RNS Number : 6345D | Sure Ventures PLC | 30 June 2021
Sure Ventures plc (‘Sure Ventures’ or ‘the Company’)
SmartTech247-New Contract Win
Sure Ventures is a London listed venture capital fund which invests in early stage software companies in the rapidly growing technology areas of Augmented reality (‘AR’), Virtual reality (‘VR’), Internet of Things (‘IoT’) and Artificial Intelligence (AI). We are pleased to announce and update on an investee company in Smarttech247.
SURE VALLEY VENTURES FUND
Sure Ventures made a €7million commitment to Sure Valley Ventures Fund (‘Sure Valley’) representing an interest in Sure Valley of approximately 25.9%. This commitment was made at a price of €1.00 per share.
Sure ventures is pleased to provide an update on recent investment (Via Sure Valley Ventures) in Smarttech247 and Smarttech247’s €6m order from a global manufacturing firm.
Smarttech247 (incorporated in the Republic of Ireland as Zefone Limited) is a global artificial intelligence (“AI”) based cyber security cloud business that protects enterprises as they migrate to cloud-based IT operations. Smarttech247 has over 100 technology partners, including Tanium and Crowdstrike, and 50 clients based in Europe and the US.
Smarttech247 has announced that it has been awarded a purchase order with the value of €6 million for plant level Operational Technology (“OT”) cyber security services, with respect to the contract announced by the Company on 24 June 2021.
OT is hardware and software that detects or causes a change through the direct monitoring and/or control of physical devices, processes and events in an enterprise. OT is common in Industrial Control Systems (ICS) such as a SCADA System.
As part of the contract, Smarttech247 will manage, advise and implement security measures and controls that aim to improve the prevention, detection, mitigation, and response capabilities for OT systems, as well as aligning with regulatory requirements.
Further information on Smarttech247 can be found on its website at https://www.smarttech247.com/
Gareth Burchell, Sure ventures
” The fact that this RNS has come so shortly after the last announced contract win shows the pace at which the cyber security market and Smarttech247’s pipeline is moving. The threat to Businesses, public sector organisations and governments is increasing significantly. It is clear that Smarttech247 has the technical capability, the bandwidth and global reach to begin to take advantage of this growth”.
For further information, please visit www.sureventuresplc.com or contact:
|Sure Ventures plc
|+44 (0) 20 7186 9918