Jan 20, 2021 | SustainIQ

Belfast tech firm SustainIQ wins six-figure investment fund

A Northern Ireland tech company has secured a six-figure investment from Halo Business Angel Network (HBAN).

The company, founded by Maria Diffley and Liam McEvoy, will use the new investment to expand its presence in the UK and Irish markets.

SustainIQ has developed a software tool that helps organisations to monitor, measure and report on their social, economic and environmental impacts across the whole organisation.

The tool helps capture data and analyse impact in one place, providing insights that help customers make decisions to maximise the impact of their sustainability initiatives.

Following a successful pitch, a syndicate of four HBAN business angels have joined forces to make a six-figure investment in SustainIQ, with match funding secured from Co-Fund NI.

HBAN is a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, dedicated to the all-island promotion of business angel investment.

HBAN allows companies from a wide range of sectors to pitch to angel investors for funding. Currently, there are over 100 registered members in the HBAN Ulster network and an all-island network of hundreds of angel investors

Co-Fund NI is part of Invest NI’s Access to Finance portfolio and part funded by European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.

Despite only being formed in 2018, SustainIQ is already working with a number of long-established companies in the construction, transport and FMCG sectors, including Belfast Harbour, Gilbert Ash, SHS Group, and Heron Brothers.

The company’s software is being used in 500 sites in the UK and Ireland by organisations who see sustainability as a strategic advantage for the future, including the new Belfast Transport Hub currently being developed by Translink at Weavers Cross.

Liam McEvoy at SustainIQ said: “Sustainability is now a key consideration for companies in all sectors and an area that more and more organisations are investing in, not just for compliance but also to help win contracts, raise finance and attract talent. But it can be difficult to know what is working and where resources should be allocated, particularly if you have lots of staff and multiple sites.

“Our software helps companies to capture data and use it intelligently to add real value to their business.

“We are really excited about where the business has got to and the support we’ve received from our investors through HBAN and Co-Fund NI, alongside the credibility we have already built up, will be crucial in helping us to scale up the team and grow revenues.”

Jim Curran, Partner at Clarendon Fund Managers, added: “SustainIQ’s unique offering has the potential to bring sustainable insights and solutions to companies through-out the UK and Ireland, which has already resonated with many high calibre companies who have become customers.

“We’re pleased that, through the HBAN network, we have been able to connect SustainIQ to supportive investors with the knowledge and entrepreneurial experience to take the business to the next level.”

HBAN is a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, dedicated to the all-island promotion of business angel investment. The HBAN umbrella group supports the early stage entrepreneurial community across the island of Ireland and actively works to increase the number of angel investors investing in early stage companies. The all-island umbrella group works on a regional basis to support the formation of new angel networks and works with existing angel networks.

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“SustainIQ’s unique offering has the potential to bring sustainable insights and solutions to companies through-out the UK and Ireland, which has already resonated with many high calibre companies who have become customers. We’re pleased that, through the HBAN network, we have been able to connect SustainIQ to supportive investors with the knowledge and entrepreneurial experience to take the business to the next level.”

Jim Curran, Partner at Clarendon Fund Managers


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