Founded in Ireland, CIM strengthens its Cork base

CIM, an Australian-headquartered software company founded by Irishman David Walsh, is hoping to create up to 50 new jobs at its Irish operation following a funding round that valued the company at nearly AU$100m (€67m). be able.

Last week, CIM, which develops software to manage large buildings at peak performance and reduce carbon footprint and costs, closed a AU$10.3 million Series A funding round.

The round was led by Five V Capital alongside Carthona Capital and came as the company launched its international expansion plans into Asia and North America.

Walsh, who was born in Tipperary, told that Sunday independent that CIM would use a “large part” of the funds raised in Ireland. He added that there is a great team in Cork doing a lot of marketing and support work and they hope to hire between 40 and 50 additional staff there.

“Business in Ireland has been great,” he said. “We’ve seen really solid demand for technology like ours. The Irish company has been able to develop very good relationships with CBRE and Knight Frank, these really big property managers.”

Walsh said he hopes the “next phase” for CIM will be a $70 million to $80 million funding round over the next 24 to 36 months.

“I don’t want to give numbers and say I’m trying to build a $5 billion business,” he said.

“The numbers are just a scorecard. What I want to do is something that changes the lives of facility managers.”

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Mother-daughter team Mary and Sophie Leahy are hoping to bring their trendy electronic wine opener to the US – and have more plans

Mother and daughter see wine opening

The Wine Opener, an Irish family business, has now attracted over 5,000 customers since launching in 2021 with their trendy electronic wine opener.

Designed by mother-daughter Mary and Sophie Leahy, the company has launched a new website ahead of the hopefully busy holiday season.

A Dublin-based pop-up store will open in the run up to Christmas and they also plan to launch their product in the US market this winter. The Leahys are also planning to add a new addition to the range, The Pop-Stop, which keeps bottles of fizzy water sparkling for five days.

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Web Summit co-founder Paddy Cosgrave. Photo: Reuters

Web Summit’s new venture capital vehicle to raise $40 million

Paddy Cosgrave’s Web Summit is reportedly set to launch a new venture capital vehicle that will boast $40 million.

The fund’s size was included in an article by US website Techcrunch, citing sources.

Techcrunch wrote that Web Summit Ventures will consist of two funds. One will be called Web Summit Ventures Seed, targeting early-stage and Series A-round companies, and the other is Web Summit Ventures Growth, dedicated to seeding into Series B stages and beyond.

https://www.independent.ie/business/irish/irish-founded-cim-to-bolster-cork-base-42013550.html Founded in Ireland, CIM strengthens its Cork base

Fry Electronics Team

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