Glo AB, a Lund, Sweden- and Sunnyvale, CA-based provider of light source solutions for displays, illumination, and automotive sectors, completed a $30m Series D financing.
The round was led by a new investor, with participation from existing shareholders Wellington Partners, Teknoinvest, Nano Future Invest, Energy Future Invest, Foundation Asset Management and others.
The company, which has raised approximately $115m to date, intends to use the funds to add to its product portfolio, team, and strategic partnerships.
A spin-off of the Lund University, Sweden and led by Fariba Danesh, CEO, Glo uses advanced gallium nitride materials to offer LED solutions using its proprietary nLEDTM technology.
The company has a 60-person R&D and operations facility in Sunnyvale, California.