HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, today announces that investors in its WxNW Syndicate along with Enterprise Ireland have invested €650,000 in Ronspot Solutions. HBAN angel investors have contributed €400,000 to this funding round, while Enterprise Ireland has invested €250,000. Angels from HBAN’s Dublin, London and Singapore groups have also invested.
HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, today announces that investors in its South East Business Angel Network (SEBAN), along with Enterprise Ireland have invested €570,000 in fintech startup Loanitt. The company has already grown staff numbers to 15 people in less than 12 months, with plans to target a headcount of 40 people by year-end 2021. SEBAN angel investors have contributed €270,000 to this funding round, while Enterprise Ireland has invested an additional €300,000.
FoodMarble has developed the world’s first personal digestive tracker, helping users to control food intolerances
Funding to be used for R&D and to support expansion into the US and Canada, where the company has deals with Best Buy and Amazon
Company achieved €1M in sales in 2019, its first year of sales, and predicts sales of €4M by year-end 2021
Funding follows €160K HBAN angel investment last year
A Northern Ireland start-up which appeared on TV’s Dragons’ Den earlier this year has successfully closed a £350,000 funding round with local business angels to bring its innovative new insulated cable clip to market.
Gray’s Clip, run by Lisburn-based co-founders Davy and Julie Gray, secured £250,000 of investment from a group of nine private investors through the Halo Business Angel Network (HBAN) and a further £100,000 from Co-Fund NI, part of Invest Northern Ireland’s Access to Finance portfolio.
The company’s product, ViperClip, is a fully insulated cable clip which works with its specially designed battery powered stapler to secure 110v to 240v electrical cables to wooden joists and structures. Both of these products were created and designed by electrician Davy, who knew there was a need for a faster, easier and safer way to secure electrical cables to joists without having to hammer in individual clips.
Davy and Julie appeared on the BBC’s popular Dragons’ Den show in March this year and received offers of investment from four of the Dragons, initially accepting an offer from Deborah Meaden.
Economic impact of COVID-19 leading to investments in early-stage businesses being delayed, stalled or abandoned
In order to stimulate growth and employment, HBAN proposes temporarily increasing EII tax relief to 60%
HBAN’S proposal to Dept of Finance also calls for annual amount eligible for tax relief to be increased from €250k to €1m
Angel network argues current administration of EII Scheme is not fit for purpose and proposes significant changes in order to incentivise investments
Some investors still waiting for tax certificates two years after application
HBAN (Halo Business Angel Network), has announced that the last 12 months has seen HBAN angels celebrate exits of up to 10X their initial investments. Since August 2019, Irish start-ups Finovation, Decawave, Payslip and Iconic Translation Machines have provided investors with an opportunity to make significant returns on their investments.
All-Island HBAN Director John Phelan joined Newstalk Business Breakfast Monday June 22nd to discuss how HBAN has adapted to continue pitching throughout COVID-19. He also offered important insights and advice for Irish start-ups and discussed HBAN's plans for the future.
If you‘re a high potential Start Up that has a new innovative product or service ready for commercialisation and/or have achieved some early traction and are raising finance to scale internationally please contact us.