A tech start-up has secured investment from a group of HBAN angel investors.
Ballymena-based Mountain Technologies will use the funding to market and launch its connected ski pass system designed for ski resort operators worldwide.
Founded by chief executive Pete McFetridge and chief operating officer Ken Armstrong, Mountain Technologies’ LifePass system was created to use technology to make the outdoors safer. LifePass has been developed so it does not require a mobile phone to operate.
The company pitched to an HBAN Ulster event earlier this year and following that pitch has now secured a scale-up size investment from six locally based angel investors and Co Fund II.
Mr McFetridge 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.”