Motoklik, an Irish motorsport tech start-up, has raised €300,000 in seed funding from investors and Enterprise Ireland.
The funding will be used to create 10 new roles and to complete the commercial design of the product and launch it into the market.
The company, which was founded in 2018 by Jens Köpke, a former research and development engineer with Bausch and Lomb is seeking to make racers faster and safer by improving their suspension setup.
Mr Köpke has been racing off-road motorcycles for over 20 years.
In 2016, he injured himself in a crash caused by an incorrect suspension setup and as a result, he had the idea to create Motoklik.
Motoklik’s product aims to reduce the need for riders to rely on the "feel" of their suspension setup.
Research carried out by the company reveals that 90% of racers report issues with their suspension setup, such as being too stiff or soft, but lack data on what is the cause and extent of the problem.
Motoklik has developed a cloud-based artificial intelligence and machine learning platform in collaboration with the European Space Agency.
Via a mobile app, it links to an in-house developed motorcycle suspension position monitoring system that provides racers, and race teams, with information on the best suspension setup for current track conditions.
Mr Köpke said the investment will put Motoklik in a position to take advantage of the booming off-road motorcycling sector and prove the technology works in one of the world’s toughest environments.
"Where previously data acquisition and management was only for top end race teams, now our AI and machine learning system can help teams and racers at every level to find the best setup, letting them concentrate on one thing – winning," said Mr. Köpke.