The funding is described as being a multi-million pound deal and comes from a London-based investor but neither the exact value, nor the source have been disclosed. The company said the deal values the company with a market capitalization after money of US$101 million (about £80 million).
IceMOS was founded in Belfast, Northern Ireland in 2004. The company is now headquartered in Arizona but retains its manufacturing base in Belfast and has a design center in Tokyo, Japan.
The company said the funding will enable expansion of its Belfast team to more than 100 employees and increase its marketing and sales global footprint as it prepares for an initial public offering of shares in the next 18 to 24 months. Where the company will list its shares was not discussed.
“Our sensing and power technologies are paving the way for more energy-efficient and CO2-saving solutions that support decarbonization,” said Samuel J. Anderson, IceMOS founder and chairman, in a statement. “Adoption in applications such as artificial intelligence (AI), assisted and autonomous driving, data center cloud and edge computing power supplies, rapid chargers for electric vehicles, Low Earth Orbit (LEO) satellites and deep space exploration, are at the tipping point, leading to dynamic market growth. Products based on our technology roadmap represent a new class of semiconductors, essential to serve the efficiency demands of this digital economy market.”
The investment was secured at The Northern Ireland Investment Summit organized by the Department for Business and Trade, the Northern Ireland Office, and Invest Northern Ireland, which hosted around 200 investors from across the world to visit Belfast.