Amsterdam investor Momentum Global Ventures is putting more than €5m into SunLED Life Science for an additional stake of more than 10%, deepening a majority position it already held.
Credit: this report is based on a story first published by M&A (MenA.nl). Read the original at mena.nl.
According to M&A (MenA.nl), Momentum Global Ventures is expanding its majority stake in SunLED Life Science, a Dutch technology company based in Amsterdam. The new capital comes from the company's existing majority shareholder.
The deal
The Dutch business title reports that Momentum is paying more than €5m for an additional stake of more than 10% in the company. Momentum already held a majority of SunLED before this transaction, and the new money adds to that position.
The investment is meant to support the international commercial rollout of SunLED's technology, M&A writes. Both the investor and the company are Amsterdam based, according to the report.
What SunLED makes
SunLED develops LED technology designed to bring the health-related effects of natural sunlight indoors. Its focus areas include building near-infrared light into screens, car interiors and wearable electronics.
The company is a spin-off of Seaborough, a Dutch LED technology business. Among the first products to use SunLED's technology is the SunBooster, a device that emits near-infrared (NIR) light. It is designed to make up for part of the natural sunlight that is missing indoors while people work at a computer or laptop.
The SunBooster is on sale in the United States, the United Kingdom, Germany and the Netherlands, according to the report.
Patents and next steps
SunLED's technology is protected by an international patent portfolio. The company wants to use that portfolio to strengthen its position as it develops and applies near-infrared technology in consumer electronics and other product categories. Momentum's additional investment is aimed at taking that technology to international markets.
Original source: M&A (MenA.nl), "Momentum Global Ventures breidt belang uit in Amsterdams deeptechbedrijf"
