Suir Valley Ventures, the entrepreneur-led venture capital fund launched in partnership with Shard Capital Partners LLP to invest in early stage software companies across a range of high-tech verticals, is pleased to announce its participation alongside Atlantic Bridge, in a €1.1 million investment round for Ambisense Ltd based at DCU Alpha, the Internet of Things (IoT) and Artificial Intelligence (AI) environmental analytics company. The round was also supported by Enterprise Ireland and a number of private investors.
Invested as part of €1.1 million investment round led by Atlantic Bridge, Ambisense’s Ambilytics™ platform optimises the delivery of environmental risk assessment on some of the world’s largest infrastructure & industrial projects Tailored service encompasses IoT and AI solutions Suir Valley Ventures Managing Partner, Barry Downes, said, “We are delighted to support Ambisense in this fundraise as it looks to build on its position as a leading innovator within the environmental space. Its technology stack, encompassing both IoT and AI, is increasingly a necessity for infrastructure and industrial clients worldwide, which is why it can boast a rapidly growing international client base. This is an exciting time for Ambisense and we look forward to being part of its journey.”
Ambisense CEO, Stephen McNulty, said, “We are delighted to have secured the support of Suir Valley as we look to continue our mission to optimise environmental risk assessment. The Suir Valley team has significant experience founding, funding and growing a number of highly innovative successful businesses; we are keen to onboard and utilise this to help us grow Ambisense into a globally recognised company, using technology to solve the world’s most pressing environmental problems. We are also grateful for the ongoing support of our existing investors, including Enterprise Ireland who have supported the business from day one and been instrumental in our success to date.”
University Bridge Fund Partner, Dr Chris Horn, said, “Atlantic Bridge is very pleased to have Suir Valley Ventures join us to add further momentum to Ambisense’s emerging leadership in environmental management and risk assessment. The Green Agenda is now mainstream, and combines financial opportunity with critical benefits to society and to the economy at large. Suir Valley is not only bringing investment capital but also valuable industry contacts to add to our own global network of partners.”
Founded in 2014, Ambisense’s Ambilytics™ platform optimises the delivery of environmental risk
assessment on some of the world’s largest infrastructure projects across industrial, Oil & Gas and Waste Management verticals, partnering with global multinationals such as CEMEX, SGS & Arcadis. Ambilytics™ encompasses both IoT and AI solutions, combining information from remotely deployed field devices with contextual data sources such as weather, satellite, geophysical and operational data to build machine learning models. These models identify the relationships, patterns, and drivers hidden within the data and allow customers to forecast and predict the behaviour of targeted environmental pollutants.It is estimated that the costs of climate change will stand at $500bn annually by the end of the 21 st century. To meet the growing demand for cost-effective bespoke applications to mitigate this and other types of environmental risks, Ambisense has developed a toolkit to enable customers to build fully customisable, web-enabled instruments to acquire and analyse the data required quickly and cost-effectively. Each element can be tailored to different needs whether a client wants to measure gas, air or water quality or anything in between. Ultimately, it can help to:
Reduce monitoring costs by minimising time to site
Obtain live and continuous information from remote sites
Continuously monitor and troubleshoot problem locations
Understand and minimise environmental risk
Build useful datasets quickly and cost effectively to analyse problems
Build predictive models for environmental processes
Ambisense began life as an Irish EPA STRIVE funded project developed in the National Centre for Sensor Research (NCSR) in Dublin City University, one of the largest and most successful research institutions of its kind in the world with annual income of €100M and 250 multi-disciplinary researchers working on novel sensing techniques for a variety of applications.