Ambit Named One of the NZX Early Stage Companies
Ambit Named One of the NZX Early Stage Companies in 2019 TIN Report
Auckland, 1 November 2019 – Technology Investment Network (TIN) has named Ambitone of the top ten most promising NZX Early Stage Companies featured in this year’s TIN Report, launched at a gala awards event in Auckland.
TheNZX Early Stage Companies category recognises promising TIN companies outside of the TIN200 that are in an early stage of the company lifecycle (development, pre-commercialisation or in-market stages). These companies have been selected based on an assessment of the innovation of their technology and the potential market opportunity. The awards category is sponsored by NZX for the first time this year.
“This year we have surveyed more Early Stage companies than ever before,” said Greg Shanahan, managing director of TIN. “As angel investment in New Zealand technology companies continues to grow strongly – and with the average deal size breaking $1m for the first time – it appears the year ahead will be bright for New Zealand tech start-ups.”
“We are thrilled to be highlighted in this prestigious report with other impressive companies.” Tim Warren - Co-Founder of Ambit says. “The TIN report has become a mainstay of the NZ Tech sector and inclusion is a recognition of both the team work that’s cone in to making Ambit the leader in Conversational AI, and the great ecosystem we have in NZ.”
It has been an exciting year for the Early Stage technology companies currently tracked by TIN. According to angel investment figures*, they continue to attract significant investment with total angel investment increasing by 30.6% to $99m in 2018. Investment was spread widely with 99 angel deals, seven more than in 2018. Average deal size broke the $1m mark for the first time; a 21.4% increase. This suggests that companies are catching the eye of investors, both locally and internationally, who are investing more deeply in the companies they choose.
The TIN Report monitors the performance of New Zealand’s 200 (TIN100 and Next100) largest technology exporters in the areas of Information and Communications Technology (ICT), High-tech Manufacturing and Biotechnology. It is sponsored by New Zealand Trade and Enterprise, Absolute IT, BNZ, EY, James & Wells, and NZX.
Notes to Editors
*Angel investment figures are for the 2018 calendar year. This figure includes early stage technology companies only. Source: Angel investment data: PWC/Angel Association NZ (2018.