Céad míle fáilte!

Loyalty used to be about knowing the name of your local barista, but thanks to the innovative Irish startup SQUID, it’s now something you can manage and invest in!

With over 550,000 users and nearly 2,000 businesses already on board and taking the coveted number #1 spot on Ireland's top app charts, I’m not the only fan of what co-founders Katie Farrell and Matthew Coffey have created.

I jumped at the chance to support them during their €1.35 million crowdfunding aimed at taking their digital loyalty platform global. That means I can update my LinkedIn to investor, right?

And the excitement doesn’t stop there in this week’s edition! The global Irish tech and business scene is buzzing with remarkable developments.

Here’s the rundown of this week’s Irish Insights dispatch:

• $500M Quantum Leap – A game-changing partnership deal with Horizon 🇸🇬

• Rapid-Charge Breakthrough – Irish startup’s technology steals the show at CES 🇺🇸

• Formula for Success – Laura Modi garners global accolades 🌍

• Fintech Power Play – Wayflyer and GridBeyond making waves 🇺🇸

• We cover 4 Irish-affiliated startups that raised a cool €26M in funding. 🚀

• And impress your friends with the latest Irish Insights brain food. 🧠

Enjoy ☕️

Horizon Quantum Computing valued at $500m in partnership deal 🇸🇬

Irish-founded, Singapore-based Horizon Quantum Computing has reached a valuation of $500 million through a strategic partnership with dMY Squared Technology Group. This collaboration sets the stage for Horizon to become publicly traded.

Founded in 2018 by Dr. Joe Fitzsimons, Horizon specialises in developing software tools that bridge the gap between quantum hardware and practical applications. The company has a team of 22 employees and has secured approximately $21.3 million in funding, including an $18.1 million Series A round in March 2023.

Dr. Fitzsimons, who will continue to lead the company as CEO, emphasises the pivotal role of software in unlocking quantum computing's potential. As he noted in a recent interview, "You can think of us as following Microsoft's path with personal computers". This analogy highlights Horizon's ambition to make quantum computing accessible and user-friendly, much like Microsoft did for personal computers.

The SPAC agreement is expected to be finalised by the end of 2025, pending regulatory approvals. As quantum computing emerges as a key technology frontier, Horizon is positioning itself to be a major player in this transformative landscape, making cutting-edge innovations more accessible to all.

Irish Start-up That Charges Your Phone in Seconds Turns Heads at CES 2025 🇺🇸

Imagine this: in just two seconds, a dead phone battery can be instantly swapped out for a fully charged one!

Although it’s been a month since CES 2025 in Las Vegas, we’re still buzzing about one remarkable breakthrough: Swippitt, the Irish start-up shaking up the world of phone charging. Founded by Padraic Connolly, a former barman turned tech visionary, Swippitt has introduced an astonishing way to keep our devices powered. 

🪛 How It Works

Enter the Swippitt Hub—a sleek, toaster-sized device for five rechargeable batteries. Slide your phone in a Swippitt Link case into the hub, and voilà! Your drained battery is replaced with a fresh one, providing a quick 70% charge—no fumbling with cables or irritating waiting, just instant power at your fingertips.

📈 CES Success & Future Growth

Swippitt made a splash at CES 2025, earning its spot on multiple “Top 10 Best Innovations” lists and capturing the attention of global investors.

They're actively seeking commercial partnerships that could see Swippitt hubs popping up in homes, offices, cafes, and hotels around the globe. Check out this fantastic video clip featuring Adrian Weckler, tech editor of the Independent and host of the Big Tech Show podcast:

🌱 Sustainability & The Road Ahead

Swippitt is also committed to sustainability with its innovative battery recycling program. This initiative prevents dead batteries from languishing in landfills by allowing them to be returned and exchanged, reducing electronic waste and promoting a circular economy for mobile energy needs.

Looking ahead, Swippitt’s vision could reach far beyond smartphones. The company is exploring groundbreaking applications for wearables, laptops, and even electric scooters, aiming to transform how we store and share energy. The only question remains: How soon will we see Swippitt hubs everywhere?

Formula for Success – Laura Modi garners global accolades 🌍

Laura Modi never imagined she would lead a revolution in infant formula in the U.S. However, as an Irish entrepreneur and mother of four, she identified a significant market gap—parents looking for a trustworthy, clean, organic, European-style formula.

