotive display market.\n \n \n \n \n \n These additional funds should enable VividQ to accelerate the adoption of its software in the next generation of consumer electronics, and to scale up the number of integration projects with chipmakers and micro-display manufacturers. The company expects the first holographic devices powered by VividQ to be released in 2020.\n \n \n \n \n \n Pires has a circa 13% interest in SVV. \n SVV is a venture capital fund focused on investing in the software technology sector with a speci...