Business News

HBAN invests €300,000 in Hamstring Solo to create 10 new jobs

By Business & Finance
02 February 2018
Noel Doherty, Founder, ND Sports Performance; Aidan Shine, HBAN Coordinator for South East Region; and Michelle Freany, WIT Arena. (Photo: Patrick Browne)

Halo Business Angel Network (HBAN) has invested €300,000 in Kilkenny company ND Sports Performance creating ten new jobs.

The investment is aimed at the company’s cloud-based hamstring assessment system products for hamstring injury prevention and improving performance. The funding was led by HBAN‘s South East Business Angel Network (SEBAN) with support from Enterprise Ireland.

The ten new role will be across R&D, customer support, sales and marketing as the company wishes to push further into the Irish market and international markets of the UK, Europe and the US.

Top teams and universities in Ireland, the UK, Europe and the US are currently using the Hamstring Solo devices. These include European rugby champions Saracens, Leicester Tigers; Premier League sides such as West Bromwich Albion as well as GAA teams, Cork City FC and others.

ND Sports Performance is the official hamstring assessment system suppliers to the English Institute of Sport (EIS) and choose the Hamstring Solo range.

Developer of Hamstring Solo Noel Doherty was prevented from winning a third Intermediate Hurling All-Ireland with Kilkenny due to a hamstring injury. He was inspired to develop the product for athletes to safely perform high-tension exercises that improve the hamstring. Sensors on the Hamstring Solo Elite device collect data and then they are stored on a cloud-based platform. An app is used to analyse data and improve performance.

Founder Noel Doherty said: “The HBAN-backed SEBAN investment will enable us to grow the business and capitalise on the interest in the Hamstring Solo Pro and Elite products in export markets like the UK and the US. Not only will the funding allow us to employ more people, but we also get the benefit of our investors’ experience and knowledge.

“Hamstrings are one of the most frequently-injured muscle groups in all levels of sport, from amateur to professional. These injuries can be extremely costly to clubs and organisations, not just financially but also in terms of lost games and training time. Previous hamstring injury increases vulnerability to future injury, consequently reducing long-term career potential. Historically, hamstring resilience and rehabilitation was limited by a lack of practical assessment and monitoring tools. However, the Hamstring Solo range ensures that this is no longer the case.”

Aidan Shine, HBAN Coordinator for South East Region, a joint initiative of InterTradeIreland and Enterprise Ireland, said: “The number of regionally-based angel investors has surged in the last number of years and we’ve seen a significant increase in the level of investment in regional start-ups. HBAN’s South East Syndicate recently announced plans to invest €10 million in start-ups from the region over the next three years. Hamstring Solo is a great example of the type of company that HBAN identified as a high-potential start-up that went on to successfully present to HBAN angels.”