- Technology-focused investor Pires Investments has announced that CameraMatics, a company within the Sure Valley Ventures (SVV) portfolio it has invested in, has raised in excess of €4 million in a Series A funding round.

The new funding has been raised at a valuation that represents over 300% of the CameraMatics' valuation as at the time of SVV's initial investment in November 2017, Pires Investments said.

IoT fleet and vehicle safety technology specialist CameraMatics raised the funding from a consortium of investors, including existing investors SVV and Enterprise Ireland, led by Puma Investments.

Pires Investments chairman Peter Redmond said: 'We are delighted to note CameraMatics' successful Series A funding round, raising in excess of €4 million at a significantly higher valuation compared to when the initial investment was made.

'This funding should support further expansion of the company's US branch and drive forward its recent entry into the mainland European market.'

At 2:21pm: [LON:PIRI] Pires Investments Plc share price was 0p at 3.6p

Story provided by