Dublin-based company, Xpanse AI, came out on top at NDRC Investor Showcase yesterday, with the automated predictive analytics startup seeing off four other high-quality businesses to win the event and, with that, €30,000 in follow-on investment.
At NDRC’s final Investor Showcase of 2018, five companies pitched to a panel of investors in sectors ranging from sensor-led food packaging to compliance solutions, each looking to secure next stage investment and continue their path to growth.
The judges on the day were Ben Hurley, CEO NDRC; David Bowles, Delta Partners; Debbie Renwick, ACT Ventures; Niamh Sterling, HBAN; and Will Prendergast, Frontline Ventures.
NDRC builds and invests in digital startups, with its current portfolio of companies including Tandem, SilverCloud Health, Newswhip, Boxever and Nuritas.
NDRC has a mandate from the State (Department of Communications, Climate Action and Environment) to make these investments; ensuring digital entrepreneurship is a vibrant and growing part of the Irish economy and helping position the country to compete internationally.
Ben Hurley, CEO NDRC said: “Xpanse AI impressed the judges as it has a broad and big market opportunity, with customer traction in multiple sectors. Through its business model, its bite-size contracts are flexible, they can be both small and large, which can help with its future expansion.
“Also the judges noted the depth of knowledge among the founding team. Xpanse AI is a great application of AI technology.
“Overall it was an extremely strong cohort, with the judges highlighting the great commercial traction experienced by all five businesses, relative to the amount invested in each company.”
NDRC is currently seeking startups for its upcoming investment programmes in Galway and Dublin, with further information, see www.ndrc.ie
The 5 startups that took part in today’s NDRC Investor Showcase are:
Senoptica is improving safety and trust in the global food chain through its patent-pending sensor technology.
Cation is automating 80 per cent of customer interactions across hundreds of thousands of conversations every month. Cation’s multilingual multichannel AI is live with one of the world’s largest airlines turning long wait times into sub-second responses.
Xpanse AI gives direct marketers the ability to quickly and easily self-serve predictive models, transforming how they manage customer retention and maximise the value of their customer base.
RecEasy is the next generation in accounting compliance software, automating tedious month-end reconciliations and saving enterprises thousands in resource hours, and millions in associated costs.
PointCheck is transforming facilities management from data capture to analytics and workflow improvement, protecting businesses and creating efficiencies for their second-largest cost.