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| Cratlon Raises €300,000 for Wireless Sensor Plans:
Sunday Business Post, Dublin, Feb 20th 2005:
Clare R &D company Cratlon Limited has raised €300,000 through Bank of Ireland Kernel Capital Partners Private Equity Fund, Shannon Development, and private funding. The funds will be used to progress the company's wireless sensor module products and semiconductor roadmap.
Niall Olden, chief executive, Kernel Capital Partners said: "Although very early stage, we are impressed with Cratlon's intellectual property and their technology road map to develop integrated humidity and hydrogen sensors directly on to 0.18um silicon. While this funding round is €300,000, our objective is to follow with more substantial investment when required. The founder Tim Cummins has a strong track record with over a dozen patents to his name, many of which have generated millions in revenue for his former employers".
Cratlon Ltd founder Tim Cummins added: "We already have customer engagement with some large blue-chip companies, and are delighted Bank of Ireland Kernel Capital Partners Private Equity Fund and Shannon Development have come on board. We would additionally praise InterTrade Ireland's Seedcorn Competition, and the BES Seed Capital Scheme for vital early stage assistance".
Cratlon Ltd was a recent winner of the Munster Region Seedcorn competition organised by Inter Trade Ireland.
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