TIDMPIRI
Pires Investments PLC
26 October 2021
26 October 2021
Pires Investments plc
("Pires" or the "Company")
Admix raises US$25 million in Series B round
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on Admix, the leading In-Play monetisation company that
bridges the gap between gaming content and brands, which Pires is
invested in through its investment in Sure Valley Ventures
("SVV").
Admix has announced that it has successfully raised US$25
million in a Series B round to scale up its In-Play solution
worldwide and establish it as the content monetisation layer for
gaming worlds and the formative metaverse.
This new funding has been raised at a valuation that represents
around 1,500% of the company's valuation at which SVV initially
invested in the business in 2018. This clearly reflects the
significant progress that Admix has made to date.
The Series B round is the largest secured by any non-intrusive
games monetisation company and brings Admix's total funding to date
to US$37 million. SVV participated in the Series B round alongside
renowned VCs Elefund, Force Over Mass, DIP Capital, Notion Capital,
Speedinvest, Rocket Capital, Colopl Next and Sidedoor Ventures, as
well as growth investor Kuvi Capital and angels from the gaming
industry.
Founded in 2018, Admix provides a solution that bridges the gap
between brands, creators and advertisers using non-intrusive
product placements integrated inside video games. Over 300 global
games and thousands of advertisers currently use Admix's end-to-end
platform. The company has recently made key hires in the Americas
and APAC where its presence will now be expanded further.
The first phase of Admix's development has proven its commercial
model, which is on track to deliver very significant year-on-year
revenue growth. This new capital is set to fund Admix's evolution
as a set of monetisation tools for the new creator economy, and its
second critical phase of product development that will set
standards in the formative metaverse. In building the technology
and tools to empower creators to make money from their content,
Admix will iterate on its state-of-the-art proprietary rendering
technology which can digitally inject complex 2D or 3D constructs
into any 3D environment, with zero impact on virtual world engine
performance.
Pires has a combined direct and indirect interest of circa 20%
in SVV, a venture capital fund focused on investing in the software
technology sector with a specific focus on Artificial Intelligence,
the Internet of Things, Cyber Security, Machine Learning, Immersive
Technologies and Big Data.
Nicholas Lee, Director of Pires commented:
"We are delighted to note Admix's successful Series B funding
round, raising US $25 million, with an impressive roster of
investors participating in the round. The valuation ascribed to
Admix represents a 1,500% uplift on the valuation at which SVV
initially invested and further demonstrates the quality of the SVV
portfolio.
"The business has made excellent progress to-date and has proven
its commercial model, with over 300 games now using its platform.
This funding should further accelerate its growth as Admix looks to
expand geographically and develop its state-of-the-art technology.
We look forward to updating the market on Admix's progress in due
course."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Joint Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
Joint Broker Tel: +44 (0) 20 3167 7221
Tennyson Securities
Peter Krens
Financial media and PR Tel: +44 (0) 20 3004 9512
Yellow Jersey
Sarah Hollins
Henry Wilkinson
Annabelle Wills
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence, Internet
of Things, Cyber Security, Machine Learning, Immersive Technologies
and Big Data, which the Board believes demonstrate evidence of
traction and the potential for exponential growth, due to
increasing global demand for development in these sectors.
For further information, visit: https://piresinvestments.com/
.
About Admix
Admix is the pioneer of In-Play, the infrastructure to monetise
gaming and the metaverse. Its technology allows developers to add
non-intrusive product placements within their games, creating a
better experience for players, developers, and advertisers. Founded
in 2018 by Samuel Huber and Joe Bachle-Morris, Admix already works
with over 300 gaming and virtual-world experiences.
Further information on Admix can be found at
https://admixplay.com/ .
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