Downpatrick-based software company Bluesona has received a six-figure investment to further develop its product offering.
The company has developed technology designed to reduce mobile phone usage while driving. The system – called Loop – was created by chief executive Mel Morrison when his daughter was learning to drive.
The funding has been secured from Co-Fund II and the Halo Business Angel Network (HBAN). The latter is a joint initiative of Enterprise Ireland, InterTradeIreland and Invest NI dedicated to the all-island promotion of business angel investment.
Morrison said: “We’ve spent 18 months researching and developing a product that we feel is superior to what is already on the market.
“Our app provides real time data to insurance companies and warns users when they try to use their phone.
“We’re aiming to double our staff numbers early next year and we’re in discussions with a number of insurance companies across the UK and US. The long-term goal is to reduce road traffic collisions but also to reduce consumers’ insurance premiums.”
Morrison hopes to start a new funding round next year to raise £1m to help take the brand worldwide.
Claudine Owens, HBAN business angel forum manager, added: “Bluesona is an innovative, forward-thinking business that is tackling one of the biggest issues of road safety.
“The HBAN Forum events create new opportunities for companies like this to gain investment and access to a pool of expertise that can greatly benefit their business.”
Author: Matthew Ord, Senior Digital Staff Writer, Insider Media Ltd