5 international deals bagged by Irish tech start-upsVish Gainon February 17, 2022 at 15:45 Silicon RepublicSilicon Republic

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It’s been a busy week for Irish start-ups and early-stage companies. Here we look at some of the many deals that companies based in Ireland have entered into, ranging from collaboration with big banks and payment platforms, to international product launches and efforts to stop global human trafficking.

Circuit

Circuit, an Irish start-up which has developed a platform for managing financial auditing used by banks, solicitors and brokers, signed a deal earlier this week with Danske Bank UK, which will integrate the platform with the bank’s audit confirmation response operations.

The deal will help streamline communication of data between Danske Bank and hundreds of auditing and professional firms that rely on Circuit to verify client assets and liabilities at banks around the world.

Founded in 2017, Circuit is regulated by the Central Bank of Ireland as an account information service provider under PSD2, the EU regulation that makes open banking and the integration of data across financial services firms possible. It raised €1.1m in a funding round in July 2020.

Ding

Dublin-based mobile top-up provider Ding, which sends more than 5m top-ups in 150 countries every month, has teamed up with payments platform Ayden to simplify its top-up process and improve card authorisation rates.

Ayden, based in the Netherlands, will help Ding manage its diverse international transactions and add new alternative ways to pay, such as mobile wallets, which is expected to appeal to the company’s international customers.

In September, Ding sold a majority stake to private equity firm Pollen Street Capital, reportedly for more than $300m.

Metabolomics Diagnostics

Irish biotech start-up Metabolomics Diagnostics announced this week that it is preparing for a US launch of its pre-eclampsia test after signing a deal with San Francisco company Renegade.bio.

Pre-eclampsia is a condition in pregnant women that can cause premature birth, lifelong complications for mother and baby, or even infant and maternal mortality.

The field of metabolomics, after which the start-up is named, involves studying the chemical processes of small molecules involved in metabolism, and its test is the result of significant research into metabolomic biomarkers.

Sitenna

Sitenna, one of the five Irish start-ups selected for Y Combinator last year, has been selected by four government-backed projects in the UK to accelerate the roll-out of wireless connectivity infrastructure, including 5G.

The projects are funded by the UK’s department of communications, media and sport and will promote the use of publicly-owned real estate assets.

Founded in 2020, Sitenna provides software for telecom companies to help them connect with real estate owners and find suitable sites for building towers and antennae – speeding up deployment from 24 months to as quick as six months while also reducing costs.

Siren

Galway-based investigative intelligence platform Siren announced its partnership with the Anti-Human Trafficking Intelligence Initiative (ATII) to help fight and raise awareness about human trafficking globally.

Siren said it will provide its dark web investigative intelligence platform to ATII so that the US-based non-profit can use its data analytics offerings to identify traffickers for free. A prime focus for ATII is child abuse material, which it said amounts to approximately 30pc of dark web investigations.

In 2019, Siren teamed up with US-based Praescient Analytics to access new opportunities in the US federal space. Months later, it raised $10m in a funding round backed by Enterprise Ireland, Atlantic Bridge and DVI Equity Partners.

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