Startup gains funds for LED lighting IC
September 12, 2011 // Nicolas Mokhoff
Ikon Semiconductor Ltd., a Dublin-based fabless semiconductor company chasing LED lighting opportunities, has received an overall investment of 800,000 euros (about $1.1 million) from the Bank of Ireland Seed and Early Stage Equity Fund.
The syndicated investment includes 400,000 euros (more than half million dollars) by the Bank of Ireland Seed Fund with the remainder of the funds provided by Simple.ie Green BES Fund, Enterprise Ireland and private investors.
Startup Ikon is addressing the LED lighting industry. The company is focused on the residential and commercial LED bulb replacement market which industry watchers expect to grow exponentially from 80 million units in 2011 to 430 million units by 2013. Ikon will use the funds to support the development of its single-chip power converter, which resides within the bulb and powers the light-emitting diode light.
“Ikon Semiconductor Limited is a true example of how an investment of this type can support a home-grown Irish company to strategically grow in the LED lighting market, which is critical for the company and also as part of Ireland's economic recovery,” Donal Duffy, Head of Enterprise Ireland Relations, Bank of Ireland, in a statement.
“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 capitalize on this market potential,” said Conor McAuliffe, CEO of Ikon Semiconductor.
The company was founded by semiconductor industry veterans who are applying proprietary digital control techniques to replace traditional analog control methods. Ikon's first product, which will be available in early 2012, will target the residential and commercial bulb replacement market.
Over 12 billion incandescent light bulbs are sold annually, lighting accounts for almost 19 percent of global energy consumption which equates to the output of approximately 1000 large electric power plants, according to International Energy Agency (IEA).
The engineering desk-to-bench ratio
November 21, 2014
Dennis Feucht discusses the right and wrong, senior and junior ways to organize the theoretical and practical work of an ...
Rohm's European Design Center in growth phase
Combo inertial sensor market on 19% CAGR, says Yole.
US, China pushing industrial chip market growth, says IHS
LA Auto Show: Hydrogen fuel cell drive is back
Opening up the IoT data flood gates
November 21, 2014
Only a few days after their LoRa long range communication demo at electronica, IBM and Semtech are making the LoRa MAC protocol ...
Polarizing filter reduces energy drain from smartphone displays
From warm to cool white: colour-temperature tunable LEDs
System provides high-volume solution for flexible OLED displays
- Halogen-free options and increased performance for terminal blocks
- Wireless Power User Guide
- Secure is the New Smart
- 5 Best Practices for Designing Flexible Test Stations
InterviewFreescale CEO: 'IoT isn't just buzz'
Coming after the solid third quarter results that produced higher operating margins and improving cash flow, Freescale Semiconductor's CEO Gregg Lowe had every reason to be chipper and lively when EE Times ...
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
This month, Cherry is giving away five of its Energy Harvesting Evaluation kits, worth over 266 Euros each, for EETimes Europe's readers to win. Cherry's energy harvesting technology benefit mostly applications where a complex wire assembly and/or batteries would be inappropriate.
The required RF-energy is created by the mechanical actuation of the switch and the data is transmitted...MORE INFO AND LAST MONTH' WINNERS...
December 15, 2011 | Texas instruments | 222901974
Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.
Most popular news
- Could magnesium battery innovation end lithium's dominance?
- From warm to cool white: colour-temperature tunable LEDs
- Li-Fi communication module wirelessly transfers data at 1-Gbps
- Supercapacitor innovation promises panel-powered cars in five years
- Rebranding the revolution: the future of IoT is embedded