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GIMV invests USD 3 million in Israeli technology start-up Oree
GIMV announces its investment in Oree, an early-stage Israeli fabless technology company founded in 2004. The company is developing an innovative optical packaging solution for the Light Emitting Diode (LED) industry. GIMV co-invests USD 3 million together with the Israeli venture capital firm Genesis Partners in a USD 7 million series
A financing round.
Founded in 2004, Oree is an early-stage Israeli technology company that develops components of LED-based light display modules. Oree’s advanced lighting technology enables the production of more efficient and more flexible LED-based lighting systems for LCD screens. Moreover, the company’s technology significantly reduces the production costs of LED-based LCD screens, which are less common today due to their high pricing. The company’s technology can also be used for general illumination in the automotive, home appliance, laptop,
and home decorating markets.
Oree means GIMV’s first co-investment with Genesis Partners in Israel, one of the leading technology hotbeds of this world. GIMV’s good relationship with Genesis dates back from 2005, when GIMV decided to commit USD 10 million to Genesis Partners III, and to allocate another USD 10 million for co-investment opportunities with the fund.
Lately GIMV ICT team's also invested in Human Inference (NL), Aventiv (BE), Liquavista (NL), Virtensys (GB), CoreOptics (DE), Clear2Pay (BE) and Xanadu Wireless (NL).
For more information, please contact:
Mr. Frank De Leenheer - Investor Relations Manager GIMV
Tel: +32 3 290 22 18 - E-mail: email@example.com
Mr. Alex Brabers – Executive Vice President GIMV ICT
Tel: +32-3-290 21 55 – E-mail: firstname.lastname@example.org
Further information on Oree can be found in the attached press release.