Pires Investments PLC New SVV investment in Volograms Limited (3907U)
29 Luglio 2020 - 8:00AM
UK Regulatory
TIDMPIRI
RNS Number : 3907U
Pires Investments PLC
29 July 2020
29 July 2020
Pires Investments plc
("Pires" or the "Company")
New SVV investment in Volograms Limited
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 SVV's new investment in the reality capture and
volumetric video company, Volograms Limited ("Volograms").
Volograms' technology enables users to capture volumetric
holograms of real people. By inserting holograms into videos,
people can create their own immersive Augmented Reality ("AR") and
Virtual Reality ("VR") content for use in apps, social media and VR
headsets. The mobile AR market is forecast to grow from the one
billion compatible devices and over US$8 billion in revenue in 2019
to 2.5 billion compatible devices and US$60 billion in revenue by
2024. The growth potential for Volograms is therefore significant
and could attract success similar to other innovative products
designed for mobile applications such as Pokémon Go.
SVV has successfully led a new EUR1.5 million investment round
for Volograms, in which Atlantic Bridge University Fund and
Enterprise Ireland have also made follow-on investments. The funds
raised by the investment round will accelerate Volograms' ambition
to bring AR capture closer to everyone by helping it to integrate
its technology into personal mobile devices.
Founded in 2018, through a spin out from Trinity College,
Dublin, Volograms, is already a market leader in volumetric video.
It has worked on projects for customers including Samsung, The
London College of Fashion and The Royal College of Surgeons in
Ireland. Other providers of volumetric video capture require a
person to travel to a specialist studio which is typically
comprised of up to 100 cameras. This approach demands a significant
investment of time and money. Volograms' current technology,
however, can achieve high-quality AR image and video capture using
far fewer cameras and different camera setups thereby reducing the
cost for the creators.
More information on Volograms can be found via the following
link: https://volograms.com .
Pires has a circa 13% interest in SVV which 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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Peter Redmond, Chairman of Pires commented:
"We are delighted with SVV's new investment in Volograms. With
the mobile AR market forecast for considerable growth in the coming
years, we believe that Volograms is opening a new market category
for AR photos and video . Already a market leader in volumetric
videos and with a well-recognised customer base, we also believe
that Volograms' technology will usher in the rapid expansion of the
mobile AR industry and so this SVV investment in Volograms is
exciting and well-timed. We very much look forward to following
Volograms' progress and providing further updates in due
course."
- Ends -
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
Joint Broker
Mirabaud Securities Limited Tel: +44 (0) 20 3167 7221
Peter Krens
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/
.
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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