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The company has announced that it is expanding its global workforce by more than 100 employees.
Semiconductor manufacturer IceMos Technology has raised $22m in a Series E funding round to expand its presence in Northern Ireland. The round was led by London-based 57 Stars with participation from early-stage US investors, and raised the company’s market cap to $110m.
IceMos was founded in Northern Ireland in 2004 by Ballymena-born Samuel Anderson. It is developing energy-efficient silicon power devices, called mSJMOS, using its patented semiconductor technology.
The Series E round included $7.5m from led investor 57 Stars. With the latest funding, IceMos hopes to expand strategic manufacturing in Northern Ireland, device design capability, applications engineering, and worldwide marketing and sales as it prepares to launch mSJMOS platforms.
In addition, IceMos announced that it is expanding its global workforce by more than 100 employees, having recently hired Niall Lyne as chief operating officer and executive VP of global sales.
The company is headquartered in Arizona where it has an innovation centre, along with a manufacturing centre in Northern Ireland and a design centre in Japan.
Samuel Anderson, founder and CEO of IceMos Technology.
“Our sensing and power technologies are paving the way for more energy-efficient and CO2-saving solutions that support decarbonisation,” said Anderson, MBE, also the company’s CEO.
“Products based on this advanced technology represents a new class of semiconductors, essential to serve the efficiency demands of the massively complex market segments like artificial intelligence, internet of things, big data, renewables wind and solar, electric vehicles and aerospace applications.”
The secretary of state for Northern Ireland Hilary Benn said that the country’s track record of supporting business development makes it an attractive destination for businesses of all sizes.
In 2023, first-time investors into IceMos attended the Northern Irish Investment Summit, which hosted around 200 investors from across the world to visit Belfast. The event was aimed at raising interest in inward investment into the country.
“Northern Ireland has huge potential for significant economic growth, so it’s great to see IceMos secure this funding as a result of the Northern Ireland Investment Summit, leading to investment and job creation,” Benn added.
While Hugh Griffin, the company’s chief sales officer and chief strategy officer said: “This investment will further strengthen our manufacturing excellence in Belfast, expand our global workforce, and deepen our export footprint – already serving hundreds of customers worldwide.”
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