InishTech secures €1.8m investment

The Bank of Ireland’s Seed and Early Stage Equity Fund has led a €1.8m investment in software protection and licensing services specialist InishTech, which has a product which allows software companies to protect their code and increase product sales through licensing.

The syndicated investment consists of a €650k investment by the Bank of Ireland Seed Fund, a €400k investment by Enterprise Ireland, a €275k investment by the Halo Business Angel Network (HBAN) with the remainder of the funds provided by the company founders.

The company is based on Microsoft technology under the Microsoft IP Ventures program in collaboration with Enterprise Ireland. As a result Mircosoft says it has taken a “significant” minority stake in Inishtech.