€1.7m in funding to create 30 jobs

Cork: Ferfics, a Cork-based company specialising in the development of components for mobile phones and wireless devices, has secured €1.7 million of new equity funding leading to the creation of 30 new jobs.

The investment is being led by The Ulster Bank Diageo Venture Fund, managed by NCB Ventures. Investment will also be provided by The AIB Seed Capital Fund, managed by Enterprise Equity Venture Capital Group, as well as by Enterprise Ireland.

Founder and chief executive of Ferfics, Eugene Heaney, says the technology is highly innovative and attractive to mobile phone manufacturers worldwide.

“The new equity funding will enable us to commence full production of our products and bring these to market, which is a very significant milestone for the company.”