NDRC-backed ventures secure €50m in 2017
7 February 2018 | 0
NDRC-backed start-ps secured more than €50 million in follow-on investments across a series of major deals made throughout the 12 months. Some of the companies who made headlines with their announcements included Nuritas, Plynk and Tandem HR.
Having invested in 28 new companies during 2017, the number of companies invested in by NDRC has now exceeded the 250 mark since its foundation in 2007.
2017 also saw the completion of NDRC’s first regional accelerator in Galway, with graduate company Appraisee the first winner of an NDRC at PorterShed programme, which will run again in 2018.
End year 2017 also saw the launch of NDRC’s second regional accelerator at ArcLabs, Waterford. Recruitment of start-ups is underway for this programme with places available for up to 10 new ventures.
Both regional accelerators are supported by Enterprise Ireland.
NDRC supported almost 80 ventures in 2017 when its pre-commercialisation and pre-acceleration programmes are taken into account.
NDRC CEO Ben Hurley said: “The series of funding announcements made by NDRC companies in 2017 shows just how innovative and hard-working our start-ups are proving to be. NDRC’s role, funded by the Dept of Communications, Climate Action & Environment, as part of its digital strategy, is based on the recognition that, with the right selection, focus and acceleration, Irish digital entrepreneurs can be attractive propositions for investors both at home and abroad.
“NDRC’s offering of capital investment and specialist expertise in the nascent stages of Irish start-ups is what makes the organisation so effective. To see Seed funding increasing to such a degree amongst our portfolio is one thing, but the Series A successes by Irish start-ups is proof that our companies are maturing and attracting some of the biggest investors in the world.”