Dublin-based Ikon Semiconductor has secured an €800,000 investment from a syndicate of backers led by a €400,000 contribution from the the Bank of Ireland Seed and Early Stage Equity Fund, which is managed by Kernel Capital.

Other investors in this round include the Simple.ie Green BES Fund, Enterprise Ireland and private investors.

Ikon Semiconductor is a fabless semiconductor company developing solutions for the LED lighting industry. It has developed a single-chip power converter, which resides within the bulb and powers the LED light while improving efficiency, cost, power factor, dimmer compatibility and size.

Ikon is focused on the residential and commercial LED bulb replacement market which is expected to grow from 80 million units in 2011 to 430 million units by 2013.