Kernel invests in Cirdan

While the size of the investment was not disclosed, Kernel described the investment as "significant".

The firm invested via the Bank of Ireland Kernel Capital Growth Fund, a £24m vehicle that invests in SMEs based in Northern Ireland.

Cirdan has been backed in the past by regional business development agency Invest Northern Ireland, which invested in the company via the Co-Fund NI and Qubis vehicles, the latter of which is the investment arm of Queen's University Belfast.

Company
Founded in 2010, Cirdan is headquartered in Lisburn, with additional offices in Canada and Australia.

The company has developed camera and image-processing technology for imaging diagnostics, using x-ray, near-infrared and visible-light wavelengths.

It is designed for use by large hospitals, laboratories and clinics.

People
CEO Hugh Cormican and CTO Stephen Dunniece are the founders of Cirdan. Kernel senior investment executive Allen Martin has joined the company's board of directors.

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