Led · Series E · Apr 2025

IceMOS Technology develops silicon power devices called mSJMOS based on a novel semiconductor technology and holds over 70 patents related to its IceMOS intellectual property. The company is Paradise Valley, Arizona–based and operates a manufacturing center in Northern Ireland, a research innovation center in Arizona, and a design center in Tokyo. It raised $22M in a Series E at a $110M valuation. IceMOS intends to use the funds to expand strategic manufacturing in Northern Ireland and to bolster device design capability and applications engineering. The company also plans to invest the capital in marketing and sales worldwide. No operating metrics beyond the raise and valuation were disclosed in the article.

Led · Equity · Oct 2024

Cirdan develops software and imaging solutions for pathology and laboratory diagnostics, including its flagship ULTRA LIS, a next-generation Laboratory Information System that scales from single-site labs to large multi-site laboratories. The company’s products aim to streamline operations, expedite disease diagnosis, and improve patient outcomes and healthcare efficiency. Cirdan’s solutions are deployed in over 200 clinical laboratories and hospitals across 20 countries and six continents. Headquartered in the UK with offices in Canada and Australia, the company was founded in 2010 in Lisburn, Ireland by Dr. Hugh Cormican and Stephen Dunniece. Cirdan plans to use new funding to accelerate delivery capabilities, expand its specialist team, enhance its product offerings, scale operations, and push further global expansion into new markets. Cirdan Imaging provides diagnostic digital health and imaging solutions designed to enhance and speed up patient clinical pathways and pathology laboratory work. Its platform includes specimen imaging solutions, patient and clinician apps, and a laboratory information system that collects critical information in a lean and fast way to reduce diagnostic time and surface new healthcare insights. The platform integrates with digital pathology and AI and is shown to improve efficiency, agility, control, and visibility in labs. Headquartered in the UK with offices in North America and Australia, the company serves clients in over 150 laboratories and hospitals across 20 countries and six continents. Cirdan is experiencing a period of rapid growth and intends to continue expanding with new innovative products and entry into new international markets. The company is led by Stephen Dunniece. Cirdan Imaging develops imaging and informatics technology aimed at accelerating and enhancing medical diagnosis. Its product portfolio includes the ULTRA laboratory information system (ULTRA LIS) and a suite of medical imaging systems. The company was established in 2010 and has additional offices in Canada and Australia. Cirdan employs 32 people and reports a multi‑million pound annual turnover. Growth has been driven in part by a 2013 acquisition of part of GE Healthcare’s business, which provided access to a blue‑chip global customer base. The company plans to use recent funding to strengthen ULTRA LIS, capitalize on a partnership with Kainos, scale operations, enter new markets and increase export sales. Cirdan Imaging develops, manufactures and supplies innovative medical imaging technology used in the diagnosis and management of disease. The company designs and distributes novel medical diagnostic solutions to healthcare customers. It was established in 2010 by CEO Hugh Cormican and CTO Stephen Dunniece and is based in Lisburn, Northern Ireland. Cirdan has been supported by Invest Northern Ireland through Co-Fund NI and QUBIS. Its customer base includes blue-chip companies in the UK, US, Canada, Australia and the Middle East. The company intends to use the recent investment to continue to expand operations.

Participated · Series D · Feb 2024

Capillary Technologies India is a software product company offering artificial-intelligence-driven, cloud-native SaaS applications that help enterprise customers deepen consumer and channel-partner loyalty. Its platform is deployed globally, targeting large enterprises that want to enhance engagement and retention. For the six months ended September 2025, the company recorded consolidated revenue of ₹359.21 crore, following FY 25 revenue of ₹598.25 crore. To accelerate growth, the company is moving toward a public listing on the BSE and NSE. A portion of the IPO proceeds will come from a fresh issue of shares, providing new capital to the business. Capillary’s upcoming listing is being managed by JM Financial, IIFL Capital Services and Nomura Financial Advisory & Securities (India), with MUFG Intime India acting as registrar. The firm’s strategy centers on expanding its AI-driven loyalty product suite and scaling its global enterprise footprint.

Participated · Series D · Jun 2023

Capillary provides an end-to-end customer loyalty and engagement platform that delivers real-time omnichannel personalization and unified cross-channel strategies. Led by CEO Sameer Garde, the company offers a comprehensive view of consumers and powers loyalty programs for retailers and brands. It currently powers 100+ loyalty programs across 30+ countries and works with over 250 brands, including Tata, PUMA, Shell, Al‑Futtaim, Petron, Domino’s, Kanmo Group, and Marks & Spencer. Capillary has a presence across the United States, India, the Middle East, and Southeast Asia and recently strengthened its position through the acquisition of Texas-based Brierley. The company plans to use new funding for global expansion and to support its mergers-and-acquisitions strategy. Capillary raised $45M in funding to support these plans. Capillary Technologies offers the Intelligent Customer Engagement (ICE) platform to help retailers manage customer data, gain insights and personalize engagement across multiple channels. The platform is designed to drive increased sales and customer loyalty through targeted, omnichannel engagement. Capillary powers more than 150 major brands across 10,000 retail locations and brings instant shopper gratification to over 100 million consumers worldwide. The company emphasizes rapid deployment and easy management of customer data for retailers. Financially, Capillary completed a $14 million Series B round and had previously raised $17 million in Series A financing in 2012 from existing backers. The long-term product focus remains on expanding retailer adoption of its ICE platform.

Led · Equity · Jul 2022

Founded in 2015 and based in Chennai, WayCool operates a full-stack agritech platform that sources, distributes and processes food products while connecting more than 85,000 farmers through its engagement platform Outgrow. It sells fresh produce, staples and dairy under consumer brands including Madhuram, KitchenJi, L’exotique and Freshey’s. The company has raised significant funding prior to the rights issue—about $183 million from investors such as Lightrock, IFC, FMO and 57 Stars—and recently secured venture debt of Rs 110 crore. WayCool's operations span sourcing, distribution and food processing aimed at improving agricultural supply chains between farmers and institutional buyers. In recent months the company has taken steps toward profitability, including workforce reductions of over 200 employees in July 2024, and has experienced several senior leadership departures.