Optical Metrology Innovations, a Cork-based firm that develops tools for the microelectronics and photonics industries, has raised €1 million venture capital funding.
The advanced optical inspection tools it makes will enable semiconductor manufacturers to reduce the time it takes to produce new products and improve yields.
The firm's technology is based on research carried out at the National Microelectronics Research Centre and Dr Pat Kelly, group director for photonics at the centre, has joined the firm as chief technology officer.
The funding round was led by Mentor Capital, the venture capital firm founded by Parthus chairman Dr Mike Peirce, who is also a member of the centre's industry advisory board.
A second unnamed firm also invested.
The two venture capital companies have taken a stake worth up to 25 per cent in the Cork company.
This is the second spin-off company to emerge from the National Microelectronics Research Centre this year and follows its adoption of a strategy to increase its involvement in commercial enterprises.
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