Cork-based technology start-up Zeto has secured an investment of €1.7 million, in a funding round led by Kernel Capital.
The investment was made through the Bank of Ireland Kernel Capital venture fund, with commitments from Business Venture Partners (BVP) and Enterprise Ireland.
The company has also landed a major commercial contract with Lidl Ireland. Established by father and son Michael and Stephen Slattery, Zeto develops and sells cloud-based software for the management of commercial refrigeration systems.
Zeto’s software has been deployed across Lidl’s 182 Irish stores, where it monitors 8,000 pieces of equipment and provides 2.25 million real time data points for the retailer each day.
Aoife Clarke of Lidl Ireland said the platform provides the most up to date technology to monitor temperatures and guarantee quality in the supply chain.
“It will enable us to safeguard stock in the event of issues with the refrigeration equipment and highlights inefficiencies that may become problematic in the future.”
Zeto chief executive Stephen Slattery said Lidl now have of the most comprehensive refrigeration management systems to be found in any supermarket chain globally.
“We remain on track to create in the region of 35 high value job in Cork over the next three years,” he added.
Founded in 2012, Zeto uses wireless sensor networks and cloud technologies to ensure refrigeration equipment is operating and maintained to the highest of standards.