EquiTrace secures funding €1.25m from HBAN and Enterprise Ireland
EquiTrace, a unique app for horses that combines identity, GPS and medical records data using a scanner, a microchip and a mobile phone, has signed an investment agreement with a syndicate of HBAN angel investors led by Brendan Nevin, CEO of Code Institute for €1m.
Enterprise Ireland will also be investing in the company, providing €250,000. EquiTrace will use the investment to grow the company, building a sales and development team as well as investing in marketing, and focus on global expansion.
EquiTrace is already in use in five countries worldwide, including Ireland, USA, Canada, Italy and Sweden. The international horse authority, FEI, which covers many sports such as dressage and driving as well as eventing, license EquiTrace’s software. USTA, the American trotting association, have a white label version of the product. Merck USA recently signed a deal with EquiTrace covering 13 countries.
“The problems that EquiTrace solves – how to gather data in challenging environments, how to keep track of a horse and its welfare throughout its life – are worldwide issues for the horse community,” says Jennifer Corley, CEO, EquiTrace. “Horse welfare is an area of concern in every competitive sector, from racing to show jumping.”