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Kernel Capital leads €1m seed round for Dublin’s SolarPrint

7 Dec 2012

Irish venture capital firm Kernel Capital has led a €1m investment in Dublin-based SolarPrint, a developer of an indoor energy harvesting technology.

The syndicated investment, which was made via the Bank of Ireland Seed and Early Stage Equity Fund, comprises of a €500,000 investment by Kernel Capital with the remaining funding provided by private investors.

Daniel McCaughan, CTO, Kernel Capital, said, “Kernel Capital is delighted to support innovative Irish companies like SolarPrint whose technology is at the forefront of energy harvesting.”

Founded in 2008, by Dr Mazhar Bari, Andre Fernon and Roy Horgan, the Enterprise Ireland-supported company is developing Dye Sensitised Solar Cells (DSSC), a printable photovoltaic (PV) technology which converts light from any source into energy.

Kernel Capital and its associate life science investment firm Seroba Kernel have in excess of €196m under management in six separate venturecapital funds, investing in ICT, life science and general seed and early stage investments.  These funds are supported by Enterprise Ireland, Bank of Ireland, University of Limerick Foundation, NUI, Galway and a range of other financial institutions.

The Bank of Ireland Seed and Early Stage Equity Fund is a €32m fund that invests in start-up and early stage companies, with a focus on “export orientated high potential start-ups” that operate in the technology, food and financial services sectors.  This fund comprises of an investment by Bank of Ireland, Enterprise Ireland, University of Limerick Foundation and NUI Galway.

In October Kernel led a €400,000 investment in Cork-based In Hand Guides, through the fund.

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