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  • $2.7B Funding Secured by 18 Irish Businesses in September 🚀

$2.7B Funding Secured by 18 Irish Businesses in September 🚀

September 2023

Author

Stephen Mullan
October 27, 2023

👋 Welcome to the DIA Investment Deep Dive for September 🤿, your monthly digest of Irish businesses that secured funding across the globe.

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18 companies across the island of Ireland successfully secured substantial investments in September.

In total, these companies secured over $2.7 billion, with eye-catching funding rounds completed by Irish-founded NYSE-listed Aercap ($1.75B) and Irish Unicorn Wayflyer ($1B) in Post-IPO Debt and Debt Financing respectively making up the vast majority of funding raised.

Aside from the two high-profile raises three notable trends emerged🔍:

Pre-Seed and Seed Funding for Startups: Seven startups: Micron AgriTech, ePower, Kwayga, Openvolt, Kayna, and Modeliks secured early-stage funding. Aligning with a worldwide trend that has seen seed funding remain strong, unlike later-stage finding which has plummeted across the VC industry globally:

Diverse Funding Landscape: The companies securing investments in September represent a wide range of industries, including e-commerce analytics, aviation finance, cybersecurity, internet services, and more, underscoring the vibrancy of the Irish ecosystem.

Sustainable Technology: Companies like Eqtec and ePower are focusing on environmental sustainability by converting waste into synthetic gas and promoting electric vehicle (EV) charging solutions. These companies highlight the investment community's high interest in eco-friendly initiatives.

Check out the full list of companies with accompanying information👇🏽:

Wayflyer 💵

  • Headquarters: Dublin

  • Number of Employees: 251-500

  • Funding Amount: $1,000,000,000

  • Last Funding Type: Debt Financing

E-commerce loan startup Wayflyer secures $1B deal from Neuberger Berman | TechCrunch

Wayflyer, a Dublin-based startup providing loans to e-commerce companies, has secured a $1B deal from Neuberger Berman.

AerCap ✈️

  • Headquarters: Dublin

  • Number of Employees: 251-500

  • Funding Amount: $1,750,000,000

  • Last Funding Type: Post-IPO Debt

AerCap Holdings N.V. Announces Pricing Of $1.75 Billion Aggregate Principal Amount Of Senior Notes

The Issuers intend to use the net proceeds from the Notes for general corporate purposes, including to acquire, invest in, finance or refinance aircraft assets and to repay indebtedness.

Vaultree 🔒

  • Headquarters: Cork

  • Number of Employees: 11-50

  • Funding Amount: $16,100,000

  • Last Funding Type: Non-equity Assistance

Vaultree specializes in data-in-use encryption solutions. Their $16.1 million in non-equity assistance underscores the importance of cybersecurity in today's digital landscape.

Micron AgriTech 🐄

  • Headquarters: Dublin

  • Number of Employees: 1-10

  • Funding Amount: €2,880,307 (EUR)

  • Last Funding Type: Seed

Irish startup Micron Agritech raises €2.7M to reduce unnecessary anti-parasite use on farms

Fibrus🌐

  • Headquarters: Belfast

  • Number of Employees: 101-250

  • Funding Amount: £44,061,514 (GBP)

  • Last Funding Type: Venture - Series Unknown

Equity funding for Fibrus wins Deal of the Month

Full fibre broadband provider Fibrus securing an additional £35m tranche of equity funding to power its growth has won Deal of the Month.

Datalex ✈️

  • Headquarters: Dublin

  • Number of Employees: 101-250

  • Funding Amount: €5,324,337 (EUR)

  • Last Funding Type: Post-IPO Debt

Datalex, operating as a digital commerce platform for travel, secured €5.3 million EUR in post-IPO debt financing, emphasizing the significance of tech in the travel sector.

Avoca Clinic 💆‍♀️

  • Headquarters: Wicklow

  • Number of Employees: 11-50

  • Funding Amount: €7,513,123 (EUR)

  • Last Funding Type: Venture - Series Unknown

BGF to invest €7m in The Avoca Clinic

Growth capital investor BGF has invested €7m in The Avoca Clinic, a cosmetic surgery practice co-founded by mother and daughter Ailish Kelly and Niamh Murdock.

