SWITCH Materials Inc., a Burnaby B.C., Canada-based developer of energy saving window solutions, has raised C$7.5m in Series B financing.
The round was led by the Business Development Bank of Canada (BDC Venture Capital), with participation from existing investors GrowthWorks, Pangaea Ventures and Ventures West.
The funds will be used for continuing R&D and to complete product commercialization. Using its patented hybrid photo/electrochromic materials, SWITCH develops light-control films for architectural and automotive use.
In conjunction with the financing, Mr. Catherwood will join the company’s board of directors.