Belfast-based Ocula Technologies LTD has announced a new investment of £11 million in research and development of AI technologies.
The company has made a few announcements recently showcasing their growth and plans for the future, including plans to increase their workforce from 10 to 50 within its Software Development Centre by 2026.
In addition, their new headquarters will be located in Northern Ireland, with the hope of tapping into the talent pool in the region.
Ocula Technologies was founded by Thomas McKenna and Dr. Gregory Fletcher to make it easier for retailers and brands to finally make use of their data. They realised that the majority of retailers and brands globally failed to make profitable use of this data. To bring this solution to life, the company built a platform designed to deliver key insights while removing the traditional barriers of the industry. The platform takes care of the complexities of data analysis so that any retailer or brand can take advantage of the information. The new research into AI will help their clients grow their eCommerce P&L in ways they never thought possible.
Anne Beggs, Director of Trade and Investment at Invest NI, was confident that Ocula Technologies investment would boost Northern Ireland’s future economic growth.
“The benefits of investing in R&D are rich, and Ocula is a testament to how R&D can enable the development of game-changing products which can drive competitiveness in the global marketplace,” Beggs stated.
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