Latest Irish start-ups to each secure €100,000 pre-seed investments from Growing Capital on top of a similar raise from Enterprise Ireland.
Irish start-ups Risso AI and Persuva AI have secured €100,000 each in Pre-Seed investments from Growing Capital.
This follows their successful applications to Enterprise Ireland’s Pre-Seed Start Fund (PSSF), where they also raised €100,000 each in investment.
“These start-ups share a remarkable dedication to innovation, resilience, and a deep understanding of market dynamics”
This brings the total Pre-Seed round to a total of €200,000 for each of these respective start-ups or a total of €400,000 between them.
Making AI a win-win
Risso AI utilises AI technology to monitor and report on noise pollution, addressing critical environmental concerns.
Persuva AI specialises in creating audience-specific ad copy across all funnel stages, from cold to hot leads.
Founded by Gianni Matera, Growing Capital is an early-stage investment firm specialising in supporting start-ups rooted in Ireland. Since 2015, Growing Capital has invested over €6 million in pre-seed and seed investments in 30+ companies, including Flipdish, Glofox, and Siren.
“Since the start of the Enterprise Ireland’s PSSF I have now completed investments in four pre-seed startups,” said Matera.
“These start-ups share a remarkable dedication to innovation, resilience, and a deep understanding of market dynamics. We’ve chosen to invest in these ventures not just for their promising ideas, but for the passionate teams driving them forward and their unwavering commitment to solving real-world problems.”
Reacting to the news of this latest funding for Risso AI, founder Luca Marchesotti said: “The financial supports we have now received from both Enterprise Ireland and Growing Capital are critical to validating and bringing our exciting product to market, progressing our business plans, while accelerating our growth and ambition to succeed in global markets.”
Enterprise Ireland’s Pre-Seed Start Fund (PSSF) provides start-ups with critical early-stage funding up to the value of €100,000 to test the market and progress their business plans for the global marketplace. The fund allows companies to progress key technical and commercial milestones required to attract future seed funding within six to 18 months.
Enterprise Ireland’s AnnaMarie Turley, Department Manager of Entrepreneurship and HPSU Operations, welcomes Growing Capital’s initiative to match fund the PSSF investment of €100,000, increasing the total pre-seed round to €200,000 for each of these companies.
“The Pre-Seed Start Fund, in conjunction with Enterprise Ireland’s broader range of services for start-ups, responds to current market needs and provides entrepreneurs with a financial offering to help accelerate their start-up business plans. The finance provided can then be ring fenced for critical requirements including product development, recruitment and developing channels to market. Matched funding of PSSF for early-stage start-ups by investment firms such as Growing Capital is a positive development and provides a great boost of support to pre-seed start-ups Risso AI and Persuva AI.”
Each of these start-ups were supported by Furthr, Ireland’s largest business innovation centre, throughout the funding journey to date, assisting them in preparing their successful Pre-Seed investment fund applications, business mentoring and engaging with both Enterprise Ireland and Growing Capital.
“Support from Furthr in particular, in getting us investor ready has been transformative, not just in the application process but in guiding how we structure the business to scale,” said Peter Horvath , CEO and founder at Persuva AI.
“This enabled us to secure both Enterprise Ireland and Growing Capital funding and has given us confidence that we were getting timely and accurate mentorship on our business growth approach.”
Julian Seymour, Head of Acceleration at Furthr, who worked closely with each of the start-ups in getting them investor-ready added: “Our acceleration team of consultants have worked intensively with these two companies in supporting their applications. We are delighted to see the successful outcomes of our work resulting in each of them raising €200,000. This is a real win-win for all.”
Main image at top: Gianni Matera, managing director at Growing Capital, Luca Marchesotti, founder of Risso AI, Peter Horvath, founder of Persuva AI and Julian Seymour, Head of Acceleration at Furthr
-
Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
