Decawave, a Dublin-based developer of semiconductors, has closed a $4.5 million (€4 million)funding round from angel investors, bringing the total investment to $30 million.
DecaWave chief executive Ciaran Connell said the funding will be used to quicken the development of the company's next–generation technology to address the fast-growing demand in the consumer market.
“This latest funding round allows us to accelerate the development of our technology and expand our company to meet our customers’ expectations.”
He said the Internet of Things (IoT) —with its scale— is driving a demand for highly-customised chips, each of those delivering the best feature/power/cost combination for a specific application.
“To fully embrace this IoT wave, we want to have several chips simultaneously in design which will require us to treble our workforce,” he added.
Mr Connell said DecaWave will seek a minimum of €10 million in a funding round opening early 2016. This round will be opened to angel investors but also, for the first time, to institutional investors.
Headquartered in Dublin, DecaWave offers wireless technology for precise location and connectivity applications that can identify the specific location of any object, person, or place guaranteeing indoor location accuracy within 10cm.