Eqtec ♻️

  • Headquarters: Cork

  • Number of Employees: 11-50

  • Funding Amount: €2,909,488 (EUR)

  • Last Funding Type: Post-IPO Debt

Cork's Eqtec uses advanced gasification technology to convert waste into synthetic gas, addressing environmental concerns.

Foodcloud 🥫

  • Headquarters: Dublin, Dublin, Ireland

  • Number of Employees: 11-50

  • Funding Amount: €528,736 (EUR)

  • Last Funding Type: Grant

FoodCloud awarded €500,000 R&D grant from EI

Food Cloud has been awarded €500,000 in research and development funding from Enterprise Ireland.

Ocean Crest Marine 🌊

  • Headquarters: Galway, Galway, Ireland

  • Number of Employees: 11-50

  • Funding Amount: Not specified

  • Last Funding Type: Venture - Series Unknown

BGF Takes Minority Stake in Galway's Ocean Crest Marine

Growth capital investor BGF has announced a multi-million euro investment in Galway-based specialist marine plant hire business Ocean Crest Marine.

Tixserve 🎫

  • Headquarters: Kildare

  • Number of Employees: 11-50

  • Funding Amount: €316,923 (EUR)

  • Last Funding Type: Venture - Series Unknown

Michael Smurfit tops up stake in digital event ticketing start-up Tixserve

Tixserve, the digital event ticketing startup, has received a fresh injection of capital from Michael Smurfit.

Openvolt ⚡

  • Headquarters: Dublin

  • Number of Employees: 1-10

  • Funding Amount: €1,597,952 (EUR)

  • Last Funding Type: Pre-Seed

Irish startup Openvolt raises €1.5 million pre-seed to unlock access to energy data in Europe | EU-Startups

Dublin-based Openvolt, a company with a mission to enable new energy solutions by unlocking access to energy data, has raised a pre-seed round of €1.5

Kwayga 🤝

  • Headquarters: Cork

  • Number of Employees: 11-50

  • Funding Amount: €1,050,119 (EUR)

  • Last Funding Type: Seed

Cork firm Kwayga closes €1m funding round

Mike McGrath's firm said their mission is to revolutionise the way supermarkets across Europe approach buying

First Citizen Finance💰

  • Headquarters: Dublin

  • Number of Employees: 51-100

  • Funding Amount: €250,684,582 (EUR)

  • Last Funding Type: Debt Financing

First Citizen Finance raises €235m in securitisation to support car financing

Lender was set up in 2012 by former head of Permanent TSB Finance Chris Hanlon

Kayna 📊

  • Headquarters: Dublin

  • Number of Employees: 1-10

  • Funding Amount: €1,066,154 (EUR)

  • Last Funding Type: Pre-Seed

Delta Partners and MiddleGame Ventures invest €1M in Irish insurtech startup Kayna

Kayna, an Irish insurtech startup, raises €1M in Pre-Seed funding for expansion in the US and UK.

ePower 🔌

  • Headquarters: Cork

  • Number of Employees: 11-50

  • Funding Amount: €2,116,623 (EUR)

  • Last Funding Type: Seed

Cork’s ePower secures €2m to boost its EV charging tech

Cork-based ePower supplies, installs and manages various types of EV chargers and has raised €2m to develop its product offering further.

Modeliks 📈

  • Headquarters: Dublin

  • Number of Employees: 1-10

  • Funding Amount: €1,078,749 (EUR)

  • Last Funding Type: Pre-Seed

Modeliks Disrupts Business Planning for SMEs and Startups with revolutionary software

This funding enables Modeliks to expand its global presence by directly accessing business networks in the US, Europe, the Middle East, and Australasia.

GoPlugable 📈

  • Headquarters: Belfast

  • Number of Employees: 1-10

  • Funding Amount: £30,611 (GBP)

  • Last Funding Type: Grant

EV charging network startup GoPlugable named winner of INVENT 2023

Electric vehicle (EV) charging network startup, GoPlugable has been named the overall winner of the 2023 INVENT Awards, becoming the first Greentech winner of the competition in ten years.

Congratulations to these incredible Irish companies, we cant wait to watch them continue to grow!

Did we miss any funding announcements? Let us know 🤝

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