LED start up secures €800,000 in funding
Dublin based start up Ikon Semiconductor has secured €800,000 in funding to bring to market its led driver IC solutions for the offline led lighting market.
The syndicated investment was lead by Kernel Capital and the Bank of Ireland Seed Fund. The remainder of the funds were provided by Simple.ie Green BES Fund, Enterprise Ireland and private investors.
Ikon will use the capital to support the development of its single chip power converter, which resides within the bulb and powers the led light. The device is said to offer gains in efficiency, cost, power factor, dimmer compatibility and size.
"We are delighted to have high calibre investor Kernel Capital on board at this stage in the company's development," commented Ikon's ceo Conor McAuliffe (pictured second from left). "The led lighting market is a high growth area and this funding will allow us to make significant progress over the coming 12 months and capitalise on this market potential."