In 2021, she co-founded Bobbie to address this demand, and within just 18 months, the company exceeded $100 million in revenue.

Bobbie is more than just a brand; it’s a movement. Modi has made it her mission to challenge outdated industry norms and push for change. Through Bobbie for Change, the company has championed parental leave, provided free formula to mothers who’ve undergone mastectomies, and advocated for policies to strengthen U.S. formula production—helping prevent crises like the 2022 shortage.

Her leadership hasn’t gone unnoticed. Recently named one of Time Magazine’s Women of the Year, Modi joins a lineup of influential figures, including Nicole Kidman and Naomi Osaka. But for her, the recognition isn’t about personal success—it’s about proving that businesses can thrive while making a real impact.

Bobbie’s bold messaging also challenges feeding stigmas celebrates all feeding journeys. “It’s about giving parents the freedom to choose—without guilt,” Modi says.

Fintech Power Play – Wayflyer and GridBeyond make waves in the US market 🇺🇸

Irish fintech powerhouses Wayflyer and GridBeyond are doing what Boyzone and Westlife could never quite achieve. Breaking into America.

Wayflyer, recognised as Ireland's fastest-growing tech company for 2024, has just pulled off its second major acquisition by bringing MadeMeBuyIt, a dynamic US-based inventory marketplace, into the fold.

Led by the CEO Aidan Corbett, Wayflyer is on an ambitious mission to expand its e-commerce financing services globally, strongly emphasising making a mark in the US market.

On another front, GridBeyond, the innovative smart energy company headed by Michael Phelan, has landed its most significant contract yet! This landmark deal involves optimising a massive 200MW storage system in California, paving the way for the company's exciting expansion into the US energy sector.

Here is our snapshot of two Irish startups that are truly making their mark on global innovation:

💰 That money was just resting in my account…

A massive congratulations to the Irish-affiliated businesses that have achieved an impressive total of €26M in recent fundraising victories 🥂

🛡️ VRAI (Co-Founder: Pat O'Connor) secures €5M Series A for dual-use defence tech, specializing in data-driven VR training solutions for high-risk environments. The investment led by Beringea will accelerate VRAI's growth in the US market.

🌊 Subsea Micropiles (Founder: Derek Robertson), a Dublin-based company producing eco-friendly foundations for offshore operators, raises £9.2M (€11.15M) to expand operations in Scotland.

🏭 Keychain (Co-Founders: Oisin Hanrahan, Umang Dua), an AI-powered US based consumer packaged goods (CPG) manufacturing platform, secures $5M additional funding led by Bright Pixel Capital, bringing total funding to $38M.

🔒 Lockchain.ai, (Co-founders Aidan Kehoe, Andrew Howard), raises $5M to expand its AI-powered blockchain risk platform. Kehoe previously sold his company in a $30M deal.

🧠 Brain Food

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

🏦 Bank of Ireland CEO Myles O’Grady discusses Ireland’s economic outlook, housing demand, and the impact of Trump’s trade policies in CNBC interview. WATCH HERE

📉 Angel Investor Tax Break Finally Launches – But Concerns Remain in the long-delayed tax relief. READ HERE

🧠 Dr. Kangwook Lee dissects the controversial DeepSeek reasoning model that’s dividing the tech community. READ HERE

🎥 Twenty years ago, three former PayPal employees launched YouTube.com, originally intended as a dating website with the slogan "Tune In, Hook Up." READ HERE

💳 ‘I think that’s hogwash’ – Stripe’s John Collison dismisses idea public firms are more disciplined READ HERE

⚡ Ireland ‘Must Go Nuclear’ to Lead in AI - A push for nuclear energy adoption to power AI ambitions and accelerate energy grid expansion. READ HERE

🌍 Tech & Policy Trends Shaping Ireland The IIEA examines emerging technologies and policies that will influence Ireland’s future. READ HERE

🏢 The IDA outlines key incentives and tariff updates in its latest investment roadmap. READ HERE

🎨 National Gallery’s €125,000 Scanner Still Unused After 8 Years—prompting Arts Minister to call it a "huge embarrassment." READ HERE

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