HAYWARD, CA, RayVio, an advanced health and hygiene company, announced that it has closed new funding rounds of in total $26 million led by IPV Capital and Tsing Capital.
RayVio will use the new funding to scale production to meet global consumer demand for protection against germs in water and environments. RayVio's powerful Ultraviolet (UV) LED technology enables compelling new health and hygiene products, such as point-of-use water disinfection, and creates new markets and revenue streams for original equipment manufacturer (OEM) partners around the world.
'Consumers in too many countries lack control over major environmental health risks that lurk in everything from drinking water to hospital care,' said Dr. Robert C. Walker, CEO of RayVio. 'RayVio's powerful and efficient technology protects against these threats and provides peace of mind so people can go about their day safely. With this investment, we will scale our technology and expand our partnerships to meet soaring global demand for safe water and environments.'
More than 3.4 million people die annually from water-related diseases globally, and one in 25 hospital patients have at least one healthcare-associated infection. Existing cleaning solutions are often ineffective, while today's ultraviolet technologies either include dangerous mercury or are not powerful or efficient enough to safely disinfect. Through its unique UV LED technology, RayVio protects against germs in water, surfaces and air. Its compact, portable and versatile characteristics enable flexible applications - from automated surface and air disinfection to point-of-use water treatment - in a variety of markets.
'RayVio is poised to transform daily life in places like China, where residents often lack access to basic necessities like safe water and hospitals,' said Alex Banh of IPV Capital.
'RayVio's proven technology and deep domain expertise are second to none,' said Don Ye, founder and managing partner of Tsing Capital. 'The company is enabling a new ecosystem of consumer disinfection products that were never possible before.'
Existing investors including DCM Ventures, Capricorn Investment Group, Applied Ventures, Augment Ventures, Tolero Ventures and New Ground Ventures also contributed to the rounds. The capital will enable the company to expand its world-class manufacturing front-end and backend capacity and double its workforce, while continuing to deliver on its leading product performance roadmap through research and development. It is also expanding its global sales and marketing capabilities, application support and distribution channels.
With the new funding, both Alex Banh of IPV Capital and Don Ye of Tsing Capital will join the board of directors, bringing a wealth of experience in Asian emerging markets and technologies.
About RayVio Corp.
RayVio Corp. is an advanced health and hygiene company that delivers clean water and environments. RayVio helps protect billions from germs and creates new markets and revenue streams by enabling a new class of products. Its powerful and efficient UV LED technology can be integrated into a variety of applications, powering versatile on-demand solutions that give consumers control over health without chemicals or costly consumables. To learn more, please visit www.rayvio.com.
About IPV Capital
IPV Capital is an early growth venture capital fund that invests in high-growth technology sectors including software, clean-tech, technology services and semiconductors. With offices in Beijing, Shanghai and Silicon Valley, IPV Capital brings its wealth of management and technology development experience to mentor a new of breed of entrepreneurs with global aspirations. The IPV Capital team has a solid track record in successfully growing technology startups in China and beyond, making it the ideal go-to partner for investment in the country. For more information, please visit www.ipvcap.com.
About Tsing Capital
Established in 2001, Tsing Capital is the leading clean-tech venture capital firm in China. Through its China Environment Fund series, Tsing Capital works intimately with its portfolio companies across China in areas of new energy, energy efficiency, environmental protection, cleaner production, sustainable transportation, new materials and sustainable agriculture. For more information, please visit www.tsingcapital.com.
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