Galway-based tech firm Nortev has received €170,000 in funding from Enterprise Equity Venture Capital to enable it to market a new product it has developed.
Enterprise Equity Venture Capital, which manages the AIB Seed Capital Fund, provided the investment as part of a €317,000 funding round.
The funding will be used to market Flexineb, a new product which controls respiratory diseases in horses. The product involeds the use of an equine mask which manages recurrent airway obstruction and inflammatory airway disease.
Nortev was founded in 2008 by business partners Gavan O’ Sullivan and Declan Moran. The company was supported during initial start up by Enterprise Ireland and a successful BES funding round in 2009.
Enterprise Equity Venture Capital jointly manages the AIB Seed Capital Fund of €53 million on a nationwide basis.
The fund was established in 2007 and invests in start-up and early stage companies or enterprises based in Ireland which have high growth potential.