Enterprise Ireland Approves €3.5 Million in Investment to Start-up Companies in November

Eighteen start-up companies supported by Enterprise Ireland were approved for investment funding totalling €3.55million in November 2024.

The investment secured by these companies includes equity investment up to the value of €400K as part of Enterprise Ireland’s High Potential Start-Up programme. It also includes funding up to the value of €100k from the Pre-Seed Start Fund (PSSF).

In total, 11 start-ups were approved for investment as part of the HPSU programme, and seven were approved for receipt of the PSSF.

Start-ups approved for investment in November include:

• Voicetune AI

• Blip Payments Limited

• CRAOI Theory Limited

• VALUEAI Limited

• Biota MRV

• Unitmode

• FacePos Limited

• Waggi Connected Pets Limited

• Isovasc Medical Limited

• Menopause Hub Academy

• Sunstone Technologies Limited

• Stormlands Mining Limited

• Ride Today Limited

• TrojanTrack Limited

• Quiz Wizards Limited

Enterprise Ireland supports high-potential start-ups on their journey to international growth, offering an ecosystem of funding and support for expansion into global markets. A HPSU is considered a fast-growing export led company, typically with the potential to deliver at least 10 jobs and €1m in sales within three years of investment.

The Pre-Seed Start Fund (PSSF) supports the critical early-stage needs of a new start-up to the value of €100,000 in the form of a convertible loan note and is open to innovative start-ups in all sectors, with a focus on manufacturing, life sciences, food and renewables sectors.

Voicetune AI, one of the companies approved for funding began their journey as research and developed into a spin-out company through Enterprise Ireland’s targeted Commercialisation Fund. This fund supports third-level researchers to develop their technology into innovative and commercially viable products, services and companies.

Jennifer Melia, Executive Director at Enterprise Ireland, said:

“The innovation and ambition emerging from Ireland’s start-up pool has never been higher than it is today. The evidence is clear in the calibre of talent and capability demonstrated by the client companies who were recently approved funding. Many of the HPSU’S we have approved so far this year have gone on to close with additional funding secured and matched by established and highly regarded VC’s and angel investors.

This instils a high level of confidence in the success of the start-up eco-system in Ireland. Enterprise Ireland will continue to help drive the success of the most forward-thinking Irish companies, enabling start-ups to thrive and influence the future of global business – cementing Ireland’s reputation as a prime hub for innovation.”

Enterprise Ireland supports ambitious Irish companies to achieve greater scale through fostering and developing entrepreneurship. €24 million equity investment was committed by Enterprise Ireland to start-up companies in 2023.