KIDSPOTTER, WHICH develops child-tracking systems and sells them to high-traffic venues such as theme parks and shopping centres, has secured €400,000 in funding from Enterprise Ireland and a syndicate of angel investors.
The syndicate of investors was put together by the Halo Business Angel Network, a joint initiative of InterTradeIreland and Enterprise Ireland, which brings together private investors to support early-stage companies.
Although founded in 2006, Kidspotter founder Liam Darling said the new investment had made an “astonishing” difference to the company already and would enable it to accelerate its product development and entry to the US market.
Kidspotter has developed a tamper-proof bracelet device which can be worn by children in a crowded but confined environment like an amusement park. If the child wanders away, they can be quickly located using GPS and wireless technologies. The Dublin firm has also developed the software which allows the venue owner to track the children or be informed if someone tampers with the bracelet.
Merlin Entertainment, the second largest operator of theme parks in the world, has trialled Kidspotter at Alton Towers and Chessington World of Adventures in Britain. Mr Darling said the company had sought angel investors rather than venture capital because the amount of money they needed was probably too small for an institutional investor. He said the angel investors, who accounted for €200,000 of the funding, also had more time to assist with a start-up venture.
Including Kidspotter, the Halo network has invested over €1 million in Irish companies during the third quarter.
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