Clarendon portfolio company Mountain Technologies has secured significant investment from a group of HBAN angel investors which will be used to market and launch its potentially life-saving smart ski pass system designed for ski resort operators worldwide.
More than 125 million people engage in ski and snowboarding activity worldwide, and last year Americans alone spent $17.5 billion on skiing pursuits.
But there are also around 100 deaths on the slopes in Europe every winter - and the technology founded by Pete McFetridge and Ken Armstrong is aimed at helping address that
The firm's LifePass system was created with the vision of utilising the best of modern technology to make the outdoors safer for all to enjoy, but not forget that people go to the mountains to get away from technology. It 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 has now secured a scale-up size investment from six locally based angel investors and Co Fund II.
Chief executive Pete McFetridge said: “We're pleased to have secured the backing of these experienced investors who all strongly believe in our business.
“Smart technology is being used around the world in many different sectors and we want to use that 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 innovative Mountain Technologies product aims to take away an area of concern from ski resort operators and investors believe there will be strong demand for the technology.”