PaidAde wins offer of €30,000 in follow-on investment from NDRC at ArcLabs; Second-placed Herdsy wins offer of €20,000. PaidAde connects building trade contractors to suppliers, while Herdsy automates and analyses farm animal data. NDRC will return to the South East for a similar investment accelerator in 2019.
PaidAde (https://paidade.com/) impressed the judges during the NDRC at ArcLabs Investor Showcase this afternoon (26 July), with the construction industry startup emerging from nine high-quality businesses to win the event and, with that, an investment offer of €30,000 in follow-on investment.
PaidAde connects building trade contractors to suppliers. PaidAde’s app streamlines a contractor’s business while the startup’s marketplace offers suppliers an opportunity to be in front of their ideal customers at the key time in their buying process.
Herdsy was a surprise second startup to secure an offer of investment, with €20,000 available to the South East-based agritech business.
Herdsy takes the guesswork out of livestock farming, automating and analysing farm animal data and converting it into valuable profit decisions for farmers.
Both PaidAde and Herdsy stood out as having serious potential for growth in international markets- Ben Hurley, CEO of NDRC
At NDRC at ArcLabs Investor Showcase, nine companies pitched to a panel of investors in sectors ranging from retail software to e-sports, property technology to events planning, all looking to secure next stage investment and continue their path to growth.
The judges on the day were Ben Hurley, CEO NDRC; Sarita Johnson, Enterprise Ireland; Cormac Coade, SEBAN; Finn Murphy, Frontline Ventures; and Niamh Sterling, HBAN.
Ben Hurley, CEO NDRC said: “Of our first cohort in ArcLabs, PaidAde shone brightest after suitably describing a fine solution to what is, quite clearly, a global problem. However Herdsy also made an impact on the judges as a very innovative solution to a pressing need in agriculture, and that is why we produced a second offer of investment to that startup.
“This is never an easy decision for the team of judges, with this cohort displaying a strong level of industry expertise and opportunity for growth.
“However, despite the equal nature of the pitches, both PaidAde and Herdsy stood out as having serious potential for growth in international markets. This finishing investment will be coupled with further, integral support from NDRC in areas including investor relations both here and abroad, helping to progress the businesses further.
“Throughout NDRC’s first decade of investing, the early stage efforts of entrepreneurs in Ireland have continued to deliver exciting investment propositions. With similar acceleration activities running throughout Ireland in the second half of 2018, we look forward to seeing this trend continue.”
NDRC builds and invests in digital startups, with NDRC at ArcLabs being the organisation’s second regional cohort of investees to date, following NDRC at PorterShed in Galway in 2017. NDRC’s portfolio of companies, which includes more than 250 startups, achieved a market capitalisation of €486 million to end 2017, according to the organisation’s annual report, published this month. This is a rise of almost 14 per cent on 2016.
Across NDRC’s startups, approximately 1,000 people are employed directly. Of these, 20 per cent are based abroad, reflecting the globally scalable focus NDRC has on its investments. NDRC’s portfolio of companies include Tandem, SilverCloud Health, Newswhip, Boxever, Nuritas and iCabbi.
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.
Please find below information on the nine startups that took part in today’s NDRC at ArcLabs Investor Showcase:
PaidAde connects building trade contractors to suppliers. Our app streamlines a contractor’s business while our marketplace offers suppliers an opportunity to be in front of their ideal customers at the key time in their buying process.
Blucoup is a proximity marketing company that drives additional sales for retailers. Blucoup collects valuable proximity data that enables retailers to target consumers with personalised marketing messages as they come into physical proximity of their store.
Property Bridges is a peer-to-peer platform for the construction industry. We use technology to connect investors directly with experienced property developers, providing them a major source of non-bank finance. Investors gain access to attractive real estate investments.
Kraken Analytics is an AI tool for e-commerce brands. Kraken empowers marketing teams to understand how data points across marketing channels are causing and effecting, transforming big data into evidence-based recommendations.
Recruitment is complicated, expensive and time consuming. Referral.Works is changing the way the world recruits by making employee referrals more rewarding, engaging and simple to get great talent.
Herdsy takes the guesswork out of livestock farming. Herdsy automates and analyses farm animal data and converts it into valuable profit decisions for farmers.
Sipario is a B2B platform that redefines how performing artists are sourced and booked by venues globally. Sipario allows venues to automate the entire booking process. This not only saves them resources, but augments the quality of acts and venue revenue.
Live sport is on a dying medium and is urgently moving to an ‘over the top’ (OTT) streaming model. Matchday creates middleware that lets fans interact with live sports in a way that has never been possible before.
TurnedSee makes the venue research and booking process effective for all players in the MICE industry. We put the right properties in front of the right corporate event planners at the right time, becoming a hugely powerful marketing tool for hotels.
NDRC sources and builds digital start-ups to invest in and work with, providing them with an integrated offering of a modest amount of capital, knowledge, experience and expertise and enabling them to become market ready faster, more successfully and more efficiently than otherwise. With a mandate from the Department of Communications, Climate Action and Environment, NDRC aims to ensure digital entrepreneurship is a growing and vibrant part of the economy.