Armagh-based, female-founded tech start-up, Needi, has raised just under £900,000 in a new funding round.
Founded by friends Louise Doyle and Steph Scholes, the company has developed a gift matching algorithm for the corporate sector, enabling firms including KPMG, Microsoft, Spotify and Virgin to ensure gifts align with clients’ ESG and sustainability goals.
The start-up blends AI technology with human expertise to streamlines the sourcing of unique, sustainable corporate gifts and branded merchandise from local independent businesses.
♦Subscriber Exclusive: Ask our tax expert an Autumn Budget question
The seed funding round, led by Clarendon Fund Managers and supported by other investors including Techstart Ventures, raised a total of £895,000 for Needi.
It included £450,000 from the British Business Bank’s Investment Fund for Northern Ireland.
Louise Doyle said the Needi platform helps companies respond to employee wellbeing strategies and offer clients something a little bit different.
“We source from the best local independent merchants so using Needi not only helps companies to save time and effort but will also help provide a boost to local companies in the run up to Christmas,” she said.
“We are incredibly proud of what we have achieved so far, given the barriers female founders can face but the experience with Clarendon Fund Managers has been brilliant from day one.
“I have 14-month-old twins and Steph has a two-year-old. It can be challenging as female founders to juggle work and home life, but we are building a company with an ethos that makes that balance achievable.”
