EpiSensor to create 10 new jobs

LIMERICK-BASED technology company EpiSensor has secured €850,000 in venture capital funding, which will lead to the creation of 10 jobs.

Founded in 2007, the company develops wireless sensor technology that shows where energy savings can be made.

The technology is used by companies in the pharmaceutical, medical-devices, food-processing and manufacturing industries, including IBM, Johnson Johnson and Citigroup.

Some €500,000 of the funding has been provided by Bank of Ireland’s start-up and emerging-sectors equity fund, which is managed by Delta Partners.

The remainder has been provided by the AIB Seed Capital Fund, which is comanaged by Enterprise Equity, while Enterprise Ireland and various private investors provided the remaining funding.

EpiSensor, which was cofounded by Gary and Brendan Carroll, employs seven people. The investment will help the company grow international sales, it said yesterday.

EpiSensor products are operating in sites across Europe, Australasia and North America.

It also has customers in Switzerland, New Zealand and Hungary.

This is the eighth fund in which Delta Partners has invested this year on behalf of Bank of Ireland’s emerging-sectors equity fund, which is worth €17 million.

Shay Garvey of Delta Partners said Delta sees major potential for EpiSensor to become international leaders in wireless sensor technology. “With new products scheduled to be released in the coming months it will enhance the company’s ability to sell into areas such as water treatment, building management and smart metering, which represent significant opportunities for the company.”