GreenPeak Technologies secures further funding to finance growth plans

Winchester, UK - Fabless semiconductor company, GreenPeak Technologies (Utrecht, The Netherland) that is offering innovative ultra low power wireless and battery-free data communication technologies for consumer electronics and sense and control applications, has closed a Series B financing round.

The financing round totaling Euros 13 million ($19m) 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 commented, "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. Schmidt said, "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."

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