Pires Investments PLC Admix fundraise
29 September 2020 - 4:00PM
RNS Non-Regulatory
TIDMPIRI
Pires Investments PLC
29 September 2020
29 September 2020
Pires Investments plc
("Pires" or the "Company")
Admix extends Series A round to raise further $1.5 million from
leading gaming investors
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 Admix, a company within the SVV portfolio, which has
developed a programmatic monetisation platform for gaming and other
entertainment developers.
Two years after its initial seed funding, London-based start up
Admix has extended the Series A funding round announced in June
2020, raising a further $1.5 million from strategic gaming
investors, bringing the total round to $8.5 million.
Marcus Segal, previously Chief Operating Officer of Zynga
Studios and Nigel Morris, previously Chief Executive Officer of
Dentsu Aegis, joined the round, alongside a number of unnamed
executives working in the gaming and advertising industries in
which Admix operates.
The proceeds of the fundraise are intended to be used to
accelerate the development of the Admix's stack for game publishers
- it currently caters to c. 300 - and to grow its technology team
to 30 developers by the end of 2020.
Admix is positioning itself as the provider of infrastructure
for brands to engage with a growing number of gamers, which follows
the rapid rise of casual and mobile game players as a result of the
COVID-19 pandemic.
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 immersive technologies.
Peter Redmond, Chairman of Pires commented:
"Only two years after its initial seed funding, this extension
of the funding round announced earlier this summer demonstrates the
excitement surrounding Admix's platform for gaming and
entertainment developers at the moment. In-play advertising, a
substantial and developed market, has seen considerable growth as a
result of the COVID-19 pandemic and we expect this trend to
continue in the coming years.
"We believe that Admix's novel approach to game advertising at
scale positions the company perfectly to benefit from the increased
demand in this market. The additional funding and the inclusion of
notable industry figures participating in this extended fundraise
will no doubt allow Admix to continue its rapid growth path and, as
such, we look forward to updating the market with Admix's progress
in due course."
- Ends -
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Peter Redmond, Chairman
Nicholas Lee, Director
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,
Immersive Technologies 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 Admix
Admix has built a monetisation platform for the next generation
of entertainment, from traditional gaming to emerging channels,
such as Esports and VR/AR content. Admix continues to enhance and
develop a "marketplace" connecting gaming/content developers with
advertisers who want to buy non-intrusive, in game/content-ad
formats for their brands.
Further details about Admix can be found at
https://admixplay.com/ .
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END
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