2004
2005
Kernel Capital invest €100k and Chip Sensors as a limited company is established
2005
Dr. Daniel McCaughan of Kernel Capital joins the Board
2007
Receipt of Frost & Sullivan Technology Award raises industry profile
2007
Technology validation from Tyndall National Institute on 4” wafers & Cypress Semiconductor on 8” wafers
2009
First public demo of technology at Global Sensors Expo, Kernel Investment at €1.9m
2009
Chip ‘taped out’ and first 100 samples received – they work!
2010
Company acquired by Silicon Laboratories returning 33% IRR
I believe the role of a good VC goes far beyond, providing money and the corporate advice that is available from accountants, banks, and other investors. Kernel Capital certainly brought this, more importantly they brought hands on support and real strategic value to ChipSensors. When the board made the decision to sell, it was clear to Silicon Labs that Kernel was prepared to continue to fund. This really strengthened our hand to get an all cash sale. This is where the VC-as-director brings credibility and professionalism to negotiations that are simply impossible for the founders/promoters. Kernel carried out this role superbly.
Tim Cummins, Founder & CEO, ChipSensors