Northern Ireland tech start-up Mountain Technologies Ltd has secured significant investment from a group of HBAN angel investors which will be used to market and launch its connected ski pass system designed for ski resort operators worldwide.
The global ski and snowboarding market is huge, with over 125 million people engaged in the sports. In 2019 Americans alone spent $17.5 billion on skiing pursuits. However, unfortunately there are also around 100 deaths on the slopes in Europe every winter.
Founded by CEO Pete McFetridge and COO Ken Armstrong, Mountain Technologies’ LifePass system was created with the vision of utilising the best of today’s technology to make the outdoors safer for all to enjoy, but not forget that people go to the mountains to get away from technology. LifePass has been developed so it does not require a mobile phone to operate, allowing its user to have the technology but in a passive way.
The company pitched to an HBAN Ulster event earlier this year and following that pitch has now secured a scale up sizeinvestment from six locally based angel investors and Co Fund II.
Pete McFetridge from Mountain Technologies said: “We are pleased to have secured the backing of a number of very experienced investors who all strongly believe in our business. As we move from the testing phase of LifePass to supplying the solution to customers, we will be investing in our sales and marketing.
“Smart technology is being used around the world in many different sectors and we want to use that technology to transform mountain resort operational management and improve safety for those enjoying winter sports. We believe our technology will save lives.”
Jim Curran, Regional Manager for HBAN in Northern Ireland, added: “The product designed by Mountain Technologies aims to take away an area of concern from ski resort operators and the HBAN members who have invested in the company believe there will be strong demand for its innovative technology.
“By pitching to an HBAN event the company has been able to access a diverse group of business angels to help the company on the next stage of its journey. The investment round was closed out with matching from Co Fund II, which combined with the business angel syndicate provides the company with a solid investor base.”
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