Applied Ventures Invests in UV LED Startup
On behalf of Applied Ventures, I want to wish everyone a happy and prosperous lunar new year.
2014 marked an exciting and active year, where Applied Ventures closed four new investments in early stage technology companies. Since forming in 2005, approximately $190 million has been invested in more than 62 portfolio companies, fueling a steady track record of successful ventures around the globe, including two IPOs and the acquisition of several portfolio companies.
The most recent investment is RayVio Corporation, a solid state ultraviolet (SSUV) light emitting diode (LED) startup first developed at Boston University and backed by some of the world’s leading investors. RayVio provides semiconductor-based UV LED light sources for safe point-of-use disinfection products and applications for water, air, food, surfaces and other areas across the industrial, consumer and digital health sectors.
The company’s patented power-dense UV LED technology and materials are compact, instantly available, robust, mercury-free, energy-efficient, and long-lasting, and have the potential to accelerate and expand large-scale adoption of UV LEDs to benefit society. Possible uses include improving the effectiveness and accessibility of water disinfection techniques in developing countries, as well as treating health ailments, extending food shelf life via enhanced refrigerator systems, and printing and painting applications that conserve energy by avoiding the need for always-on mercury lamps or heat curing.
RayVio’s solutions have the potential to break through existing industry barriers by employing a fundamentally new approach, enabling improved performance and power output at lower cost. Currently, its solutions are expected to provide up to 10 times the performance increase over existing products available on the market. The technology has the potential to enable a host of consumer applications previously limited by cost and performance.
Applied Ventures will help RayVio accelerate product development from prototype to commercialization by extending the company’s core competencies in precision materials engineering and broad market expertise to enable mutual success. RayVio’s first product release is expected later this year.
The investment is a prime example of Applied Ventures’ mission to fuel growth by advancing open innovation in emerging technology markets to address key industry challenges. We continue to identify and accelerate innovation around the world where our precision materials engineering capabilities can extend to new growth markets in the semiconductor, display, lighting, energy storage and conversion, and clean energy sectors.
For more information about Applied Ventures and upcoming events, visit the Applied Ventures website.