€10m for Munster firms as Venture Capital funding sees 41% jump despite Covid-19

The Irish Venture Capital Association have suggested that the figures don’t reflect the challenges facing start-ups in the current climate

Dr Fiona Edwards Murphy, CEO and Co-Founder ApisProtect. Picture: Michael Mac Sweeney/Provision

Two Munster firms successfully raised €10m in venture capital funding last quarter, as overall VC funding for Irish companies jumped 41% despite the Covid-19 crisis.

Limerick family business BHSL Hydro, which has developed a technology for poultry farmers to generate power from waste, raised a further €8.5 million last quarter to bring the total investment to date to nearly €40m for the Ballagh-based business.