TIDMPIRI
RNS Number : 8187D
Pires Investments PLC
01 July 2021
1 July 2021
Pires Investments plc
("Pires" or the "Company")
VividQ announces GBP11 million seed extension
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on VividQ, a leading software and IP developer for
holography, that Pires is invested in through its investments in
Sure Valley Ventures ("SVV") and Sure Ventures plc ("SV").
Deep technology company VividQ has announced a seed extension
round of GBP11 million, which will be used to scale the team,
expand in APAC and further product development, including HoloLCD,
which turns consumer-grade screens into holographic displays. This
new investment round has taken place at a significantly higher
valuation compared to the valuation at which the initial investment
was made by SVV and SV.
The Cambridge head-quartered business is powering the display
revolution with Computer-Generated Holography and has secured over
GBP17 million in funding to date. Its technology is used in the
development of next-generation digital displays and devices by
manufacturers in the US, China and Japan.
The latest investment was led by UTokyo IPC, the venture
investment arm for the University of Tokyo, who are joined by
Foresight Williams Technology (a joint collaboration between
Foresight Group and Williams Advanced Engineering), Japanese Miyako
Capital, Austrian APEX Ventures, and Silicon Valley's R42 Group.
Previous investors University of Tokyo Edge Capital, SVV, and Essex
Innovation also participated.
Founded in 2017, VividQ has made cutting-edge developments that
achieve real-time Computer-Generated Holography with high image
quality, at low power. The company collaborates with key providers
to bring this technology to everyday applications. VividQ has
worked with Arm, demonstrating mobile holographic display for the
first time, and other partners include Compound Photonics, Himax
Technologies, and iView Displays.
The funding round will further advance the adoption of VividQ's
solutions for Computer-Generated Holography across three
applications; in automotive head-up displays ("HUD"), augmented
reality ("AR") wearables, and bringing holography to consumer
electronics, with holographic LCD screens.
Pires has a circa 20% interest 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
and Immersive Technologies, Cyber Security, Machine Learning,
Immersive Technologies and Big Data. Pires has a combined direct
and indirect interest in SVV of circa 20%.
Peter Redmond, Chairman of Pires commented:
"We are pleased to note VividQ's seed extension of GBP11
million, which will be used to scale the team, expand in APAC,
further product development and the advancement of the adoption of
VividQ's solutions for Computer-Generated Holography.
"Through VividQ's work, the potential for mass consumer adoption
and usage of holographic displays is becoming ever more possible.
We look forward to following the company's progress in due
course."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Peter Redmond, Chairman
Nicholas Lee, Director
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 20 7213 0880
Liam Murray/Ludovico Lazzaretti
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 VividQ
VividQ is a software and IP licensing company with world-leading
expertise in Computer-Generated Holography. Holography is no longer
just science fiction. For the first time, Computer-Generated
Holography is available as a viable commercial solution in the
digital display industry. VividQ's products enable innovative
technology companies to integrate true holographic display in
augmented reality wearables, automotive head-up displays, and
consumer electronics.
The company's extensive R&D has led to cutting-edge
developments that achieve the highest image quality and lowest
power requirements in real-time Computer-Generated Holography.
VividQ's technology enables the most realistic and immersive visual
experiences possible.
For more information, please visit: www.vividq.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCRBMRTMTJMMAB
(END) Dow Jones Newswires
July 01, 2021 03:38 ET (07:38 GMT)
Mindflair (LSE:MFAI)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Mindflair (LSE:MFAI)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024