Mike McGrath, co-founder and CEO of Kwayga.com, said their mission is to revolutionise the way supermarkets across Europe approach buying. "Redesdale’s investment is a huge vote of confidence in our groundbreaking technology," he said.

"This partnership will significantly accelerate our growth across Europe as we continue to build high-value relationships with significant UK and European buyers, reducing their sourcing time and costs by rapidly connecting them with the best European suppliers."

"This funding will be used to scale our team and continue to grow our product.” 

Michael Cantwell, a partner in The Redesdale Food & Beverage Fund said; they were excited about the expertise of the Kwayga team and their technology which solves a key buyer pain point. 

"It will be a game changer in how suppliers are sourced in the supermarket sector," he said.

Kwayga.com was founded in 2021 by McGrath and Martin Fitzgerald to provide a sourcing engine for supermarket buyers to engage them with private label and trending product suppliers in European markets where they would not previously have had visibility.

The company said buyers using their software cut 40% off their sourcing lead times, get new product requirements on shelves more rapidly, and replace existing products when necessary. 

It already counts the main Irish supermarkets and several UK supermarkets as its customers and has in excess of 80,000 suppliers on its database.

The Redesdale Food & Beverage Fund is a venture capital fund established by some of Ireland’s best-known and most accomplished financiers, business leaders and commercial scientists. Investors in the fund include Enterprise Ireland, Lord Abbett, Musgrave, Coca-Cola, Monaghan Mushrooms, and Tate & Lyle. The fund targets food, beverage, and nutrition companies, led by ambitious entrepreneurs.