VividQ announces £11 million seed extension

RNS Number : 8187D

Pires Investments PLC

01 July 2021

 

1 July 2021

Pires Investments plc

("Pires" or the "Company")

VividQ announces £11 million seed extension

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on VividQ, a leading software and IP developer for holography, that Pires is invested in through its investments in Sure Valley Ventures ("SVV") and Sure Ventures plc ("SV").

Deep technology company VividQ has announced a seed extension round of £11 million, which will be used to scale the team, expand in APAC and further product development, including HoloLCD, which turns consumer-grade screens into holographic displays. This new investment round has taken place at a significantly higher valuation compared to the valuation at which the initial investment was made by SVV and SV.

The Cambridge head-quartered business is powering the display revolution with Computer-Generated Holography and has secured over £17 million in funding to date. Its technology is used in the development of next-generation digital displays and devices by manufacturers in the US, China and Japan.

The latest investment was led by UTokyo IPC, the venture investment arm for the University of Tokyo, who are joined by Foresight Williams Technology (a joint collaboration between Foresight Group and Williams Advanced Engineering), Japanese Miyako Capital, Austrian APEX Ventures, and Silicon Valley's R42 Group. Previous investors University of Tokyo Edge Capital, SVV, and Essex Innovation also participated.

Founded in 2017, VividQ has made cutting-edge developments that achieve real-time Computer-Generated Holography with high image quality, at low power. The company collaborates with key providers to bring this technology to everyday applications. VividQ has worked with Arm, demonstrating mobile holographic display for the first time, and other partners include Compound Photonics, Himax Technologies, and iView Displays.

The funding round will further advance the adoption of VividQ's solutions for Computer-Generated Holography across three applications; in automotive head-up displays ("HUD"), augmented reality ("AR") wearables, and bringing holography to consumer electronics, with holographic LCD screens.

Pires has a circa 20% interest in SVV, 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, Cyber Security, Machine Learning, Immersive Technologies and Big Data. Pires has a combined direct and indirect interest in SVV of circa 20%.

Peter Redmond, Chairman of Pires commented:

"We are pleased to note VividQ's seed extension of £11 million, which will be used to scale the team, expand in APAC, further product development and the advancement of the adoption of VividQ's solutions for Computer-Generated Holography. 

"Through VividQ's work, the potential for mass consumer adoption and usage of holographic displays is becoming ever more possible. We look forward to following the company's progress in due course."

Enquiries:

Pires Investments plc Peter Redmond, Chairman Nicholas Lee, Director	Tel: [phone]
Nominated Adviser Cairn Financial Advisers LLP Liam Murray/Ludovico Lazzaretti	Tel: [phone]
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: [phone] Tel: [phone]
Joint Broker Tennyson Securities Peter Krens	Tel: [phone]
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills	Tel: [phone]

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, Internet of Things, 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 VividQ

VividQ is a software and IP licensing company with world-leading expertise in Computer-Generated Holography. Holography is no longer just science fiction. For the first time, Computer-Generated Holography is available as a viable commercial solution in the digital display industry. VividQ's products enable innovative technology companies to integrate true holographic display in augmented reality wearables, automotive head-up displays, and consumer electronics.

The company's extensive R&D has led to cutting-edge developments that achieve the highest image quality and lowest power requirements in real-time Computer-Generated Holography. VividQ's technology enables the most realistic and immersive visual experiences possible.

For more information, please visit: www.vividq.com .

 

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