Irish AI start-ups receive €100,000 each in pre-seed investment

Two Irish artificial intelligence start-ups, Risso AI and Persuva AI, have each secured €100,000 in pre-seed funding from Growing Capital, an early-stage investment firm and a backer of Furthr Foundry. Furthr has aided both companies in successfully obtaining €100,000 each from the Enterprise Ireland Pre-Seed Start Fund. Risso AI uses the technology to monitor noise pollution while Persuva AI creates audience-specific ad copy.

Binarii Labs, founded by Steven Garner, Nigel Carter, Aidan Finn and Ciarán McNamee in 2021, has secured an investment of €400,000 from Enterprise Ireland in HPSU match funding, bringing the total raised to €3 million by the company to date. The data security solutions developer, headquartered in NovaUCD, plans to create over 100 new jobs in Ireland by 2027.

Harcourt Technologies Limited, a Furthr client based in the Guinness Enterprise Centre, is leading the way to a sustainable housing industry in Ireland. HTL used a 3D concrete printer to construct three social housing units in Grange Close in Dundalk, making them the first 3D-printed homes in Ireland. Justin Kinsella, CEO of HTL, said that this method reduces the construction schedule by 25-30%. 

Everly, revolutionising event planning and gifting with its cutting-edge digital tools, has secured €100,000 from Enterprise Ireland through their Pre-Seed Start Fund. Following this, Cassidy Travel has collaborated with Everly to become its exclusive partner, enabling couples to plan their dream honeymoons with contributions from friends and family. Complementing the features, Everly will also integrate innovative fintech solutions to give couples enhanced control over their wedding finances.

Assiduous Corp Ltd., founded by Fergal Meegan and Barry Murphy, was selected by EIT Digital to join the Open Innovation Factory 2024. The company has raised €500k through the financial commitment from EIT Digital and Pre-Seed Start Fund from Enterprise Ireland to commercialise Assiduous' AI native advisory engine. Assiduous's SaaS product is designed to help SMEs with their strategic, financing and liquidity transactions. 

Skippio raises €540,000; aims to expand into the UK 

Skippio, based in Dublin and dedicated to enhancing fan experiences at major events, has secured €540,000 to extend its platform to the UK market. Established by Daniel Coen in 2022, the platform seeks to address the issue of lengthy lines for refreshments during large-scale events such as sports matches and concerts. This funding round was led by private investors, with additional backing from Enterprise Ireland through its High-Potential Start-Up (HPSU) programme.

Cork-based end-to-end digital transaction platform, Trustap, a Furthr VC portfolio company, has raised €5.1m in funding. This series A round was led by TX Ventures, with co-investments from new and existing investors including Furthr VC. Trustap's customers include Mudah in Malaysia, Preloved in the UK and Student Seats in the US, with partnerships across 27 countries. The funding will be used to expand its product offering in its go-to-market. 

InterTradeIreland clinic schedule for August

The schedule for InterTradeIreland clinics in August is now available on their website. These one-to-one clinics, delivered by Drew O'Sullivan, are aimed at helping companies seek equity investment. Following registration and pre-screening, a 75-minute slot will be assigned to each eligible company and will benefit from free equity investment advice, free fund-raising advice, free business plan review and free investment pitch practice. 

The National Enterprise Hub was launched by Minister for Enterprise Peter Burke as a new resource to help businesses access a wide range of government support. The hub will be a one-stop shop through which information and resources on over 180 supports from 19 different agencies and departments can be accessed. It can be accessed via www.neh.gov.ie, by phone (01 727 2100) or via live chat. 

AxisBIC has invited applications for the 2024 Entrepreneur Experience which will take place on the 18th & 19th of October. The Entrepreneur Experience is a unique event for 24 Emerging Entrepreneurs to gain unparalleled access, advice and mentoring from 24 of Ireland's most successful business leaders over 24 hours. The event is organised and managed in partnership with Cork City Council, Cork County Council, Grant Thornton, Broadlake, William Fry and The Currency.

Zaka VC has announced the launch of its first major investment fund to support early-stage start-ups in both the US and EU. After spending years privately investing into early-stage start-ups, Zaka has launched its first VC fund and is focused on B2B software, AI, Biotech and Health tech. 

Ireland has joined the Europe Startup Nations Alliance (ESNA), an organisation established to enhance the European start-up ecosystem. Enterprise Ireland has been nominated to represent Ireland. ESNA was created in 2021 and is supported by 26 EU Member States and Iceland.

The Furthr Masterclass Series is carefully crafted to provide founders with the knowledge, tools and network they need to navigate the start-up world. Join the Masterclass Series to get better equipped, stay ahead of the curve, avoid common pitfalls and accelerate your business growth.

A one day interactive workshop aimed at entrepreneurs at the start of their journey, Ready, Set, Go Furthr, is back after Summer. This workshop will delve into various topics including Customer Development, Strategy and Analysis, among others.