Dublin tech firm raises €1 million for AI push

A Dublin-based capital markets tech company is scaling up after securing fresh investment.

Assiduous has raised €1 million in an oversubscribed round backed by private investors and Enterprise Ireland’s High-Potential Start-Up scheme. 

Bosses say the cash will support the growth of its AI-powered Corporate Finance Autopilot™, a virtual service designed to help small and medium-sized businesses prepare for financing and strategic transactions.

They add that they will expand their technical team and enhance their AI capabilities through 2025 and 2026. 

Fergal Meegan, chief executive of Assiduous, said: “Businesses are at a pivotal moment in the application of technology to the provision of professional services. 

“We are only scratching the surface with the value that can be created for business owners from leveraging AI to do more with less. 

“Assiduous is focused on embedding corporate advisory domain expertise at the application layer to unlock the power of foundation models for many more small and medium sized business owners seeking to contemplate, plan and execute high value corporate actions.”

Conor O’Donovan, head of start-ups at Enterprise Ireland, added: “Assiduous is an excellent example of a forward-thinking Irish start-up that is using cutting-edge technology to address a massive unmet market need. 

“The company’s growth plans aligns with Enterprise Ireland’s new five-year strategy Delivering for Ireland, Leading Globally, with a key objective to support and enable SMEs to engage with the start-up ecosystem, to execute financing and strategic transactions and to grow the next generation of Irish multinational corporations.” 

The company, headquartered at NovaUCD, also completed the EIT Digital Open Innovation Factory programme and has formed a strategic collaboration with Euronext Group to help SMEs access capital markets earlier.

Dénes Csiszár, interim head of acceleration and growth at EIT Digital, added: “We are pleased that we could provide financial support for Assiduous at a formative stage in its evolution. 

“We are excited about Assiduous’ prospects to solve some of Europe’s critical strategic and financing challenges for SMEs using the latest artificial intelligence innovations. 

“We look forward to witnessing Assiduous’ progress in the coming years as a champion for European SMEs and as a shareholder.”

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