Belfast-based tech business SustainIQ has secured a “significant investment” from a syndicate of investors to expand its presence in the UK and Irish markets.
Founded by Maria Diffley and Liam McEvoy in 2018, 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 with the aim of assisting customers in making decisions to maximise the impact of their sustainability initiatives.
Following a successful pitch, a syndicate of four HBAN (Halo Business Angel Network) business angels have joined forces to make a six-figure investment in SustainIQ, with match funding secured from Co-Fund NI.
SustainIQ is currently working with firms such as Belfast Harbour, Gilbert Ash, SHS Group, and Heron Brothers.
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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.”
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HBAN is a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland, and aims to promote business angel investment across the island of Ireland.
Co-Fund NI is managed by Clarendon Fund Managers and is part of Invest NI’s Access to Finance portfolio, partially funded by European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.
