TIDMSURE
RNS Number : 1529X
Sure Ventures PLC
26 April 2019
SURE VENTURES PLC / ISIN: GB00BYWYZ460 / Ticker: SURE / Market:
SFS / Sector: Investment
26 April 2019
Sure Ventures plc ('Sure Ventures' or 'the Company')
Investment in holographic tech start-up VividQ
Sure Ventures plc, a London listed venture capital fund which
invests in early-stage software companies across a range of
high-tech verticals including Augmented Reality ('AR') and Virtual
Reality ('VR'), Artificial Intelligence ('AI'), and the Internet of
Things ('IoT'), is pleased to announce that it has made a direct
investment of GBP500,000 in VividQ Limited, a UK-based deep tech
software company pioneering the application of holography in AR/VR
and consumer electronics display.
Overview
-- VividQ is a deep tech start-up with world-leading expertise
in 3D holography. The company developed patented software to enable
commercial applications of holographic display in AR/VR headsets,
smartglasses, automotive head-up displays, and consumer
electronics.
-- VividQ was founded in February 2017 in Cambridge, UK.
Technical co-founders include engineers, mathematicians and
computer scientists from the University of Cambridge, Oxford, and
St Andrews with expertise in digital holography.
-- VividQ established partnerships with chipmakers, display and
hardware manufacturers in the US, Taiwan and Europe, to enable mass
adoption of holographic display with their patented software for
hologram generation.
-- The AR market is expected to grow from $11 to $61 billion
between 2018 and 2023, with the VR market growing from $8 to $34
billion in the same period, at CAGRs of over 30%, according to
Markets and Markets. At the same time, the global display market,
valued at $115.60 billion in 2017, is projected to reach $206.29
billion by 2025, registering a CAGR of 7.4% from 2018 to 2025,
according to Allied Market Research.
-- The investment will enable VividQ to accelerate the adoption
of their hologram generating software. They aim to double their
Cambridge and London-based teams to implement further developments
to the software framework and complete ongoing customer projects,
to productise devices using holographic display in 2020.
Sure Ventures CIO, Barry Downes, said, "We are delighted to
invest directly in VividQ. Darran and his team have the unique
combination of the world-leading expertise and the pioneering,
proprietary software technology that is the missing piece needed
for the mass adoption of holography, which will radically enhance
and grow the AR and digital display industry."
VividQ's CEO, Darran Milne, said, "Sure Ventures has been great
to work with, both for its professionalism and deep understanding
of the companies it invests in and the technology behind them. It
demonstrates the kind of vision and passion that the deep-tech
companies of today need to accelerate, bringing truly disruptive
solutions to market."
Further Information
Founded in February 2017, VividQ is a deep-tech software company
with world-leading expertise in 3D holography. With seed funding,
VividQ has grown its Commercial and Technical teams in Cambridge
and London, made a full release of their software framework, and
secured partnerships with world-class customers including hardware
and embedded systems manufacturers.
Holography has long been considered the ultimate display
technology. The science fiction ideal of engineering and
manipulating light to produce 3D projections appealed to the
imagination of millions through franchises such as Star Wars or
Star Trek. While physically possible, the tremendous computing
requirements to create full-depth holographic display made it
unreachable for commercial applications. Until now.
VividQ has developed solutions required for the mass adoption of
holography in AR and consumer electronics. Its patented software
framework allows for the real-time generation of holograms from 3D
data, and projection on available micro-displays. Commercially
viable holographic display solves a crucial problem of today's
AR/VR - the lack of depth perception, which disrupts the user's
sense of realism and results in eye-fatigue and nausea. Holography
overcomes these issues and paves the way for immersive 3D without
the need for glasses at all.
With technical co-founders leading their team out of Cambridge
(UK), VividQ has benefited from the rich research environment of
the University and its Centre for Advanced Photonics and
Electronics. VividQ's Commercial Team operates from London, as part
of the rich entrepreneurial network of TechHub and Innovation
Warehouse. The company has achieved wide recognition at
international industry events including AWE, nVidia GTC, Photonics
West, and Mobile World Congress.
- ENDS -
For further information, please visit
https://sureventuresplc.com or contact:
Gareth Burchell Sure Ventures plc +44 (0) 20 7186 9951
Isabel de Salis / Melissa Hancock St Brides Partners (Financial PR) +44 (0) 20 7236 1177
Anoushka Gangji VividQ +44 (0) 20 8133 5592
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. The Company
aims to provide investors with a diversified exposure to three
rapidly-growing markets: augmented reality/virtual reality, fintech
and Internet of Things. 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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END
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