LONDON Firecomms Ltd., a compound semiconductor company that develops visible wavelength light sources, has announced it has closed a 9.6 million euro (about $12 million) round of funding with new and existing shareholders.
Firecomms (Cork, Ireland), founded in 2001 as a spinoff from Ireland’s National Microelectronics Rsearch Center in Cork, makes lasers and LEDs for optical data transmission and data capture using visible light over plastic optical fiber.
The money would enable the company to increase production of semiconductor VCSEL devices and fiber optic devices, including an automotive-grade fiber optic transceiver for in-car infotainment systems, Firecomms said. This funding also will support the expansion of Firecomms' product line, sales and marketing fulfillment, and support activities throughout its markets.
ACT Venture Capital of Dublin, and Alps Electric North America, a customer for Firecomms, led the finance round. Atlantic Bridge Ventures, the company's anchor investor, also invested in this round.
“This additional funding and new investors will enable us to take advantage of many high revenue opportunities in the giant consumer electronics and automotive markets,” said Declan O'Mahoney, chief executive officer of Firecomms in a statement.
“We are delighted with the progress Firecomms continues to make with strategic customers particularly in high-volume consumer and automotive markets,” said Brian Long, chief executive officer of Atlantic Bridge Ventures, in the same statement.