GreenPeak Technologies secures €13M (US$19M) in Series B funding
Robert Bosch Venture Capital joins existing investors to accelerate growth of GreenPeak
Utrecht, The Netherlands, 29 October 2009 - GreenPeak Technologies, a leading fabless semiconductor company offering innovative ultra low power wireless and battery-free data communication technologies for consumer electronics and sense and control applications, today announced the closing of a Series B financing round. This financing round totaling €13 ($19) million of venture funding, led by Gimv and Robert Bosch Venture Capital and supported by DFJ Esprit, Motorola Ventures and Allegro Investment Fund will provide the company with the necessary funds to finance its growth in the coming years.
Cees Links, CEO for GreenPeak Technologies stated, “Securing new funding in this challenging financial climate shows the market potential of GreenPeak’s technology and applications. We are very proud that a world-class company like the Bosch Group via its VC organization is sharing the vision with our existing investors that GreenPeak’s wireless IEEE802.15.4 and ZigBee technology will create a whole new class of wireless products for home, building and industrial automation. Since the company’s establishment we have achieved a series of technology breakthroughs and we have developed very significant customer traction in Europe, the USA as well as in the Asia Pacific region. With this funding the company will be able to expand its distribution channels and ramp volume.”
Dr. Claus Schmidt, Managing Director with Robert Bosch Venture Capital, is joining the GreenPeak Board of Directors as a new member. "I’m very excited with our investment in GreenPeak," Mr. Schmidt says, "Bosch covers many fields in home, building and industrial applications and recognizes the potential of wireless sense and control networks in these fields. GreenPeak has impressed us with their clear market vision as an innovator in the wireless and battery-free sense and control networks. I see their enormous potential and their technology lead."
“GreenPeak has progressed rapidly since we first invested in 2006 and we’re excited to continue our support.” said Elderd Land, Partner of Gimv, lead investor. “GreenPeak is selling breakthrough technology for remote controls for consumer electronics and has excellent customer traction establishing a platform for home automation, hence creating a new wireless wave of applications. We are happy to continue to support them in their transition from a strong start-up into a major industry leader.”
GreenPeak is a fabless semiconductor company and is a leader in ultra low power wireless and battery-free communication technology for consumer electronics, and wireless sense and control applications. This revolutionary technology, based on the IEEE 802.15.4/ZigBee wireless networking standard, utilizes energy harvesting to facilitate battery-free operation in a totally wireless environment, without the need for either communications or power connectivity.
GreenPeak was selected by the World Economic Forum as a 2009 Technology Pioneer, in the “energy” category, for its accomplishments as an innovator of the highest caliber, involved in the development of life-changing technology innovation and with the potential for long-term impact on business and society.
GreenPeak is based in Utrecht - The Netherlands and has offices in Belgium, Japan and Korea.
GreenPeak is backed by venture capitalists: Gimv (Belgium), DFJ Esprit (UK), Robert Bosch Venture Capital (Germany), Motorola Ventures (USA) and Allegro Investment Fund (Belgium).
For more information, please visit www.greenpeak.com
Gimv is a European investment company with nearly 30 years of experience in private equity and venture capital. The company is listed on NYSE Euronext Brussels and currently manages around EUR 1.7 billion of assets (including third party funds).
Gimv undertakes buyouts and provides growth capital to established companies. Local teams in Belgium, France, The Netherlands and Germany concentrate on these activities. Gimv-XL provides growth financing to larger growth companies in Flanders. Gimv makes venture capital investments in high tech sectors through its specialist teams in Life Sciences, Technology and Cleantech.
About DFJ Esprit
DFJ Esprit is a leading cross-stage venture capital firm that invests in European technology and media companies. Members of the DFJ Esprit team have been active in technology investing since 1985 and have experience of investing in over 165 companies and generating strong returns for investors through building valuable companies alongside the founders and management teams.
The DFJ Esprit partners have invested in many of Europe’s most successful venture exits of recent years, including Buy.at, Alphamosaic, KVS and Blackspider. DFJ Esprit is the European partner for the Silicon Valley based Draper Fisher Jurvetson (DFJ) Global Network of venture funds, the largest such network in the world with $6bn under management and offices in 30 cities spanning four continents.
About Robert Bosch Venture Capital GmbH
Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture company of the Robert Bosch GmbH, one of the largest private companies worldwide with more than €45.1 billion ($60 billion) of sales in 2008. Founded in 1886, Bosch is a leading global supplier of automotive, industrial technology, consumer goods and building technology.
RBVC invests in start-up companies either directly or via venture capital funds on a worldwide basis. Investment focus: technology companies along the line of Bosch current and future business. RBVC provides capital for minority stakes in start-ups from early to expansion stage.
Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola (NYSE: MOT) had sales of US $30.1 billion in 2008.
About Allegro Investment Fund
Allegro Investment Fund N.V. is a Leuven-(Belgium) based open-end seed and early stage capital investment fund, focusing on high-tech ventures. The fund combines more than 40 years of relevant business experience in high-tech start-up and early stage management. Allegro invests in disruptive technologies managed by professional teams aiming at a significant and world-wide market. Allegro's shareholders are Captains of Industry with a wide variety of sector backgrounds.