Boston spin-out RayVio focused on ultraviolet disinfection technology secures $9.3m
US-based ultraviolet (UV) technology developer RayVio, a spin-out of Boston University, has raised $9.3m in a series B round featuring Applied Ventures, the corporate venturing unit belonging to semiconductor manufacturing equipment maker Applied Materials.
The round also included contributions from Tolero Ventures, the corporate venturing arm of pharmaceutical firm Tolero Pharmaceuticals, as well as Augment Ventures, New Ground Ventures, DCM and Capricorn Investment Group. DCM and Capricorn took part in the round as existing investors.
RayVio produces ultraviolet LED disinfection technology it claims performs up to 10 times better than existing disinfection technology, meaning it could hypothetically be utilised in smaller, consumer products such as hand-held, portable disinfection devices or point-of-use water disinfection taps.
Robert C. Walker, RayVio’s chief executive, said: “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 anytime, anywhere.
“This oversubscribed round is a great validation of our breakthrough technology and it will enable us to significantly expand our team and reach critical markets globally.”
A version of this article first appeared on our sister site Global Corporate Venturing.
