UtilityAR Raises €600,000 Seed Funding

02 Dec 2019 | 10.38 am

UtilityAR Raises €600,000 Seed Funding

Angel investors and EI backing the Dublin software startup

02 Dec 2019 | 10.38 am

Dublin-based software startup UtilityAR has raised seed funding of €600,000. The fundraiser included €450,000 from BVP and HBAN angel investors, as well as €150,000 from Enterprise Ireland.

Founded in 2017 by Patrick Liddy, Seadna Smallwood and Aidan McDonnell, UtilityAR allows technicians and engineers to view real-time information via augmented reality (AR) glasses. The company’s clients include utility and manufacturing businesses, among them Gas Networks Ireland and CIX. Clients are also located in the UK, Netherlands, Belgium and Israel.

Enterprise Ireland invested €25,000 in UtilityAR in 2018 and the company also received a €366,000 investment the same year from Link CTI Limited.

Liddy and McDonnell previously founded Activation Energy, which developed demand response software and was acquired by US company EnerNoc in 2014.

Liddy said that the €600,000 fundraiser will allow UtilityAR to refine its product and offerings. Elliott Griffin, director of BVP, added that the investment company was delighted to work with Liddy and McDonnell again, following the success of Activation Energy.

UtilityAR employs a team of six at its base in the Greenway Hub in Grangegorman. The company’s AR-boosted glasses and camera can allow users to set up remote evaluations, real-time data access and condition surveying.

 

 

 

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