Pires Investments plc , the investment company focused on next generation technology, announced an update on its investment in Low6 Limited, the company that has developed a next-generation sports betting platform, following a shareholder update received by Pires.
Low6 extended its pre-IPO funding round to allow a well-respected figure in the worldwide gaming industry to invest in Low6 and join its advisory board post-IPO, which was completed as expected. As Low6 continues to experience significant user growth, the company is looking to appoint a new Chief Technology Officer that can scale the business and execute its 3-year technology roadmap.
Low6 stated in the shareholder update that it now has over 122,000 users; 85% of which are Gen Z and Millennials – a target demographic of many gaming companies worldwide. Its PubWars apps went into soft launch on the 1 April 2021. The soft launch is a 4 week period where user numbers are limited, feedback is collated, and changes made to game play. In the first 7 days of soft launch over 2,000 entries were made.
Low6’s Uber Eats Weekly 7 game has also gone live and, since the previous shareholder update, Low6 has signed a number of new partners, including Hull City FC, IFL TV, WTF1. Discussions are on-going with other potential US partners.
Peter Redmond, Chairman of Pires, commented: “We are pleased to note that Low6 has continued to make rapid progress since our most recent investment in February, as part of the extension of Low6’s preIPO funding round. Recently, Low6 has launched the Uber Eats Weekly 7 game and PubWars app, as well as signing a number of new partners within the sports industry, with discussions currently underway with potential US partners. “With its IPO still on track for Q2 2021, we look forward to updating the market on Low6’s progress in due course.”