The funding round on 1st December was led by the Atlantic Bridge University Fund. Kastus, who were nominated for a KTI spin-out impact award this year, is also supported by Enterprise Ireland, Carragh Holdings (Singapore based investor syndicate) and Dick Blake, CEO of Pembroke Consultants.
DIT Hothouse, licensed the game changing antimicrobial technology that has been proven to provide a 99.99% reduction in harmful bacteria and fungi, including MRSA and E.coli to Kastus. This new antimicrobial technology was developed by the Research Team in the Centre for Research in Engineering Surface Technology (CREST) of the Dublin Institute of Technology. It was developed in response to industry & healthcare requests to help reduce the spread of infections caused by bacteria and fungus surviving on touch surfaces and in the indoor environment. Manufacturers of glass, plastics, ceramics and paints will be able to include the technology on surfaces that people touch everyday including glass, ceramics, mobile phones, ATMs and in swimming pools.
DIT Hothouse understood the business need from Kastus and found suitable researchers in DIT to participate in the collaboration. DIT Hothouse identified and protected this new antimicrobial technology and the intellectual property behind it. DIT Hothouse drafted and negotiated the contracts, licenced the technology and worked on the company spin out formation. DIT Hothouse facilitated the introduction of Pembroke Consultants who provided the initial seed capital for Kastus.
Kastus are based in the Greenway Hub. The Greenway Hub is a new 21,500 square foot Incubation Centre, located in the new Dublin Institute of Technology campus, Grangegorman. It was developed by DIT Hothouse and provides office space and supports to over 60 innovative entrepreneurs and their teams. The range of facilities include: own door business units, hot space desks, shared networking spaces, access to DIT Researchers, Technicians, laboratories, and equipment.
Tom Flanagan, Director, DIT Hothouse, said: "I congratulate John on raising this investment to take this game changing technology to market. It has the potential to save millions of lives. The technology comes from extensive research conducted by the Research Team in the Centre for Research in Engineering Surface Technology (CREST) based in the Dublin Institute of Technology. It is exciting to see the Atlantic Bridge University Fund invest in commercialising research from DIT.