Kernel Capital through the Bank of Ireland Kernel Capital Venture Funds have led a €1.7 million investment in Zeto, a Cork-based technology firm established by father and son team, Michael and Stephen Slattery.
The firm develops and sells cloud-based software for wireless management of commercial refrigeration systems. Following this funding round the company secured a major commercial contract with Lidl Ireland to deploy its software across the chain’s 182 Irish stores, where it monitors 8,000 pieces of equipment and provides 2.25 million real time data points each day.
Stephen Slattery, CEO Zeto, said: “We are delighted to have received this round of investment and combined with Lidl’s forward thinking it has presented Zeto with a great opportunity. Lidl, through Zeto, have now installed one of the most comprehensive refrigeration management systems to be found in any supermarket chain, globally.
“The Bank of Ireland Seed & Early Stage Equity Fund and all our investors have been hugely supportive over the last number of years. With their help, and with clients of the calibre of Lidl we remain on track to create in the region of 35 high value job in Cork over the next three years.”
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