Academic Founders: Dr. Fiachra Collins & Professor Dermot Diamond
Ambisense provides environmental analytics in the rapidly growing Internet of Things sector.
Spun out of DCU in 2014 as an Enterprise Ireland High Potential Start-Up with private investment and a licence to a DCU proprietary gas sensing platform, the company was named one of Europe’s ‘Top 5 Cleantech Start-ups’ at the European Venture Summit the following year. In 2016, it launched GasfluX™, the world’s first online, continuous & adaptive ground gas risk assessment platform for use in land remediation, oil & gas, and waste management applications. In 2017, Ambisense achieved investment of €1M to scale-up its business and to expand into additional overseas markets. The financing round, led by Atlantic Bridge’s University Bridge Fund, enabled the company to accelerate growth through revenue, further product development and to scale up the team. Revenues grew 3-fold over the previous year and the company’s installed base of products grew 5-fold across UK & Ireland and Australia. The company is based at DCU Alpha, DCU’s Innovation campus and now employs nine people with plans for further growth in 2018. DCU’s TTO worked closely with the research team to identify the commercial potential of the underlying technology, to validate the market opportunity, to make the case for Enterprise Ireland funding and to identify a suitable commercial lead. The TTO built a package of IP that it licensed to the company, supported the founders with feedback on the business plan, investment term sheets and executed the shareholders agreements to enable the company to exploit the Ambisense technology.
Underpinning funding sources include: Enterprise Ireland, Environmental Protection Agency
TTO Support: Company formation, Contract Support & Negotiation, Intellectual Property Strategy & Management, Funding Advice, Licensing