By Brian O’Mahony
Compound semi-conductor company Firecomms has raised €9.6 million in funding involving new and existing shareholders. Firecomms is based in Cork city and is involved in photonics, which is the most efficient way of passing large databases though the medium of light.

Firecomms’ technology is unique and provides customers with a competitive advantage in high-volume consumer electronics, including handheld devices, mobile phones, personal computers and laptops.

All of the group’s 16 workers hold doctorates and a further eight will be added to the team over the next three months as the group researches and produces new solutions for clients.

The €150 billion-a-year photonics market is projected to grow to €500bn by 2013, as data transmission on handheld devices becomes an increasing part of the growing telecommunications market, said a Firecomms spokesman.

Recently the group launched two products for the German market.

Renault, the French car manufacturer, has used one of its transmission devices in a concept car initiative.

That is due to go to into mass production in the near future and is a further endorsement of what the Cork firm is doing in this highly competitive market, said the spokesman.

The group has a market presence in Europe, Japan and the US and is a leader in the development of devices to drive plastic optical fibre, a low-cost alternative to copper cabling.

Two new investors have joined the company: ACT Venture Capital of Dublin, and Alps Electric North America, an important strategic investor and key customer for Firecomms.

Atlantic Bridge Ventures, the company’s anchor investor, also invested in this round and remains fully committed to the group.