TIDMPIRI
Pires Investments PLC
31 October 2022
31 October 2022
Pires Investments plc
("Pires" or the "Company")
New SVV1 Investment in EVERYANGLE
Pires Investments plc (AIM: PIRI), the investment company
focused on next-generation technology, is pleased to provide an
update in relation to a new investment completed by the first Sure
Valley Ventures fund ("SVV1") in EVERYangle Ltd, trading as
EVERYANGLE, a Dublin-based, computer-vision company that helps
physical retailers, hospitality venues, and convenience service
stations to optimise operations.
EVERYANGLE has raised EUR2.7 million in a seed fundraise which
will be used to accelerate sales, invest in ongoing product
development and drive further expansion in the US and UK. The
funding round was led by Sure Valley Ventures, Act Venture Capital
and Furthr VC (formerly DBIC Ventures), with participation from
Enterprise Ireland.
EVERYANGLE's platform uses computer vision and machine learning
to analyse CCTV footage rapidly and cost effectively at-scale to
help retailers, hospitality and fuel station operators gain rich
in-store customer insights, reduce loss and optimise their
operations. The company plans to increase its headcount over the
next 24 months with recruitment underway for key hires in machine
learning, data science, software engineering, product management
and sales. EVERYANGLE has developed strategic go-to-market
partnerships with major vendors including Cisco and SAP, global
distributors such as TD Synnex, as well as international reseller
partners including CDW and WWT. These extensive partnerships enable
EVERYANGLE to serve sectors such as retail, hospitality,
manufacturing and healthcare, with customers including Mulberry,
Peloton and Oxford Industries.
Pires has a combined direct and indirect interest of circa 20%
in SVV1, 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:
"This represents an exciting new investment by SVV1. As the
number of CCTV cameras is rapidly increasing globally, EVERYANGLE's
platform enables its customers to gain valuable insights, reduce
losses and optimise their operations.
"This investment is expected to be the final new investment by
SVV1 as the fund now enters its realisation phase which, going
forward, should lead to attractive exits and cash returns for the
Company."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
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 EVERYANGLE
Established by David Owens in 2019, EVERYANGLE is focused on
helping retailers, hospitality venues and convenience service
stations to better understand their customers in-store, reduce loss
and optimise operations through computer vision technology.
Its platform includes solutions for:
-- Brick-and-Mortar Retail Store Performance
-- Demographic Customer Footfall Analysis
-- In-Store Customer Engagement
-- Checkout Scan Avoidance
-- Stockroom Utilisation
-- Labour Code 'Rest Break' Compliance
-- PPE Compliance
The Company is headquartered in Dublin.
For further information, visit: www.everyangle.ai
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