Amphion announce closure of funding round

Queens University spin-off Amphion has announced the closing of a $5m (€4.37m) funding round.

ACT Venture Capital led the round, which included investment from existing investors Apax Partners’ Funds and Enterprise Equity and new investors Invest Northern Ireland.

The company, which is headquartered in Belfast, is a leading provider of semiconductor intellectual property.

Its licensees include Matsushitsu, Sony, NEC and Toshiba.

Amphion currently employs 38 people.

Dr JG Doherty, CEO of Amphion, commented: "These funds will enable us to expand sales and support of the innovative solutions that are giving Amphion substantial traction among the industry’s influential leaders.

"Moving forward, our focus is on delivering the high value solutions from our strategic roadmap that customers have identified as essential to their own future success."