Strategic Relocation to Ireland

Hexis, renowned for its personalized performance nutrition app, has experienced remarkable growth, particularly within the European cycling sector. Notable clients include the INEOS Grenadiers and Uno-X, while also making its debut in other sports such as soccer through the Premier League’s Southampton Football Club.

As part of a strategic move towards expanding its influence in the U.S. market, Hexis has officially relocated its headquarters from London to Dublin. This transition is underscored by a significant investment from Enterprise Ireland, a government agency that has established itself as a pivotal player in supporting startups across Europe.

Backing from Enterprise Ireland

David Dunne, CEO and Co-Founder of Hexis, is Irish by origin and has dedicated a substantial portion of his career to the UK. The decision to shift the company’s headquarters wasn’t merely a call of the homeland; it was also facilitated by a €250,000 funding injection on top of a recent $2 million pre-seed round. According to Dunne, the robust technology ecosystem, especially in sports technology, presented a compelling reason to return and engage with Enterprise Ireland for enhanced market access and mentoring opportunities.

“When I also look at the technology ecosystem, and in particular the sports technology ecosystem in Ireland, it’s been one that has been really pushing the limits over the last few years and pushing hard on the innovation,” Dunne observed.

Enterprise Ireland’s Mission

Enterprise Ireland requires that its portfolio companies establish their headquarters in Ireland while actively promoting global expansion. The agency operates 42 offices globally, each staffed with market advisors dedicated to assisting firms in navigating local market dynamics.

Under the leadership of Senior Development Advisor Keith Brock, Enterprise Ireland has supported nearly 70 sports technology companies in recent years, including funding early-stage ventures such as Kitman Labs and Orreco. Additionally, it facilitates key introductions to U.S. sports teams through events like the Aer Lingus College Football Classic and upcoming NFL matches in Dublin.

Brock stated, “Our role is to create jobs, but we focus on trying to support companies that have export potential. Our overseas offices, that’s where the gold is.”

Success Stories and Future Prospects

Since moving into its new office this year, Hexis has already commenced recruiting for new positions, signaling its robust growth trajectory. Enterprise Ireland’s approach not only supports established firms but also nurtures entrepreneurs with innovative ideas. For example, Brian Moore, a former sport scientist, benefited from an EI-backed innovation program that helped him launch Orreco, highlighting the organization’s ability to foster early-stage startups.

Moreover, Kitman Labs, a pioneering company that provides services to more than 2,000 clients and has raised $82 million, credits Enterprise Ireland as its first investor in 2012. “They were my seed funders — the first money that we ever took — to allow us to basically bring the idea to life,” affirmed CEO Stephen Smith.

The Broader Landscape of Sports Technology

Enterprise Ireland’s focus extends beyond just athlete-supporting technologies; it also encompasses areas such as stadium connectivity and digital ticketing, underpinning the importance of sports tech within a larger digital technology framework.

Brock remarked, “Essentially, I was told categorically, ‘This better not be a vanity project.’ There are just bigger opportunities out there than in its purest form.” This indicates a strategic understanding of the industry’s potential across various sectors.

Orreco, although headquartered in Galway, has established a global presence serving high-profile clients ranging from Premier League teams to Formula One. Moore noted that their firm retains an “Irish heartbeat but a global pulse,” emphasizing the vital support from Enterprise Ireland during their transition from startup to scale-up.

“They are a big part of the reason we’re here,” he concluded.