Social media start-up Tapastreet secures Kernel Capital as VC backer

Irish early stage backer Kernel Capital has closed its latest investment and provided start-up Tapastreet with €500,000.

A location-based photo and video mobile platform has been backed by Kernel Capital and Enterprise Ireland.

Tapastreet was developed through a joint research project with Trinity College Dublin and the Institut National des Sciences Appliques de Lyon as part of the EU’s Industry-Academia Partnerships and Pathways, Seventh Framework Programme.

It was set up by former Intel engineer Joe Mitchell and ex-Google employee Dave Johnson to provide a content-filtering service for real-time identification. Its discovery platform allows users to see and share content on social networks.

Kernel Capital has committed €500,000 through the Bank of Ireland Seed and Early Stage Equity Fund, with government body Enterprise Ireland providing the remainder.

Mitchell, CEO of Tapastreet, comments, ‘Tapastreet lets you see what is happening anywhere in the world, right now, through the eyes of those who are there.

‘We are excited to partner with Kernel Capital and Enterprise Ireland to bring this technology to a wider audience.’

The collaboration between Kernel Capital and Enterprise Ireland is not the first time in 2013 that the two have combined. Back in January, the duo closed a deal which saw telecommunications business Amartus receive €1.2 million. Other 2013 transactions for Kernel Capital include its backing of agriculture technology built by an Apple Mac designer.

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Ger Goold, partner at Kernel Capital, adds, ‘Tapastreet brings a unique proposition to the global market, enabling users to crowdsource media on social networks worldwide, thereby brining them to the heart of their location or subject of choice.

‘Kernel Capital is pleased to partner with this Irish start-up as they continue their journey to building a more connected and informed global society.’

The Kernel Capital-managed Bank of Ireland Seed and Early Stage Equity Fund is a €32 million pot, which invests in export-orientated start-ups in the technology, food and financial services sectors. It also supports patent and patent pending projects within Irish universities.

Hunter Ruthven

Bernard Williamson

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.