SURE Sure Ventures Plc

TIDMSURE

RNS Number : 1569B

Sure Ventures PLC

06 October 2020

Sure Ventures plc ('Sure Ventures' or 'the Company')

Buymie partners with Dunnes Stores for same-day grocery delivery

Sure Ventures plc, a London listed venture capital fund which invests in early stage software companies in the rapidly growing technology areas of augmented reality ('AR'), virtual reality ('VR'), Internet of Things ('IoT') and Artificial Intelligence (AI). We are pleased to provide an update on one of its Investments held through its commitment in Sure Valley Ventures Fund ("SVV").

Buymie has announced a new partnership with Dunnes Stores, Ireland's second most popular grocery chain, which will allow customers to be able to order groceries from 24 stores in the greater Dublin area and in Cork city for same-day delivery. Under the partnership, customers will be able to book delivery slots for as little as one hour or up to seven days in advance.

To access the delivery service, customers can download the Buymie mobile app and, once registered, can select to shop for groceries within the Dunnes online grocery store. All customers have access to their own personal shopper who will let them know if items are out of stock and offer alternatives. Customers can also add a request for shoppers to look for items that they can't find themselves on the app.

Online grocery sales have surged during the pandemic and are still rising despite the easing of lockdown restrictions. Sales grew by 121.7 per cent over the four weeks ending 19 September, according to Kantar, with new shoppers accounting for almost a quarter of the EUR133.6 million spent on online groceries in the previous 12 weeks.

Sure Ventures PLC has made a EUR7m commitment to SVV, representing an interest of 25.9% across the SVV investment portfolio, including the Sure Valley Ventures stake in Buymie.

Gareth Burchell: "This is another major development for Buymie and continued validation of the opportunity that presents itself. The differentiating qualities of the Buymie service are its "Store agnostic" model and its personalised service. The growth trajectory that Buymie find themselves on is very impressive."

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For further information, please visit www.sureventuresplc.com or contact:

 
Gareth Burchell   Sure Ventures plc   +44 (0) 20 7186 9918 
 
 

Notes to Editors

Sure Ventures plc listed on the London Stock Exchange in January 2018 giving retail investors access to an asset class that is usually dominated by private venture capital funds. Sure Ventures is focusing on companies in the UK, Republic of Ireland and other European countries, making seed and series A investments in companies with first rate management teams, products which benefit from market validation with target revenue run rates of at least GBP400,000 over the next 12 months. Website: https://www.sureventuresplc.com/

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October 06, 2020 02:00 ET (06:00 GMT)

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