Dublin-based silicon chip designer Decawave is in the process of raising an additional 5m euros as it prepares to outsource large-scale manufacturing of its first product next year. Chief executive Ciaran Connell confirmed yesterday that the company, which is already backed by Dermot Desmond’s IIU vehicle and Kernel Capital, is in negotiations with a major mainland European venture-capital company and hopes to close a funding deal within a matter of weeks. He said that IIU, Bank of Ireland, Kernel Capital and Enterprise Ireland remain “totally committed” to the firm as part of the fundraising round. When it closes, it will bring the total raised by Decawave to over 8m euros.
- from the Irish Independent