10th Mar 2020 16:06
(Alliance News) - Pires Investments PLC on Tuesday said it will invest EUR250,000 in artificial intelligence security company Visibility Blockchain Ltd.
The investment in Visibility Blockchain - also known as Getvisibility - will be through a share subscription as part of a EUR1.3 million fundraise being undertaken by Getvisibility.
Pires also said Sure Valley Ventures has invested EUR750,000 in Getvisibility.
Sure Valley Ventures is a venture capital fund focused on investing in the software technology sector with a specific focus on AI, the internet of things, and augmented and virtual reality. Pires holds a 13% stake in Sure Valley.
Pires also said it has received EUR721,274 in relation to the sale of one of Sure Valley Ventures' portfolio companies, Artomatix.
"We are very pleased to have been offered this new investment opportunity which is already operational and which we believe has exceptional growth possibilities. Furthermore, the sale of Artomatix and the sizeable cash return received so soon after our investment in SVV, demonstrates the value of our connection with that company," said Pires Chair Peter Redmond
The stock was trading 1.4% higher at 2.23 pence each on Tuesday afternoon in London.
By Ife Taiwo; [email protected]
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