A Dublin-based online marketing company is aiming to create 50 new jobs after securing $2.5m of funding from investors.
Cleverbug.com designs and prints business cards and promotional materials for small businesses. It is to set up its international headquarters in Dublin and plans to start trading in February next year.
Delta Partners invested $1.8m from its Delta Equity Fund III Limited Partnership, with the remainder of the funds provided by Cleverbug.com founder and chief executive Kealan Lennon and other investors.
As part of the fund-raising, Maurice Roche, chairman of the Irish Venture Capital Association and partner at Delta has joined Cleverbug.com as a non-executive director.
"There are more than 50 million small businesses in North America and Europe that have a potential need for Cleverbug.com services," said Mr Lennon. "Our estimate is that this represents a market size of approximately $30 billion", he added.
Mandac wins European space deal
Dublin-based technology company Mandac has won a second major contract with the European Space Agency to bring the internet to remote areas of Africa.
The only way to get internet access is via satellite connection for people in many parts of Africa and other emerging countries. The purpose of the Mandac's product is to bring pre-pay internet access to areas poorly served by broadband.
The company says the new contract with the European Space Agency will facilitate growth to 800,000 registered customers.
Ireland's membership of ESA is funded by the Government and is managed by Enterprise Ireland. Membership of ESA enables Irish research institutes and companies to participate in ESA programmes and secure valuable contracts.
