NUI Galway-based technology company, Channel Mechanics, is raising €2 million from State agency Enterprise Ireland and other investors to develop its US business.

Channel Mechanics said on Friday that it is raising $2.3 million (€2.1 million) from Enterprise Ireland, Konstantin Sidorov of RRC Business Telecommunications and Karl Flannery of Knowledge Transfer Ireland.

The company plans to use the cash to grow its US business, which chief executive, Kenneth Fox, said was the company's highest priority.

"With our global headquarters in Galway, the funding will drive employment and expertise in this key market area," he said.

Channel Mechanics develops software that supports companies’ sales and promotions.

Its customers include Cisco, Zebra Technologies and Sonus Networks.