Irish start-ups continue to win venture capital funds
INVESTMENT group Delta Partners has been busy of late providing venture capital funding to a variety of young Irish businesses.
The latest of these is Boxever, a new cloud-based IT company in Dublin that enables airlines and travel companies to gather and analyse customer data in real-time and increase their revenues by personalising their marketing and merchandising to passengers.
Delta, along with angel investor Bloom Equity and Enterprise Ireland, has invested €800,000 in Boxever.
Its co-founder David O’Flanagan told me this week that it will enable Boxever to create 22 jobs over the next three years in sales and marketing, and research and development.
“It’s a big milestone for the company and a validation for us,” O’Flanagan said. Boxever has also signed up its first customer – Nordic airline Atlantic Airways.
“It’s a great win for us and will help us in our conversations with other airlines. We believe we’ll have another two customers signed up by the end of this year,” he added.
According to O’Flanagan, Boxever offers a more cost-effective solution for airlines than previously available.
“There are no long, expensive hardware and software procurement cycles, no consultants and no customisation – just a monthly fee for a solution that delivers value immediately,” he said.
The company was founded last year by O’Flanagan, Alan Giles and Dermot O’Connor and employs six staff at its office on Barrow Street in Dublin and in Norway.
Boxever is one of 12 investments made by Delta Partners in the past year and follows recent funding for WhatClinic.comand Cloudium Systems.