The Finnish venture capital firm, VNT Management Oy has invested €2 million in the light emitting diode (LED) start-up dilitronics GmbH, a Jena-based company that raised seed funding from the public High-Tech Gründerfonds in 2008.
The money from the VNT Power Fund II will enable dilitronics to expand its product range and support international marketing.
The company has developed technology for the energy efficient and intelligent control of LEDs, allowing a large number of high power LEDs to be operated in parallel.
LED illumination technology is a rapidly growing market in which a number of new applications are opening up. “The LED power electronic drive circuits developed by dilitronics enables customers to [access] the numerous advantages of LEDs [in] specific applications,” said Torsten Wipiejewski, partner at VNT Management.
VNT Management Oy is one of the first VC companies in Europe focusing on cleantech technologies, in particular renewable energies, decentralised power generation, and energy saving technologies. The firm has two funds with a total of €80 million under management.