AmbiSense, a Dublin City University spin-out based at the DCU Alpha campus which focused on developing next generation sensor technologies for the environmental monitoring sector, has secured investment of €1 million to scale up and expand overseas.
The financing round was led by Atlantic Bridge’s University Bridge Fund with support from existing investors including Enterprise Ireland. Operating in the internet of things (IoT) sector, AmbiSense makes smart solar-powered gas monitoring instruments and networks. The company released its first product last October.
Gasflux is an online ground gas risk assessment platform for the land remediatioh, oil and gas, and waste management sectors.
“We want to fill the gap in the market for an IoT provider focused on the environmental market That’s really what it’s all about,” said AmbiSense chief executive Stephen McNulty. “Half of the funding will be used to scale up the commercial side of the business, particularly in Britain, so we’re looking to hire five or six people. The other half will go towards product development.”
An Enterprise Ireland high potential start-up, it evolved from an Environmental Protection Agency-funded Strive project begun at DCU in 2008. The company is recruiting for five positions currently and plans to develop further I.o.T. monitoring products to gauge air and water quality.
“Methane and dangerous vapours can be generated by waste or oil and gas processes and that’s where Gasflux comes in,” said McNulty
“The technology is used as a risk assessment tool on-site. It allows our customers, who are environmental consultants, to put in place reasonable measures to allow projects to continue. Other areas where the technology could be useful in terms of cutting man hours on site would be in monitoring air and water quality.”
The Atlantic Bridge University Bridge Fund is a €60 million commercialisation fund for research-led start-ups. Atlantic Bridge partner Chris Horn is joining the AmbiSense board as a non-executive director.
“The company strongly represents the commercial strength of world-class academic research undertaken in Ireland,” Horn said.