OptoGaN raises EUR 5m in funding for GaN-based LED technology
A Finnish/German company has received venture funding to develop GaN LEDs.
OptoGaN Oy of Helsinki, Finland raised EUR 5 million in its latest round of funding led by the Nordic Venture Fund, Via Venture Partners. Existing investors VNT Management Oy / Power Fund I and Finnish Industry Investment Ltd also participated in the round.
OptoGaN says the funding will be mainly used to introduce its LED chips into the general illumination market, although it has not revealed any details of the technology.
Founded in 2004 by two Russian Physicists, OptoGaN is a Finnish and German company with GaN-based LED technology. The company operates a research lab at the Helsinki University of Technology and a pilot and production facilities in Dortmund.
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