Ferfics, a Cork, Ireland-based company specializing in the development of components for mobile phones and wireless devices, recently raised €1.7m in equity funding.
The round, which was announced in November 2010, was led by The Ulster Bank Diageo Venture Fund, managed by NCB Ventures, with participation from the AIB Seed Capital Fund, managed by Enterprise Equity Venture Capital Group, as well as from Enterprise Ireland.
Established in 2007, the company develops high-tech microchips for radio frequency applications (including cellular, WLAN, WiMax and TV) that are designed to improve the battery life of mobile phones and wireless devices.
Ferfics intends to use the funds to commence full production of its products and bring them to market, and create up to 30 knowledge-based high technology jobs in Cork (click here).
According to Eugene Heaney, founder and CEO of the company, the technology is attractive to mobile phone manufacturers worldwide. Ferfics targets leading international wireless device companies such as Nokia, Apple, Samsung and Motorola, which can use the technology to meet the performance requirements of their products as increasing amounts of information are transmitted to mobile devices.
FinSMEs
29/12/2010