Pires Investments PLC
26 May 2020
Pires Investments plc
("Pires" or the "Company")
Buymie partners with Co-op for same day online delivery service
Pires is pleased to provide an update on its investment in Sure Valley Ventures ("SVV") in relation to Buymie Technologies Limited ("Buymie"), a company within the SVV portfolio.
Buymie, the online grocery delivery provider, has teamed up with the UK supermarket chain Co-op ("Co-op") to offer same-day home deliveries to more than 200,000 households in Bristol. This is the first partnership in the UK for Buymie as the company accelerates its UK expansion plans.
Buymie has created a platform that uses artificial intelligence to provide consumers with access to multiple large retailers. Buymie's model does not require vans and warehouses to be able to increase its capacity and can scale its service in weeks rather than months. This is achieved by using state of the art platform technology and connectivity to connect consumers with a network of hundreds of independent personal shoppers who can pick and deliver items directly from retail stores to consumers.
Buymie has already signed a multi-year partnership agreement with Lidl Ireland where it will provide a personalised online grocery delivery service for the retailer. The company also allows consumers to order from Tesco Ireland.
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 also be found on the Pires website at www.piresinvestments.com.
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.
Pires Investments plc
Peter Redmond, Chairman Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey/Lucy Williams Tel: +44 (0) 20 7469 0936
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(END) Dow Jones Newswires
May 26, 2020 09:05 ET (13:05 GMT)