Dia duit, fabulous readers! Stephen's off on a well-deserved Japanese adventure, leaving me to temporarily hijack the newsletter—cue evil laugh. For those who don't know me, I'm Christopher—Stephen's slightly older and, dare I say, slightly better-looking brother. Now, enough about sibling rivalries; let's delve into a tale that unfolds right in the heart of your local supermarket's dairy aisle.

Picture this: the luminous allure of Kerrygold butter beckoning from the shelves of your local supermarket. Revered by the Irish for its unrivaled silkiness and creaminess, its popularity has grown on a global scale. Notably, this golden delight has found its way into the culinary escapades of none other than Oprah and Khloe Kardashian. Yes, you heard it right—Irish dairy farmers making waves in Hollywood. Who saw that coming? Next thing you know, they will be getting fan mail.

Yet, beyond the glitz and glamour, there's a more profound narrative at play within the Kerrygold story. The brand's ascendancy, intertwined with the Irish agri-food industry's success, has been nothing short of extraordinary in recent years.

Irish agri-food exports to the U.S. have had a remarkable 33% increase in the past year alone, winning the hearts and palates of American consumers. Kerrygold's high-quality products and clever advertising have been one of the driving forces behind this growth.

The mastermind behind Kerrygold is Ornua, a dairy co-operative and Ireland’s largest exporter of dairy products, exporting to 110 countries worldwide. Headquartered in Dublin, it has annualized sales of over €3.4 billion and a global team of 3,000 employees. In 2019, Kerrygold products hit a historic milestone and generated over €1 billion in global retail sales, a figure set to double soon. To keep up with demand, Ornua has invested astutely by expanding and ramping up production at Kerrygold Park in Cork.

The success of Kerrygold in the agri-food market stands as a testament to Ornua's vision and sublime execution. And of course, we can't forget the farmers, many of whom have been perfecting their craft for generations. As the journey continues, the focus on strategic growth and sustainability will be the key drivers for success in the years to come. All of us at DIA will be watching closely and want to wish new Ornua CEO Conor Galvin, the extended Ornua team, its member Co-ops, and all those amazing Irish dairy farmers the best of luck as they keep churning away and maintain the momentum.

This Weeks Dispatch 📖

We have some intresting stories from home and abroad:

• FairMoney Eyes Expansion in Kenya through Irish-Founded Umba Acquisition 🇰🇪🏦

• Waterford’s VROMO Tastes Success through Inspire Acquisition 🍔🚚

• Irish Rail and Dogpatch Labs forging partnership to redefine Ireland's rail landscape. 🚆🐕

Enjoy! ☕

FairMoney Eyes Expansion in Kenya through Irish-Founded Umba Acquisition 🏦

Digital banking giant FairMoney is reportedly in talks to acquire Umba, an Irish-founded prominent fintech in Kenya and Nigeria.

Founded in 2019 by Irishmen Tiernan Kennedy and Barry O'Mahony, Umba quickly gained traction in the fintech space with its mission to provide free bank accounts and financial services to customers in Kenya and Nigeria.

Umba, currently at the Series A stage with funding of €15 million, expanded its operations in 2023. The move facilitated entry into the Kenyan market, where CEO Tiernan Kennedy is based. The company offers a range of services, including no-fee current accounts, free payments, bill payments, and loans for its users. Notably, Umba has garnered millions of downloads from the Google Play Store, reflecting a strong user base and market presence.

Waterford’s VROMO Tastes Success through Inspire Acquisition 🚚

American restaurant giant Inspire has acquired Vromo, a leading hospitality tech company based in Waterford for an undisclosed sum. Inspire, the force behind renowned chains like Dunkin' Donuts and Baskin-Robbins, with 32,000 restaurants in 60 countries, plans to leverage Vromo's expertise to further enhance its delivery capabilities.

Vromo’s journey began in 2016 when Sean Murray and Alan Hickey launched WeBringg, a same-day delivery service powered by a network of crowdsourced drivers and cyclists. However, it was in 2019, under the leadership of CEO Brian Hickey, that Vromo emerged, shifting its focus to restaurant delivery software.

“We soon discovered that it was our software that was generating the demand,” shared Brian Hickey. The realization led to a strategic pivot, shutting down WeBringg to pave the way for Vromo's singular dedication to providing top-notch restaurant delivery solutions. Vromo went on to raise €6.8 million in 2021 to build the platform.

Vromo's specialised delivery management software caters to the unique needs of the restaurant industry. With features such as automated dispatching, real-time order tracking, and an innovative overflow system for third-party drivers.

Irish Rail and Dogpatch Labs Dogpatch Labs forging partnership to redefine Ireland's rail landscape. 🚆

Iarnród Éireann Irish Rail (Irish Rail) and Dogpatch Labs are forging a transformative partnership, set to redefine Ireland's rail landscape.

Introducing the "Future Track" program, a dynamic three-month initiative immersing Irish Rail teams in an entrepreneurial environment, guided by seasoned innovators at Dogpatch Labs.

Situated at the heart of Dublin's Digital Docklands, Dogpatch Labs is more than a startup hub; it's a dynamic force propelling Ireland’s startup ecosystem forward. Boasting over 250 startups and 500 Members, including notable alumni like Instagram, Intercom, and Twilio, Dogpatch Labs is a vibrant community fostering growth, knowledge-sharing, and meaningful connections.

With the audacious goal of reaching 80 million passengers by 2030 and reducing carbon emissions by 51%, Irish Rail is poised for significant transformation. The program will culminate in a 'demo day,' where teams pitch ideas to senior leadership.

It's invigorating to witness this partnership and the adoption of a startup mindset by large enterprises! 👏 As Steve Jobs wisely noted, "The best ideas have to win." Here's to a plethora of ingenious ideas and solutions propelling Irish Rail to new heights, while Dogpatch Labs continues to deliver on its exciting mission.

🧠 DIA Brain Food

Here is your quick serving of Digital Irish-related wins, trends, events, media and resources that we think you’ll enjoy digesting 🍽️:

🌎 Geopolitics expert Peter Zeihan gives his breakdown on Ireland's prospects, stressing the need for a new game plan. Check out the video here.

💰 Irish founded fintech giant Stripe valuation spikes to $65B Irish-founded fintech giant Stripe’s valuation spikes to $65 billion. The valuation represents a 30% increase compared to last year, but it is still lower than the $95 billion valuation achieved in March of 2021.

💿 Jamie Dornan, the County Down actor famous for his roles in TV series like The Fall and the Fifty Shades of Grey movie trilogy, recently featured on BBC's Desert Island Discs. In a conversation with presenter Lauren Laverne, he shared the eight music tracks he would choose if stranded on a desert island.

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