Economy Minister Dr Caoimhe Archibald has announced a major £1.8 million equity investment in three Northern Ireland technology companies.

The funding, delivered through Techstart Ventures as part of Invest NI's Access to Finance programme, is designed to fast-track product development, boost international exports, and stimulate job creation across the region.

The three recipients are Derry-based sales optimisation firm Optik AI Ltd, Antrim agritech startup farmdrive, and Belfast-based regulatory software provider Foresight. During a visit to Optik AI's facility in the North West, the Minister emphasised the vital role of early-stage funding in driving the local economy.

The Minister said: "Access to finance for start-ups is crucial, and the Techstart Ventures fund is delivering essential support to early-stage tech companies so that they can accelerate innovation and growth in their business.

"It is excellent to see innovative businesses across the north already benefitting from the fund since its launch last year. I'm delighted to visit Optik AI to see how it has developed its software into a new cutting-edge AI platform to reach new markets, contributing towards our economic development." Optik AI, a Software as a Service (SaaS) provider, has secured £600,000 to refine its human-assisted AI platform, which helps businesses optimise sales strategies. The investment will support its expansion into European and US markets while creating five new roles. Ciaran Ryan, CEO at Optik AI, noted: "The demand for AI-driven sales technology is rapidly increasing and Techstart Ventures funding is helping us to accelerate the development of our software in line with this, optimising our product to target new global markets across Europe and the US. Invest NI is also supporting us to create five new jobs, so that we can build our team in tandem with our business growth."

farmdrive has received £690,000 to further develop its livestock management solution, which streamlines record-keeping and compliance for farmers. The funding will help the Antrim firm grow its presence in Britain and Europe and create eight new positions, including roles for software engineers, a data scientist, and a digital marketing manager.

Foresight has been awarded £500,000 to enhance its software, which assists companies in navigating complex regulatory changes in chemical policy. The Belfast company plans to use the capital to accelerate its product roadmap and increase exports to the US and Europe.

Steven Scullion, Director of Corporate Finance at Invest NI, added: "Techstart Ventures provides equity investment to innovative early-stage technology companies seeking to commercialise their ideas. It's great to see Optik AI, farmdrive and Foresight beginning to grow their businesses by investing in product development and R&D. Founders who have global ambitions and a need for investment monies can engage with Techstart Ventures to explore potential funding options for their business innovation journey."