The Halo Business Angel Network, the all-island organisation responsible for the promotion of business angel investment, has announced a €300,000 investment in Kilkenny-based ND Sports Performance.
It will support the company's cloud-based hamstring assessment system products for hamstring injury prevention and improving athlete performance.
The funding, which will lead to the creation of up to 10 new jobs, was led by the South East Business Angel Network, with support from Enterprise Ireland.
The new roles will be in research and development, customer support, sales and marketing as the company targets further expansion in Ireland and into international markets including the UK, Europe and the US.
Some of the top teams and universities in Ireland, the UK, Europe and the US are currently using the HamstringSolo devices. These include European rugby champions Saracens RFC, Leicester Tigers, and a number of English premier league clubs including West Bromwich Albion, as well as a host of All-Ireland champion GAA teams, the recent League and FAI cup winners Cork City FC.
ND Sports Performance is the official hamstring assessment system suppliers to the English Institute of Sport, the largest sporting organisation in the UK, on an exclusive basis.
In 2012, a hamstring injury prevented Noel Doherty from winning a third Intermediate Hurling All-Ireland with Kilkenny. Using his background in design and engineering, Noel developed the HamstringSolo Pro exercise aid which enables athletes to train effectively by safely performing a range of high-tension exercises that improve hamstring performance and resilience.
Sensors on the HamstringSolo Elite device collate data that is stored on a cloud-based platform. A multi-functional app provides instantaneous, user-friendly and readily exportable feedback which allows medical staff to manage rehab, evaluate training effectiveness, monitor fatigue, set goals and identify athletes at risk of injury. The device also collects information over multiple sessions to build player/athlete profiles.
Founder Noel Doherty said, "Hamstrings are one of the most frequently injured muscle groups in all levels of sport, from amateur to professional. These injuries can be extremely costly to clubs and organisations, not just financially but also in terms of lost game and training time.
"Previous hamstring injury increases vulnerability to future injury, consequently reducing long-term career potential," he said.
Aidan Shine, HBAN Coordinator for South East Region, said, "The number of regionally based angel investors has surged in the last number of years and we’ve seen a significant increase in the level of investment in regional start-ups. HBAN’s South East Syndicate recently announced plans to invest €10 million in start-ups from the region over the next three years. HamstringSolo is a great example of the type of company that HBAN identified as a high potential start-ups that went on to successfully present to HBAN angels."
