Wearable sports analytics technology company Danu Sports has raised €3.5m in Series A funding, led by CastleGate Investments.
Danu said the new funding round will support the creation of 10 jobs and the commercialisation of its advanced wearable technology solutions.
The company is also backed by Enterprise Ireland and Halo Business Angel Network (HBAN) and today's funding is its third and largest funding round since 2020.
Founded by Oisín Lennon in 2017, Danu has developed a wearable movement analysis system providing injury and performance analysis "in the field" to lab-based accuracy.
Its initial focus is on professional sports and the medical industry.
CastleGate Investments is a growth focussed family office led by former Goodbody CEO Roy Barrett.
It manages a family fund on behalf of serial entrepreneur Tommy Kelly, the CEO and founder of ESW.
"CastleGate has been an early stage investor since 2021 providing both financial and mentoring support, including Tommy Kelly's ecommerce and disrupter expertise and Roy Barrett’s financial and sporting nous," Mr Lennon said.
"The assistance and expertise provided by CastleGate, and our other shareholders has accelerated our commercialisation journey and we are now hiring to fill 10 roles across marketing sales and data science," he said.
"Initially our focus will be on B2B applications for professional sports but we see significant potential downstream for medical and consumer sports applications," he added.
Roy Barrett, the CEO of CastleGate Investments, said he was excited for what the future holds for Danu Sports.
"We've seen the progress the company has made over the last 15 months and have been very impressed by the team and their unique technology," he added.
