HAYWARD, Calif.--(BUSINESS WIRE)--RayVio, a leader in transforming UV LED based solutions to create a cleaner and safer world, today announced that it has emerged from stealth mode and raised $9.3 million in Series B funding, with new investors including Applied Ventures, Augment Ventures, New Ground Ventures and Tolero Ventures. 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," said 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 break through barriers by employing a fundamentally new and different approach, enabling the highest performance, lowest cost UV LED based systems. Today its solutions provide up to 10 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).
"RayVio’s technology is coming to market at a critical time," said Pete Moran, General Partner, DCM Ventures. "Access to clean water and the growing prevalence of infectious disease are creating a greater need for solutions that are portable, cost effective and address these problems. RayVio has hit the sweet spot of this formula with products that are now proven, and with the partners and customers that can scale globally."
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.
RayVio continues to gain global recognition for their performance achievements across a variety of UV markets. RayVio, its partners and customers, will release a series of product announcements later this year.
RayVio is transforming how we use UV today by offering consumer disinfection solutions that are higher performance, require less power, are portable, durable, and cost effective.
RayVio’s patent protected UV LED technology and materials, originally developed at Boston University by co-founders Dr. Yitao Liao and Prof. Theodore Moustakas, are highly differentiated, delivering performance at price points which are enabling the mass adoption of UV LED solutions in the industrial, commercial and consumer sectors.
RayVio’s novel UV LED technology will make possible the highest performance, most cost effective solutions for industrial curing, for UV medical treatment devices to treat ailments ranging from vitamin D deficiency to Multiple Sclerosis, and for the UV water, surface and air disinfection markets.