UV LED solutions provider raises USD9m to fund growth
Existing investors DCM Ventures and Capricorn Investment Group also contributed to the round. The capital will be used to accelerate RayVio’s go-to-market strategy, grow its team, and enable mass adoption of UV LED solutions in the industrial, commercial and consumer sectors.
"RayVio’s patented technology is poised to disrupt the entire UV market by creating products that truly impact how we live – from purifying drinking water, to treating major illnesses, to instantly disinfecting surfaces any time, any where," explained Dr. Robert C. Walker, CEO of RayVio. "This oversubscribed round is a great validation of our break through technology and it will enable us to significantly expand our team and reach critical markets globally."
RayVio’s solutions employ the highest performance, lowest cost UV LED based systems. Today the company’s solutions provide up to ten times the performance increase over existing products available on the market today. The technology enables a host of consumer applications previously limited by cost and performance – ranging from hand-held portable disinfection devices to point-of-use water disinfection faucets that enable safer drinking water for everyone.
"UV LED light sources will significantly affect the use of UV disinfection technology by enabling a myriad of affordable, point-of-use disinfection applications, thus improving public health better than before," said Dr. Andreas Kolch, Managing Director and Partner, Hytecon GmbH, and former President of the International Ultraviolet Association (IUVA).
Until now, LEDs for UV applications have been limited to niche markets due to low performance, high cost and compromised reliability. RayVio’s novel, patent-protected materials and technology, originally developed at Boston University by co-founders Dr. Yitao Liao and Prof. Theodore Moustakas, unleash ‘Haitz’s Law’ for UV LEDs; the same Haitz’s Law that made the mass adoption of cost-effective visible LEDs possible in the display and lighting markets.
Related articles and links:
www.rayvio.com
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