Wavebreak, which produces broadcast quality HD royalty free film footage and animation, has raised €350k of funding led by the Bank of Ireland Seed and Early Stage Equity Fund managed by Kernel Capital. Specifically, the fund put in €250k with the remainder coming through Enterprise Ireland.
Founded in 2006, Cork-based Wavebreak, a former InterTradeIreland Seedcorn national finalist, boasts a catalogue of over 13,000 HD stock videos and 25,000 animations/photographs. The startup sells its downloadable stock media through a global distribution network that includes major distributors such as Getty Images and Corbis Motion. Customers include FoxSports, Channel 4, MTV, the ITN group, Walkers Crisps and Aldi.
On the investment, Donal Duffy, Head of Enterprise Ireland Relations, Bank of Ireland, comments: “The Bank of Ireland Seed Fund demonstrates Bank of Ireland’s strong commitment to support dynamic, indigenous and innovative companies. We are pleased to provide a capital investment to Wavebreak Media, one such company, which will enable them to drive forward their growth aspirations across international markets.”