Dublin start-up Spire towered triumphantly over its rivals to win €30,000 in follow-on investment at the NDRC Investor Showcase.

The motor insurance start-up has developed a critical incident management system that is built in modules that can be expanded across the insurance claims handling sector. More than 330m roadside incidents and call-outs every year make the vehicle recovery market worth more than €7bn, but one that needs modern technology to optimise service delivery by small and medium operators.

“Spire is addressing a problem which we can see right now,” said NDRC CEO Ben Hurley.

“Everybody in the audience can see it. The hidden market was perhaps bigger than many of us thought at first, and it’s a market the founders know very well.

“Spire impressed the judges for a number of reasons, but some of those included its potential to scale, the fact that the barriers to market are quite high, and contract values are high and could go higher still. Also, although it’s addressing one problem now, the opportunity to automate this space means greater opportunities are possible.”

At NDRC’s final Investor Showcase of 2019, 10 companies pitched to a panel of investors in sectors ranging from productivity-improvement software to horse health sensors, each looking to secure next stage investment and continue their path to growth.

The judges on the day were Ben Hurley, CEO NDRC; Barry Brennan of CapF9; Edel Coen, Draper Esprit; Isabelle O’Keeffe, Sure Valley; Mike Brennan, Finch Capital; and Richard Watson, DBIC Ventures.

NDRC autumn/winter cohort 2019:

RideShair

RideShair is a software platform connecting passengers so they can share taxis to or from 3,000 airports globally. This greatly reduces passengers’ transaction costs and creates lucrative new revenue streams for our partners.

Equimetrics

The health of horses is more fragile than you think and, in this multi-billion industry, more than 200,000 horses die every year from colic alone. A health sensor developed by Equimetrics can identify and action key biometric data 24/7, year-round.

Opoplan

Opoplan is an automated platform for the design of new houses and produces personalised architect-quality designs that are delivered as immersive 3D experiences with construction-ready building information.

Spire

According to Spire more than 330m roadside incidents and call-outs every year make the vehicle recovery market worth more than €7bn, but one that needs modern technology to optimise the small and medium operators.

Head Diagnostics

Head Diagnostics’ device iTremor provides an objective concussion diagnosis in 10 seconds, radically improving the slow and subjective methods currently used.

Sproose

Professionals are currently working excessively long hours. They now value the little free-time they have more than ever. Sproose has already won more than 20,000 hours of that time back for them; and we’re just getting started.

FeelTect

FeelTect has developed Tight Alright – a connected health device that delivers gold-standard compression therapy, dramatically improving healing times and reducing treatment costs of venous leg ulcers, which affect 2.2 million people in the US & Europe each year.

Voxxify

Voxxify improves employees’ productivity and reduces wasteful IT spend by understanding their needs and those of CIOs in the largest global corporate companies.

DX Compliance

DX Compliance is protecting B2B Fintech companies against multibillion-dollar fines by reinventing how anti-money laundering is done.

MEG

With more than 40 customers, MEG is driving a culture of quality improvement in healthcare through a world-class quality management system.

Pictured (at top) is Ken Morgan, CEO and founder Spire with Ben Hurley, CEO of NDRC, and Kim McKayed, CTO of Spire. Image: Orla Murray/ SON Photo

Written by John Kennedy (john.kennedy3@boi.com)

Published: 18 December, 2019

Recommended