Dublin-based firm Galvanic manufactures the Pip, a bio-sensor that assesses stress levels and feeds the data to a smartphone app.

Galvanic was the first Irish company to raise $100,000 on crowdfunding platform Kickstarter, but its latest campaign on rival crowdfunding platform Crowdcube raised only £200,000 of its £700,000 target.

Its chief executive, David Ingram, told Fora that he did not want to comment on the examinership bid.