Ireland-based Swaay Technologies has raised more than €2m ($2.2m) in an equity investment round led by Business Venture Partners (BVP).
Members of the BVP Investor Club also participated in the funding round. Swaay did not disclose its valuation.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
BVP investments head Stephen Burdock said: “Swaay has an operating team that has built and run manufacturing businesses before, and in this sector execution is everything. Short-run labelling is a real and rising cost problem for brands, and cans keep taking share from other packaging formats.
“Swaay has a credible plan to make direct-to-shape printing work at scale. We are proud to lead this round, and it is a strong signal that so many members of the BVP Investor Club chose to back the team alongside us.”
The Irish industrial technology company will use the investment to begin the commercial rollout of its distributed direct-to-shape (DTS) digital print platform.
The funding will also support recruitment at Swaay’s Mullingar, Ireland, location.
Founded this year, Swaay is developing a full-stack platform for beverage co-packers and producers using emerging DTS technology.
The company has management and technical teams in Mullingar and Quebec, Canada.
Its production and technical hub is located in Trois-Rivières, Quebec.
Swaay Technologies was founded by CEO Ciarán Gorman, COO Mark O’Donnell, COO Sébastien Baril, and CTO Jean-François Gaudreault.
Gorman said: “I’ve just spent a decade on one successful international scale-up journey and I’m now ready for the next challenge. This time round, it’s a different sector, different founder team and different solution set, but the same principles of using technology to solve long-tail complexity.
“I see a huge opportunity to build and scale Swaay into a global technology-driven company from Ireland. BVP and the BVP Investor Club understood our ambition from the very first meeting, and we are delighted to have them with us on this journey.”
