Published on: October 26, 2023
Strategic investor endorsement via £3.2m raise
Thruvision has successfully concluded the placing of 13.6m new ordinary shares at a 6.8% premium, raising £3.2m gross. This includes a £2.5m strategic investment from Pentland Capital, part of the Pentland Group, which owns leading sports brands such as Speedo, Berghaus, Canterbury, Ellesse and Mitre, as well as being the majority shareholder in JD Sports, a long-term customer and early adopter of the Thruvision technology. Existing shareholder Canaccord Genuity Wealth Management also invested a further £0.5m. In our view, the strategic investment by Pentland Capital serves as a clear validation of Thruvision’s business model, as well as bolstering its financial flexibility.