REG - Mindflair PLC - Retinize secures £1.6 million investment

MindflairAnnouncement

27/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250227:nRSa6140Ya&default-theme=true

RNS Number : 6140Y  Mindflair PLC  27 February 2025

27 February 2025

Mindflair plc

("Mindflair" or the "Company")

Retinize secures £1.6 million investment with

joint backing from QUBIS and Innovation Ulster

Mindflair plc, the company investing in next-generation technology focused on
AI, is pleased to note the recent announcement by RETìníZE  Limited
("Retinize"), a portfolio company of Sure Valley Ventures UK Software
Technology Fund ("SVV2"), regarding the successful completion of a £1.6
million investment round. Furthermore, this investment took place at a higher
valuation compared to the company's value at the time of SVV2's initial
investment.

This funding round was supported by QUBIS (https://www.qubis.co.uk/) , the
commercialisation arm of Queen's University Belfast, and Innovation Ulster
(https://www.ulster.ac.uk/research/collaboration-and-innovation/innovation-ulster-ltd)
, the investment vehicle of Ulster University. Retinize, a pioneering creative
technology software company based in Northern Ireland, has secured this
investment to further develop its flagship product, a next-generation
immersive technology solution aimed at transforming the creative industries.
The round also included follow-on investments from Sure Valley Ventures
(https://surevalleyventures.com/) , Techstart Ventures
(https://www.techstart.vc/) and Co-Fund NI
(https://www.clarendon-fm.co.uk/co-fund-ni-4/) with additional backing from
angel investors.

Nicholas Lee, a Director of Mindflair, said:

"We are pleased to see Retinize being backed by new investors QUBIS and
Innovation Ulster and to see the progress it is making in the creative
technology space."

The Directors of the Company are responsible for the release of this
announcement. The person who arranged for the release of this information is
Nicholas Lee, a director of the Company.

 

Enquiries:

 

 Mindflair plc

 Nicholas Lee, Director            Tel: +44 (0) 20 3368 8961
 Nominated Adviser                 Tel: +44 (0) 20 7213 0880

 Cairn Financial Advisers LLP

 Liam Murray/Ludovico Lazzaretti

 Joint broker                      Tel: +44 (0) 20 7469 0935

 Peterhouse Capital Limited        Tel: +44 (0) 20 7469 0936

 Duncan Vasey/Lucy Williams
 Joint broker                      Tel: +44 (0) 20 7601 6100

 Shard Capital Partners LLP

 Damon Heath

Notes to Editors

Mindflair plc (AIM: MFAI) is an investment company providing investors with
access to a portfolio of next generation technology businesses focused on AI
with significant growth potential. The Company is building an investment
portfolio of high-tech businesses focused on Artificial Intelligence, across
such areas 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:
http://www.mindflair.tech/.

Sure Valley Ventures (www.surevalleyventures.com) ("SVV") is a venture capital
firm that invests in early-stage AI software companies in the UK and Ireland.
Investing in AI since the firm's inception in 2017, SVV has a strong track
record of accelerating the growth of private AI companies through to Series A
and beyond.

Retinize (https://www.retinize.com (https://www.retinize.com) ) is a
cutting-edge creative technology company based in Belfast, Northern Ireland.
The company is at the forefront of immersive software development, using
virtual and augmented reality to enhance creative workflows. Its flagship
product, currently in development, aims to revolutionise the way creative
teams produce content, offering a more intuitive and efficient alternative to
traditional methods. Retinize has received industry recognition for its
innovative approach and has been supported by key technology investors and
institutions.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSEMFUMEISEIE