Tolero Pharmaceuticals and Applied Materials returned to back RayVio's series C round, following their participation in a $9.3m series B in March 2015.
US-based ultraviolet (UV) LED technology developer RayVio has closed a $26m series C round featuring semiconductor manufacturing equipment producer Applied Materials.
The round was co-led by venture capital firms Tsing Capital and IPV Capital, while DCM Ventures, Tolero Ventures, Capricorn Investment Group, Augment Ventures and New Ground Ventures also contributed. Applied took part through its Applied Ventures unit.
RayVio, a spinout of Boston University, has created technology that exploits UV light to disinfect water at the point of use. The…
