DCU spin-out Ambisense nets €3m growth equity investment
Summary
Founded by Stephen McNulty, Fiachra Collins and Dermot Diamond, Ambisense is an internet of things (IoT) start-up making next-generation sensor technologies for environmental monitoring. Combining IoT technologies and AI, a continuous flow of data gathered from Ambisense’s autonomous sensors is analysed and used to predict possible environmental hazards. Ambisense’s latest product is a device to monitor indoor air quality, which could see it being used to minimise the risk of spreading Covid-19 in enclosed spaces as the economy reopens. “Today, Ambisense customers are using our solutions to reduce environmental risks on major infrastructure and construction projects; to prove that workplaces, colleges, schools and healthcare settings are safe places to return to; and to automate a huge variety of labour-intensive, otherwise expensive monitoring and reporting compliance tasks.” McNulty added that the latest investment will enable the company to further develop its technology and enter new verticals with its products. “Ambisense’s technology has already attracted the attention of major infrastructure developers and their pipeline is extremely strong due to its ability to predict ventilation risks before they can cause harm,” said Barry Downes, Sure Valley Ventures managing partner.