A Co Donegal start-up company has received a €30,000 investment after winning the NDRC Investor Showcase.
The Ardara insolvency software startup saw off nine high-quality businesses to win the event.
Cerebreon brings machine intelligence to the insolvency sector, increasing efficiency, reducing default levels and improving net margins for all stakeholders.
At NDRC’s Spring Investor Showcase 10 companies pitched to a panel of investors in sectors ranging from ticket software to high-end fashion sales, cybersecurity to location tagging, all looking to secure next stage investment and continue their path to growth.
The judges on the day were Ben Hurley, CEO NDRC; Nicola McClafferty, Draper Esprit; Sarita Johnson, Enterprise Ireland and David Bowles, Delta Partners.
NDRC builds and invests in digital startups, with 40% of the current cohort led by female founders. NDRC’s portfolio of companies include Tandem, SilverCloud Health, Newswhip, Boxever and Nuritas.
NDRC has a mandate from the State (Department of Communications, Climate Action and Environment) to make these investments; ensuring digital entrepreneurship is a vibrant and growing part of the Irish economy and helping position the country to compete internationally.
Ben Hurley, CEO NDRC said Cerebreon successfully portrayed its excellent solution to what it convincingly depicted as a global problem, standing out as the business with the most scalable opportunity.
“Although it took the judges some time to come to a decision, Cerebreon stood out as having serious potential for growth in international markets. This finishing investment will be coupled with further support from NDRC in areas including investor relations both here and abroad, helping to progress the business further.
“Throughout NDRC’s first decade of investing, the early stage efforts of entrepreneurs in Ireland have continued to deliver exciting investment propositions. We look forward to seeing this trend continue with future investments which will run later this year,” he added.