Enterprise Ireland approved €3.5m for 18 start-ups in November

11 star-ups are part of Enterprise Ireland’s HPSU programme while seven received pre-seed funding.

18 start-ups supported by Enterprise Ireland were approved for a total investment of €3.5m just this November.

This include 11 start-ups that are a part of the government agency’s High Potential Start-Ups (HPSU) programme, receiving up to €400,000 in equity investment and seven start-ups that received funding of up to €100,000 under the Pre-Seed Start Fund (PSSF).

An HPSU is 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.

While the PSSF supports the early-stage needs of a new start-up with up to €100,000 in the form of a convertible loan note.

According to Enterprise Ireland, which invested €24m in start-ups in 2023, the PSSF is open to businesses in all sectors, with a focus on manufacturing, life sciences, food and renewables.

Jennifer Melia, Enterprise Ireland’s executive director said: “Many of the HPSUs we have approved so far this year have gone on to close with additional funding secured and matched by established and highly regarded VCs and angel investors. This instils a high level of confidence in the success of the start-up ecosystem 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.”

Here is the full list of the Enterprise Ireland-supported start-ups that received funding in November:

• Voicetune AI, speech-tech company converting text into “expressive” speech
• Blip Payments, an e-commerce solutions provider
• Craoi Theory, a wellbeing platform providing solutions to improve workplace mental and physical health
• ValueAI, a Technological University Dublin spin-out providing AI pricing solutions to small and medium enterprises
• Biota Mrv, which provides satellite telecommunications activities
• UnitMode, a marketing SaaS platform aimed at helping brands counter greenwashing
• FacePos, a facial-recognition payment solutions provider
• Waggi Connected Pets, which provides digital wearable solutions for pet care
• Isovasc Medical, a life sciences company developing solutions for interventional oncology
• Menopause Hub Academy, which is aimed at helping employers improve female talent retention
• Sunstone Technologies, a market intelligence company providing business optimising solutions
• Stormlands Mining, a corporate finance data analytics platform delivering valuations for the global mining sector
• Ride Today, which provides urban and sub-urban passenger land transport
• TrojanTrack, which provides biomechanical analysis for horse trainers
• Quiz Wizards, specialising in providing AI-powered fan engagement experiences

Earlier this year, UnitMode was among the four start-ups that received an award at the Phase 2 New Frontiers programme, which is aimed at accelerating early-stage businesses with employment, growth and potential. The start-up was named Most Likely to Scale.

While Loretta Dignam, the founder and CEO of Menopause Hub Academy, spoke to SiliconRepublic.com in the summer about the challenges she faced while navigating her experience with menopause. She said that she found the experience to be isolating, adding that it was treated as a secret and a taboo.

In 2021, the newly founded TrojanTrack made a splash, winning the Best Impact on Sport award at the inaugural SportX pre-accelerator.

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