The Bank of Ireland Kernel Capital Fund has announced that it's invested €2m in Dublin-based, DecaWave Limited, which provides real-time location and wireless sensor solutions. The investment was co-led with International Investment and Underwriting (IIU).
It follows the recent sale of another Irish semi-conductor company, ChipSensors, a developer of innovative silicon sensor chips to detect temperature, humidity and gases, which The Bank of Ireland Kernel Capital Equity Fund had invested quite heavily in (€1.95m). Presumably today's announcement sees some of that money being recycled pretty quickly.
An Enterprise Ireland supported company, DecaWave's main product is ScenSor, a chip that solves a wide range of problems including how to identify and accurately track the specific location of any object or person, utilising very low power, low cost wireless-enabled sensors. Industries that can benefit from the ultra-wideband technology include health, manufacturing, safety and security.
The new investment will be used to accelerate the next phases of growth for ScenSor technology, with DecaWave already establishing a Partnership Agreement with leading Korean telecommunications company, LG Innotek who will manufacture modules based on DecaWave's ScenSor chips.
DecaWave employs 18 people and a number of contractors based in Dublin, France, the United States and Asia.