MINDFLAIR PLC

Capital/Financing Update • Feb 27, 2025

National Storage Mechanism | Additional information

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 , the commercialisation arm of Queen's University Belfast, and Innovation Ulster , 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 , Techstart Ventures and Co-Fund NI 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 Cairn Financial Advisers LLP Liam Murray/Ludovico Lazzaretti	Tel: +44 (0) 20 7213 0880
Joint broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: +44 (0) 20 7469 0935 Tel: +44 (0) 20 7469 0936
Joint broker Shard Capital Partners LLP Damon Heath	Tel: +44 (0) 20 7601 6100

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 ) 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.

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