Case Study: KidSpotter supported by HBAN
Set up in 2006 by entrepreneurs Liam Darling and Andrew Dunne, KidSpotter is a company that develops child safety tracking systems and sells these to high footfall locations like theme parks, shopping malls and other venues with similarly high footfall. Using wireless technologies, the solution tracks children allowing parents to keep track of them and locate them quickly if they get lost. The company’s development to date has been supported by Dublin City Enterprise Board and Enterprise Ireland. www.kidspotter.com
In the beginning, like most start-up companies, KidSpotter was self funded in the early days. Realising that in order to take the business to the next stage of development they would require a further €400,000 investment, KidSpotter approached HBAN with a view to gaining their assistance to raise the capital required. HBAN introduced KidSpotter to a number of private investors that helped them to secure the €400,000 round they needed to advance the business. This round also included an investment from Enterprise Ireland.
Andrew Dunne, co-founder of KidSpotter said: “The impact of this round of funding has been immediate, allowing us to invest further in product .jpg)
development, sales and marketing.
“We are pursuing a range of commercial opportunities and intend bringing new products to market including child tracking technologies for everyday use. The HBAN Investor Syndicate also includes a number of individuals whose expertise and knowledge has brought an instant benefit to the business and we hope to draw on this in the future as we continue to grow.”
The KidSpotter gadget that is worn by children is styled on a wrist-band or watch. It monitors where a child is via GPS or Wireless signals, using the internet or a mobile phone. If a child encounters an emergency situation or wanders beyond a certain area, alerts are raised to qualified personnel. The KidSpotter products means that in the event of children wandering off or going missing, large footfall locations can help parents to locate their children immediately.
KidSpotter’s clients already include the globe’s second largest operator of theme parks, Merlin Entertainment which has deployed KidSpotter at Alton Towers and Chessington World of Adventures and Zoo in the UK. KidSpotter will shortly be deploying systems in the first of its USA sites.
Diane Roberts, National Director of HBAN Investor Syndicates said: “This is a very innovative Irish company with global opportunities in a market where it also has first mover advantage. The significant tranche of funding from members of our Technology Investment Syndicate will fuel the next stage of growth for KidSpotter.”
Margaret Hearty, InterTradeIreland Director of Business Programmes and Services said: “The increasing globalisation of markets gives the island of Ireland an advantage as an outward looking, knowledge based and technology intensive economy. KidSpotter is a great example of the type of company that we need to flourish to create jobs and sustain economic growth with exports of new products and services. Combined with a clearly defined international business development strategy, this funding will underpin future developments for KidSpotter. It also shows the benefits of syndicate based investing by private investors through the syndicates that are being established by HBAN.
