Big jump in Northern Ireland investment
The Catalyst NI Deal Tracker report has just been published and the 2019 tech investment figures show a 53% rise to £44.3m.
And the analysis also shows that 42% of this investment came from outside NI, a good sign of the quality of NI tech companies. £12.8m was invested by angel investors.
The report was discussed at the launch event by an expert panel which included investors from Notion Capital, Cell Capital and Puma Private Equity along with NI funds Techstart Ventures and Clarendon Fund Managers. Growing NI medical 3D printing company Axial 3D provided a view from the other side of the table.
Commenting on the figures, Catalyst Director of Funding and UKBAA board member Alan Watts (pictured) said:
“Tech investment in NI saw a healthy rise in 2019 and the underlying figures also show strong evidence of a body of companies emerging ready to take on larger investment of £5m+”
“While we are pleased with these figures, this is tempered by the knowledge that 2020 is going to be a very different year for everyone. The core resilience and agility of our companies is clearly going to be called upon.”
Axial 3D is an example of a growing NI company, their CEO Roger Johnston (pictured) said :
“I am incredibly proud of the progress we have made over the past 12 months since our seed round. We have added surgeons in over 100 new hospitals as customers and most importantly, we are changing the lives for hundreds and soon to be thousands of patients.”
“We are now in the process of completing the first tranche of a £7.5m total round, to allow us to really start to take advantage of the scaling opportunity in the US market.”
The full NI Deal Tracker Report can be downloaded here