A Belfast artificial technology company expects to create around 40 jobs in the next three years after deciding to base its new software development centre in the city.
Ocula Technologies said the move is part of an £11 million investment in research and development in its online platform which works closely with ecommerce companies to improve user experience and to compete on price.
The company works with major names such as Boots, AO and American football team the Kanas City Chiefs which recently won this year’s Super Bowl. It has plans to grow globally, particularly in the US, but chose Northern Ireland as its base having secured £5 million in investment from Lloyds Banking Group.
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Ocula currently employs 10 staff but hopes to grow total headcount to 50 within three years.
Thomas McKenna, CEO and Co-Founder of Ocula Technologies, said Ocula’s AI software is growing in importance given the explosion of generative AI in many facets of live.
He said Northern Ireland is the right place from which to grow the business.
“With its rich talent pool, we certainly made the right decision in choosing Northern Ireland to help us build this capability; our Northern Ireland team has developed our new software platform which is at the cutting edge of AI and is already benefiting some of the largest brands in the world – for example, we have helped the Kansas City Chiefs deliver significant revenue uplifts of 15 %.
“We want to continue pushing the limits of innovation and building on our success in markets such as North America, where we are aiming to achieve significant sales by the end of 2024.”
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Invest Northern Ireland supported the firm in the investment.
“An ambitious company like Ocula Technologies had many options to establish its headquarters,” Anne Beggs, Invest NI’s Director of Trade & Investment, said. “Choosing Northern Ireland is an important vote of confidence in our talent, infrastructure and R&D capabilities and the company is a great addition to our thriving software development sector.”