Pires Investments PLC CameraMatics raises EUR 3.9 million
30 Dezembro 2021 - 6:05AM
RNS Non-Regulatory
TIDMPIRI
Pires Investments PLC
30 December 2021
30 December 2021
Pires Investments plc
("Pires" or the "Company")
CameraMatics raises EUR3.9 million in growth funding
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 CameraMatics, an IoT fleet and vehicle safety
technology specialist, a company within the SVV portfolio.
CameraMatics has successfully raised a total of EUR3.9 million
in additional growth funding from existing investors SVV, Puma and
Enterprise Ireland. This funding round occurred at a valuation 90%
higher than the valuation at the time of CameraMatics' previous
funding round less than 12 months ago in January 2021.
The proceeds of the funding round are expected to be used to
expand CameraMatics' sales and marketing teams and to help fund its
global expansion and scale in line with the strong levels of growth
that the company is experiencing.
CameraMatics has grown steadily since launching in Ireland in
2016 and its customer connections, which include some of the
sector's leading fleet operators, have increased significantly
during the year. The company's solutions are currently operating in
tens of thousands of vehicles globally. CameraMatics has also
reported that it has seen over a 160% growth in recurring revenue
in the last 12 months and expects opportunities in its current
pipeline to further accelerate its growth.
Pires has a combined direct and indirect interest of circa 20%
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, Cyber Security, Machine Learning, Immersive
Technologies and Big Data.
Nicholas Lee, Director of Pires commented:
"We are delighted to note CameraMatics' successful funding
round, raising EUR3.9 million from existing investors at a
substantially increased valuation compared with the company's
previous funding round less that 12 months ago. This clearly
demonstrates the significant and rapid progress that this company
is making and epitomises the strategy and potential of the SVV
portfolio".
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Joint Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
Joint Broker Tel: +44 (0) 20 3167 7221
Tennyson Securities
Peter Krens
Financial media and PR Tel: +44 (0) 20 3004 9512
Yellow Jersey
Sarah Hollins
Henry Wilkinson
Annabelle Wills
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 CameraMatics
CameraMatics is a disruptive technology for Fleet and Driver
Risk Management. The CameraMatics SaaS-based full-stack platform is
a modular software platform based on Camera Technology, Vision
Systems, AI, Machine Learning and Telematics, combined with Fleet
Safety modules that help fleet operators to drive new safety
standards across their fleet and drivers.
By reducing accidents, improving operational efficiencies,
managing compliance, it gives complete visibility and peace of mind
for today's challenges in fleet operations. CameraMatics is based
in Dublin and Waterford (Ireland), London (UK), Richmond VA (USA)
and has recently made an entry into the market in mainland
Europe.
Further details about CameraMatics can be found at
https://www.cameramatics.com/ .
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