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At the end of May, OptoGaN Oy of Helsinki, Finland raised €5m in its latest round of funding led by the Nordic Venture Fund, Via Venture Partners. Existing investors VNT Management Oy / Power Fund I and Finnish Industry Investment Ltd also participated in the round. OptoGaN says the funding will in the main be used to introduce its LED chips into the general illumination market, replacing standard light bulbs. 

Founded in 2004 by two Russian Physicists, OptoGaN is a Finnish and German company with GaN-based LED technology. The company operates a research lab at the Helsinki University of Technology and a pilot and production facilities in Dortmund.

Bernd Meyer, CEO of OptoGaN Oy says: "We are very glad that Via Venture Partners has joined the company. With a strong financial partner like VIA and the expertise it provides, we are convinced that we will meet our aggressive targets over the coming years and becoming the leading independent LED chip manufacture.”

"OptoGaN holds the key for LEDs to replace bulbs for illumination and with the global focus on energy saving we have high expectations to our investment in OptoGaN" added Via Venture Partners Principal Peter Thorlund Haahr, who will join the board of OptoGaN.

Antti Kummu, investment director at Finnish Industry Investment Ltd, said: “OptoGan is a good example of a truly global technology start-up company. It has been established trough intensive collaboration between Helsinki University of Technology and a Russian scientist team. The technology has been developed in Finland by two Russian scientists and the semiconductor production expertise originates from Germany.”

Contact OptoGaN: [email protected]