Pires Investments PLC Buymie fundraise (8887P)
15 Giugno 2020 - 08:00AM
UK Regulatory
TIDMPIRI
RNS Number : 8887P
Pires Investments PLC
15 June 2020
15 June 2020
Pires Investments plc
("Pires" or the "Company")
Buymie raises EUR5.8 million for expansion in the UK and
Ireland
Pires Investments plc (AIM:PIRI), the investment company focused
on next generation technology, is pleased to provide an update on
its investment in Sure Valley Ventures ("SVV") in relation to
Buymie Technologies Limited ("Buymie"), the artificial intelligence
based same-day grocery delivery company that sits within the SVV
portfolio.
On 14 June 2020, Buymie announced a funding round to raise
EUR5.8 million, led by a new investor, Wheatsheaf Group, the food
and agricultural arm of the Grosvenor Estate. This new funding has
been raised at a valuation that is over 200% of Buymie's valuation
as at the time of SVV's initial investment of EUR300,000 made in
April 2020. This funding round has also been supported by a number
of existing investors, including SVV, who is investing a further
EUR620,000.
Over the last 18 months, Buymie has expanded significantly to
meet the increasing demand for grocery home delivery, a trend which
has heightened during the Covid-19 pandemic. Buymie works closely
with its retail partners, including Lidl and The Co-op, to help
them provide a same-day delivery service to their customers,
enabling them to compete with Amazon, which has significant
ambitions to lead in same-day grocery delivery.
In May 2020, the business launched in the UK, with The Co-op and
other UK retailers, marking the company's first expansion outside
Ireland. The service is currently available in the Bristol
metropolitan area. The funds recently raised will enable Buymie to
continue rapid market expansion in both Ireland and the UK, with 15
other cities currently being considered.
Pires has a circa 13% interest in SVV. SVV is a venture capital
fund focused on investing in the software technology sector with a
specific focus on artificial intelligence, the internet of things
and augmented and virtual reality.
Peter Redmond, Chairman commented:
"We are delighted that Buymie has raised EUR5.8 million to help
fund the expansion of its activities. It is also particularly
pleasing to see the significant increase in Buymie's valuation
compared to the valuation at the time of SVV's initial investment
in April 2020. We look forward to following Buymie's progress over
the coming months."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Pires Investments plc
Peter Redmond, Chairman Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 20 7213 0880
Liam Murray
Ludovico Lazzaretti
Broker
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey/Lucy Williams Tel: +44 (0) 20 7469 0936
Financial media and PR
Yellow Jersey Tel: +44 (0) 20 3004 9512
Sarah Hollins
Henry Wilkinson
Annabel Atkins
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 ("AI"),
Internet of Things ("IoT"), Cyber Security, Machine Learning,
Augmented Reality and Virtual Reality ("AR/VR") 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 Buymie
Buymie, headquartered in Dublin, operates a same-day grocery
delivery service, where you can order groceries and have them
delivered to your door in as little as one hour. Buymie is the
market leader in same-day grocery delivery in Ireland and, in 2018,
became the first independent e-commerce platform in Europe to
launch the discount channel online through a strategic partnership
with Lidl. The company was founded in 2016 by serial entrepreneur
Devan Hughes (CEO) and Art Sokhikyan (CTO). The company has
operations in the UK, Ireland and Armenia.
Further details about Buymie can be found at www.buymie.com .
A video interview with the founder and CEO of Buymie, Devan
Hughes and Nicholas Lee, Director of Pires, can be found on the
Pires website at www.piresinvestments.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.
END
MSCSFIFULESSEDM
(END) Dow Jones Newswires
June 15, 2020 02:00 ET (06:00 GMT)
Grafico Azioni Mindflair (LSE:MFAI)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Mindflair (LSE:MFAI)
Storico
Da Mar 2023 a Mar 2024