GreenPeak Technologies secures €13M (US$19M) in series B funding
ROBERT BOSCH VENTURE CAPITAL JOINS EXISTING INVESTORS TO ACCELERATE GROWTH OF GREENPEAK
Utrecht, The Netherlands, 29 October 2009 - GreenPeak Technologies, a leading fabless semiconductor company offering innovative ultra low power wireless and battery-free data communication technologies for consumer electronics and sense and control applications, today announced the closing of a Series B financing round. This financing round totaling €13 ($19) million of venture funding, led by Gimv and Robert Bosch Venture Capital and supported by DFJ Esprit, Motorola Ventures and Allegro Investment Fund will provide the company with the necessary funds to finance its growth in the coming years.
Cees Links, CEO for GreenPeak Technologies stated, “Securing new funding in this challenging financial climate shows the market potential of GreenPeak’s technology and applications. We are very proud that a world-class company like the Bosch Group via its VC organization is sharing the vision with our existing investors that GreenPeak’s wireless IEEE802.15.4 and ZigBee technology will create a whole new class of wireless products for home, building and industrial automation. Since the company’s establishment we have achieved a series of technology breakthroughs and we have developed very significant customer traction in Europe, the USA as well as in the Asia Pacific region. With this funding the company will be able to expand its distribution channels and ramp volume.”
Dr. Claus Schmidt, Managing Director with Robert Bosch Venture Capital, is joining the GreenPeak Board of Directors as a new member. "I’m very excited with our investment in GreenPeak," Mr. Schmidt says, "Bosch covers many fields in home, building and industrial applications and recognizes the potential of wireless sense and control networks in these fields. GreenPeak has impressed us with their clear market vision as an innovator in the wireless and battery-free sense and control networks. I see their enormous potential and their technology lead."
“GreenPeak has progressed rapidly since we first invested in 2006 and we’re excited to continue our support.” said Elderd Land, Partner of Gimv, lead investor. “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. We are happy to continue to support them in their transition from a strong start-up into a major industry leader.”