StormHarvester secures £1.8m Seed investment led by Green Angel Syndicate
Green Angel Syndicate led the investment round to accelerate international expansion and support team growth.
StormHarvester develops automated water management software that helps wastewater utilities prevent flooding and pollution. Based in Belfast, the company provides machine learning and rainfall forecasting tools used by the majority of UK wastewater providers.
Belfast green technology company StormHarvester has secured a €2m investment round, equivalent to £1.8m, led by Green Angel Syndicate. The capital will enable the firm to accelerate its international expansion into the US, Canadian, Australian and New Zealand markets, alongside launching a major recruitment drive to grow its team in Belfast.
Additional backing for the round came from Invest NI Co-Fund II, HBAN business angels, Techstart Ventures, Eden Rock and other local and international angel investors. The funding follows a period of significant growth that saw the company expand into 19 new markets through a partnership with Wavin.
Founded in 2017 by drainage engineer Brian Moloney, StormHarvester provides predictive network management solutions that allow utilities to manage systems remotely. The company plans to create 30 new jobs over the next three years, focusing on software engineers, data scientists and drainage specialists.
From the founder
"This €2 million investment will allow us take our technology further into the European market and also enter the exciting North American market. We are planning to action our aggressive hiring plan over the coming months and grow our team significantly. This will initially focus on building our capacity to tackle major water management and sewer pollution issues through the hiring of software engineers, data scientists and drainage engineers, as well as expanding our marketing team to raise awareness of our products"
Brian Moloney
CEO at StormHarvester
Investor perspective
"Green Angel Syndicate is delighted to have led the funding raise for StormHarvester, whom we believe can play a major role to reduce the social and economic impacts of urban flooding and accelerate the recycling of rainwater."
John Waters
Non-Exec Director, Green Angel Syndicate
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Invest in sales and marketing
Investors
John Waters
Green Angel Syndicate
Invest NI Co-Fund II
HBAN
Jamie Andrews
Techstart Ventures
Eden Rock
Categories
About the company
StormHarvester
StormHarvester provides automated water management software for wastewater utilities.