Lightstorm deal to fund growth

The founders of Toucan Technology, which was bought for €25 million in 2000, have raised €5 million for a new venture, Lightstorm Networks.

Lightstorm, a one-year-old semiconductor design firm raised the funding from Trinity Venture Capital and Delta Partners in Dublin. Existing investors, including Enterprise Ireland and the Western Development Commission, also reinvested in the firm.

Bryan Campbell, co-founder and chief executive of Lightstorm, said the company would expand and have its first ...