Kernel Captial invests 500K in ZolkC Limited


13 January 2012: Kernel Capital, through Bank of Ireland Seed Fund and Early Stage Equity Fund has closed a 500,000 Euro investment in Waterford based ZolkC limited, an innovative tourism technology specialist. ZolkC an award winning technology enables tourists and heritage sites to deliver powerful and interactive and engaging experiences to visitors of all ages, in multiple languages.

The ZolkC platform combines hand held guides with rich multimedia video and audio content allowing visitors to customise their experience and fully immerse themselves in tourist destinations like never before. To date, the ZolkC solution has delivered unique and memorable tours to over 600,000 visitors to various sites including the Culloden battlefield experience in Scotland, the Saint Patrick Centre in Downpatrick, Co Down, and the Dunbrody Famine Ship Experience in New Ross, Co. Wexford. Today, the company confirmed the contract with Waterford City Council to provide a hand held multimedia interpretation of the historic Viking Triangle Quarter which combines a number of the cities tourist attractions.

Founded in 2007, ZolkC emerged within the Telecommunications Software & Systems Group within the Waterford Institute of Technology (WIT). The company’s innovative technology is based on pioneering research and development undertaken in WIT over the past four years.

Commenting on the announcements Orla Remmington, Kernel Capital, says “The global tourism industry is increasingly employing technology to enhance the visitor experience and draw new audiences, Kernel Capital is delighted to support Irish companies like ZolkC, this investment will position the Company to continue to drive innovation in tourism technology and expand into new markets.”

Donal Duffy, Head of Enterprise Ireland Relations, Bank of Ireland, added: “Bank of Ireland continues its commitment to support dynamic innovative enterprise and our investments in ZolkC through the Bank of Ireland Seed and Early Stage Equity Fund, managed by Kernel Capital demonstrates how we achieved this”. Supporting substantial businesses like ZolkC in the context of a challenging market enables these companies to grow, recruit and realise their long term strategic ambitions which is critical for the company and contributes to Ireland’s recovery”.

Welcoming the announcement Greg Treston, Head of High Potential Start Up’s at Enterprise Ireland said: “Commercialising Opportunities from third level research is an important priority for Enterprise Ireland. ZolkC limited a spin out from TSSG, has made the leap, and Enterprise Ireland is delighted to support the company’s market development plan as they continue to win strategic international tourism customers”.

According to Paul Savage, CEO, ZolkC “This is an exciting time for ZolkC, this investment from Kernel Capital will enable us to bring our platform to the North American market where we aim to revolutionise how visitors experience tourist sites using our technology to really bring attractions to life. Our solution has proven benefits for our customers in terms of visitor numbers and revenue generation with average revenue per visitor increasing by 20% since our solution was deployed in Dunbrody”.

Featured: Irish Examiner, Irish Times.
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Higher Certificate in Business in  Tourism
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