TIDMPIRI
Pires Investments PLC
31 March 2023
31 March 2023
Pires Investments plc
("Pires" or the "Company")
LandVault raises additional $3 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 Fund 1 ("SVV1") in
relation to LandVault, a company within the SVV1 portfolio.
LandVault, a large metaverse builder, has successfully raised an
additional $3 million after extending its Series B funding round.
This strategic funding from web3 investors including The Sandbox,
The Gemini Frontier Fund, HodICo and hedge fund Kingsway Capital,
follows on from the company's $25 million Series B fundraise in
October 2021.
The proceeds of this fundraise are expected to be used to expand
the growth of the company's commercial operations across Dubai,
Europe, Asia and the USA, allowing more brands and organizations
access to the metaverse. LandVault is also currently building a
protocol, Matera, to make the metaverse experience more accessible,
and this additional funding will further support the research and
design needed to create this. Finally, the funds will allow
LandVault to further invest in innovative technologies, such as
AI-powered tools to fast-track the monetization and creation of
immersive virtual experiences.
Pires has a combined direct and indirect interest of circa 20%
in SVV1, an AI-focused venture capital fund which helps software
companies grow and scale their businesses in order to have global
impact.
Nicholas Lee, Director of Pires, commented:
"We are pleased that LandVault has raised additional funding to
continue to develop its vision to accelerate the metaverse economy
using AI technology.
"This is a good example of the progress that is being made by
the companies within the SVV1 portfolio."
Sam Huber, CEO of LandVault, commented:
"Our vision has always been to accelerate the metaverse economy,
and the advancement of AI technology is helping us fast-track our
roadmap. The metaverse needs a 'WordPress moment' for anyone to
build virtual experiences as easily as a website, and we are
investing heavily in R&D to build these tools."
Sebastien Borget, COO and Co-Founder of The Sandbox,
commented:
"LandVault has established itself in just a year as one of the
most active metaverse builders. We are pleased to support them
further on this journey as they continue to develop their
activities and technology to inspire many other creators of the
metaverse."
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
Annabelle Wills
Jazmine Clemens
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 with a focus on Artificial Intelligence, across areas
such as 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 LandVault
LandVault is the largest metaverse builder with over 100 million
square feet of virtual real estate, more than 120 full-time
creators, and nearly 300 completed projects. We've been helping
brands build and grow in gaming environments since 2017 and the
metaverse since 2021.
LandVault's platform-agnostic proprietary technology and
creative powerhouse builds and delivers tailored, data-driven, and
optimized business solutions and insights. We help clients launch,
optimize, and monetize metaverse experiences.
LandVault's mission is to accelerate the metaverse economy
through technology with a vision of a fairer wealth distribution
across the web.
For further information, visit: https://landvault.io
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