Fabless semi-conductor company DecaWave has announced the closure of a $30 million funding round from venture capital funds, Enterprise Ireland and existing investors.
Led by Atlantic Bridge Ventures, the round also includes the China Ireland Growth Technology Fund, ACT Venture Capital and ZZ Ventures and brings total funding to date for DecaWave to $60 million.
The company, which recently opened offices in Silicon Valley, California and Shenzhen, China, also announced the creation of an additional 100 posts over the next three years, bringing the overall headcount to 150 across the company’s operations in Ireland, France, China and South Korea. The posts will be in engineering, R&D, sales & marketing, and applications, with recruitment already underway.
DecaWave offers Ultra-Wideband (UWB) wireless technology that provides precise location and connectivity for applications that can identify the specific location of any object, person, or place within centimeters. By enabling advanced analytics for factory automation, logistics, hospitals to securing car access communication to delivering new forms of user interface in robotics and connected homes, the DecaWave technology has already revolutionized many industries.
Founded in 2007 by CEO Ciaran Connell and CTO Michael McLaughlin, DecaWave has seen significant traction in the market, with more than 3,000 customers.
Global excitement around DecaWave’s technology was reflected in early December when it was selected as the ‘Start-Up to Watch Award’ winner at the prestigious Global Semiconductor Alliance (GSA) Private Awards Committee in California as the 2017. The awards sees venture capitalists and select industry entrepreneurs identify a company that has demonstrated the potential to positively change its market or the industry through the innovative use of semiconductor technology or a new application for semiconductor technology.
“The adoption of DecaWave technology in high-volume consumer and automotive applications is a major milestone for DecaWave,” said Ciaran Connell, DecaWave CEO and co-founder.
“Our vision has always been that our technology would play a key role in enabling the Internet of Things by accurately providing the ‘Where’ functionality for applications. This location capability is key to driving efficiencies in industrial markets, designing new context-based user interfaces in consumer applications, guiding robots or building secure communication protocols. This funding allows us to accelerate our technology development to offer even tighter integration, lower power and more affordable solutions.”
Gerry Maguire, general partner of Atlantic Bridge, which led the investment and jointly manages the China Ireland Growth Technology Fund, said: “We have a track record of supporting Irish companies through key stages of development and helping them commercialise their technology globally. DecaWave is among the most exciting companies we have worked with and is already making significant market inroads with leading global brands. Its potential is vast and we believe it will become the most talked about Irish fabless semiconductor companies of the decade.”
TechCentral Reporters
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