With $19 million in fresh funding, Netherlands-based GreenPeak Technologies is ready to go. The company completed its Series B venture capital financing round, which was led by European investor Gimv and Robert Bosch Venture Capital. DFJ Esprit, Motorola Ventures and Allegro Investment Fund also participated.
GreenPeak plays in the semiconductor space, offering ultra-low power wireless and battery-free data communication technology for companies in consumer electronics, specifically sense and control applications.
Cees Links, GreenPeak’s CEO, said, “Securing new funding in this challenging financial climate shows the market potential of GreenPeak’s technology and applications. With this funding the company will be able to expand its distribution channels and ramp volume.”
Through the deal, Dr. Claus Schmidt, managing director with Robert Bosch Venture Capital, will take a spot on GreenPeak’s board of directors. “GreenPeak has impressed us with their clear market vision as an innovator in the wireless and battery-free sense and control networks,” he said, “I see their potential and their technology lead.” Robert Bosch Venture Capital is a heavy hitter, with worldwide sales of $60 billion last year.
Gimv’s Elderd Land, partner, said, “GreenPeak is selling breakthrough technology for remote controls for consumer electronics and has excellent customer traction establishing a platform for home automation, hence creating a new wireless wave of applications.” Gimv focuses on venture capital in the life sciences, cleantech and technology sectors.