RayVio emerged from stealth mode with a $9.3 million Series B round it plans to use on developing its UV LED technology.
Participants in the round included new investors Applied Ventures, Augment Ventures, New Ground Ventures and Tolero Ventures. Existing backers DCM Ventures and Capricorn Investment Group also participated.
“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,” CEO Robert Walker said in prepared remarks.
“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," Walker said.
RayVio’s patented UV LED technology was originally developed at Boston University. The Hayward, Calif.-based company said its technology allows it to develop higher performance UV LED products at a lower price point than competing technologies.
The tech could be adapted for UV medical devices for ailments ranging from vitamin D deficiency to multiple sclerosis, RayVio said.