TIDMPIRI
Pires Investments PLC
14 December 2022
14 December 2022
Pires Investments plc
("Pires" or the "Company")
Second Investment of the Sure Valley Ventures UK Software
Technology Fund
Sure Valley Ventures leads GBP3 Million Seed Round in AI as a
Service Start-Up Jaid
Pires Investments plc (AIM: PIRI), the investment company
focused on next-generation technology, is pleased to provide an
update on its investment in the Sure Valley Ventures UK Software
Technology Fund (the "SVV Software Fund").
Sure Valley Ventures ("SVV") has led a GBP3m seed round in
Opsmatix Systems Limited trading as Jaid ("Jaid"), an innovative
technology firm providing AI-powered human communication solutions,
marking the fund's second investment. The proceeds of the funding
will be used to expand its industry-leading machine learning team,
build out business development efforts across America and Europe
and expand into Asia.
Jaid is a rapidly growing company that provides AI as a Service
(AIaaS) solutions to businesses to automate a variety of use cases,
including client service automation, sales automation, payment
exception processing, and claims administration processing. Jaid's
technology helps businesses reduce costs, improve efficiency, and
make data-driven decisions.
Jaid's focus to date has been on the financial services
industry, with a strong roster of clients including ClearBank,
Syndio, Calastone, and Legal & General. The proceeds of the
funding will allow the exploration of new verticals, such as
healthcare, which has an estimated total addressable market of
GBP15 billion.(1)
The SVV Software Fund is a newly-established venture capital
fund, investing in a range of private UK software companies with a
focus on companies in the Metaverse, Artificial Intelligence and
Cybersecurity sectors. The fund is run by the same SVV team which
has been highly successful in achieving a number of cash
realisations from, and upward revaluations of, companies in the SVV
portfolio.
The SVV Software Fund, which includes a cornerstone GBP50
million investment from the British Business Bank through its
Enterprise Capital Funds programme, was launched in March 2022.
Nicholas Lee, Director of Pires, commented:
"Following its launch in March 2022, we are pleased to note the
second investment of the Sure Valley Ventures UK Software
Technology Fund. Jaid represents a very exciting, high-growth
potential opportunity in the increasingly influential AI as a
Service sector. The proceeds from the funding will be used to scale
the business, grow Jaid's machine-learning team and geographical
reach, as well as for the exploration of new verticals, such as the
healthcare industry, where the company sees significant untapped
value.
"We look forward to providing further updates with regard to
Jaid and the SVV Software Fund in due course."
(1) Source: OECD
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 Jaid
Jaid is a modern Al-powered automation platform that extracts
critical data from all company and customer communications across
all channels. It analyses and organises the data into meaningful,
actionable insights and seamlessly integrates with existing systems
and workflows. The company has offices in London and New York,
supporting a rapidly expanding roster of financial services
clients, including ClearBank, Syndio, Calastone, and Legal &
General, and has established a strong partner network.
For further information, visit: https://jaid.io/
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