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€1m Invested In Dublin Software Co

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DateTuesday, January 20, 2009

€1m Invested In Dublin Software Co

Dublin based Software Development Company DataKraft Receives €1m Investment from EI and AIB Seed Fund



At the announcement of €1m inward investment Mary Cryan, Jacques Lefebvre, Carol McKeon and Alex Hobbs

DataKraft, the Dublin software company has received inward investment of just under €1 million spearheaded by Enterprise Ireland and the AIB Seed Capital Fund.


The company, specializing in niche applications and bespoke application development, was founded in 2004 by Jacques Lefebvre and Carol McKeon and now employs ten people in Beacon South Quarter in Sandyford



The bespoke solution development for R&D Management, CRM, HR and Project Management is based on its no-coding platform which DataKraft claim is 20 times faster than traditional development methods, and has been developed in consultation with more than 50 companies operating in the Food industry over the last six months. 



CEO Jacques Lefebvre said “As a result of this engagement process, the design of our NPD solution has been determined by the industry and not just by ourselves in isolation which is where many software vendors get it wrong. Of the 50 companies we met, more than 75 percent said they would have an active and real use for our solution.”



DataKraft are a Microsoft Certified partner and their platform has also been certified for Vista and its customers include the Big Red Book, Dalkia, Bryan S Ryan and The Intertrade Ireland Acumen program.

Commenting on the investment, Lefebvre said “We have recently developed a new niche vertical solution for the food industry.  Our DataKraft R&D Management Solution is a new product development project management solution.  It includes recipe development and costing, nutritional calculation, Gantt chart project management, ingredient and allergen management, supplier and sample tracking, and trial and tasting management."


He continued "The investment will be used to further develop this solution as well as the underlying platform, and to protect a pending patent in the EU and USA, as well as Ireland.”


Former Chairman of the Irish Software Association, Mary Cryan who sits on the boards of several technology companies, has been appointed Chairman of DataKraft. She is an independent advisor to the software sector and is currently Chairman of the Advisory Science Council and a member of the board of ICT Ireland.


John O’Sullivan is also acting as technical advisor to the Board.



As an Investment Partner of the new €30 million AIB Seed Capital Fund, Dublin Business Innovation Centre co-managed the investment along with private investors from the Halo Business Angel Partnership.


Alex Hobbs of Dublin BIC explains “The AIB Seed Capital Fund invests in companies that have a management team with a high level of expertise and commitment and have technology that has strong market growth and profitability potential. Dublin BIC are delighted to partner with Enterprise Ireland and private investors in an investment in DataKraft, who have developed a unique software platform and have an extremely agile approach to servicing gaps in the software market. We are also very pleased with the early market response to their new R&D management Solution for the Food Industry”



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