Irish firm wins €800,000 funding

Trade

Plug n pay: Endeco has a better idea

Endeco, a developer of wireless energy management technologies, has won €800,000 in funding to drive the growth of its business.

The firm says its products can save retailers up to 25% on their energy costs by using wireless sensors and automated control of energy intensive electrical equipment such as refrigeration, lighting, heating and air conditioning in stores.

The firm, supported by South Dublin County Enterprise Board at its start up, plans to create 30 new jobs by 2012. It is seeking applications from sales and marketing staff with experience, ideally in software systems. It was founded in 2007 by CEO Michael Phelan.

The investment in Endeco was led by the €53 million AIB Seed Capital Fund, which is co-managed by Dublin BIC, the enterprise development organisation. Additional funding was raised through Enterprise Ireland and private investors.

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