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Sure Ventures PLC - investor in early stage software companies - Says Mysafedrive Ltd, an investment held through the company's commitment in Sure Valley Ventures Fund, has raised EUR4 million under a series A investment round. The funding round was led by Puma Investments, with follow-on investment from existing investors Sure Valley Ventures and Enterprise Ireland. Sure Valley Venture's led vehicle safety technology specialist Mysafedrive's seed round in November 2017 with the latest round representing an almost fourfold unrealised gain on its initial investment. Having followed on in the Series A round, it holds 13% the enlarged share capital in Mysafedrive Ltd, also known as CameraMatics.
Mysafedrive will used the money raised to support additional expansion of its US branch and its recent entry into mainland Europe.
Current stock price: 102.00 pence; up 4.6% on Monday
Year-to-date change: up 10%
By Anna Farley; annafarley@alliancenews.com
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