Pires Investments PLC Ambisense raises additional funds
27 Agosto 2021 - 4:44AM
RNS Non-Regulatory
TIDMPIRI
Pires Investments PLC
27 August 2021
27 August 2021
Pires Investments plc
("Pires" or the "Company")
Ambisense raises EUR3 million in funding round
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on its investment in Ambisense, an IoT (Internet of Things)
and AI (Artificial Intelligence) enabled environmental risk
assessment business, which Pires is invested in through its
investment in Sure Valley Ventures ("SVV").
Ambisense has successfully raised EUR3 million in a funding
round led by BGF, one of Ireland's leading growth capital
investors, and supported by existing investors, including SVV,
Atlantic Bridge and Enterprise Ireland. As part of the funding,
Mark Sykes of BGF has been appointed to Ambisense's Board and
Graham Love has joined as Non-Executive Chairman.
The company, founded in Dublin City University in 2014 and led
by founder Stephen McNulty, has operations in Dublin, the UK and
the Netherlands. Ambisense combines Artificial Intelligence with
reliable, field-deployable instruments that generate and analyse a
continuous flow of data, enabling the prediction of environmental
hazards before they occur. Its technology has already been
successfully used on some of the world's largest infrastructure
projects, and its newest product, AmbiAir, which monitors indoor
air quality, can be used to minimise Covid-19 risk by allowing for
the safe re-opening and operation of commercial offices, retail,
education and healthcare facilities.
The funds raised will accelerate Ambisense's ambition to create
healthier, safer environments by preventing environmental hazards
before they occur. Ambisense will continue R&D across its
products and focus on building its client base to meet rising
demand.
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.
Peter Redmond, Chairman of Pires commented:
"We want to congratulate Ambisense on a successful funding
round, raising EUR3 million. This funding should support further
growth and enable Ambisense to capitalise on the opportunities that
are available to the business, in line with the strong demand for
environmental services as key sectors of the economy re-open
post-Covid-19. We look forward to updating the market on
Ambisense's further progress in due course."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Peter Redmond, Chairman
Nicholas Lee, Director
Joint Broker
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey/Lucy Williams Tel: +44 (0) 20 7469 0936
Joint Broker
Tennyson Securities Tel: +44 (0) 20 3167 7221
Peter Krens
Financial media and PR
Yellow Jersey Tel: +44 (0) 20 3004 9512
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 Ambisense
Ambisense is a technology company operating across the
environmental market. Its products and solutions blend IoT
technology with artificial intelligence, building out solutions
which predict the likelihood of environmental hazards before they
occur. Its innovative technology is actively used to detect and
mitigate risk across infrastructure & brownfield
redevelopments, air quality, waste management and oil & gas
sectors.
Further information on Ambisense can be found at
https://ambisense.net/ .
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