RayVio Corp., a leading health and health company, announced that it had completed a new round of $26 million in financing led by IPV Capital and Tsing Capital. RayVio will use the funds to expand production to meet the needs of consumers worldwide for drinking water and environmental disinfection. RayVio's powerful ultraviolet (UV) LED technology can be used for attractive new health and hygiene products, such as the disinfection of drinking water, and to create new markets and revenue sources for global original equipment manufacturers (OEM) partners.
Dr Robert C. Walker, chief executive of RayVio, said: 'Consumers in too many countries lack control over major environmental health risks, from drinking water to health care. RayVio's powerful and effective technology can help combat these threats and make people feel at ease and live safely. With these funds, we will upgrade our technology and expand our partnerships to meet the surging global demand for drinking water and environmental safety.
More than 3.4 million people worldwide die from drinking water-related diseases every year, and one in 25 hospital patients suffers from at least one medical-related infection. Existing cleaning solutions are often ineffective, and today's ultraviolet technology either contains dangerous mercury or is ineffective to achieve safe disinfection. RayVio's unique UV LED technology can kill bacteria in drinking water, surface and air. It is compact, portable and versatile. It is suitable for various scenarios in various markets, from surface and air auto-disinfection to point water treatment.
'RayVio is poised to change people's daily lives in places like China, where people often lack basic necessities such as safe drinking water and medical care,' said Alex Banh of Infotec.
'RayVio's mature technology and deep industry expertise are unparalleled,' said Ye Dong, founder and managing partner of Qingyun Venture Capital. The company will help to achieve an ecosystem of consumer disinfection products that has never been seen before.
Existing investors, including DCM Ventures, Capricorn Investment Group, Applied Ventures, Augment Ventures, Tolero Ventures and New Ground Ventures, also followed in this round. These funds will allow the company to expand its world-class production front-end and back-end capabilities, double the number of employees, and continue to achieve its leading product performance roadmap through R&D. The company will also expand its global sales and marketing capabilities, application support and distribution channels.
After this round of financing, Alex Banh of TraHK and Ye Dong of Qingyun Venture Capital will join the board of directors to contribute their rich experience in emerging markets and technology in Asia.