SWITCH Materials closes $7.5M in Series B

Posted by Rob Lewis

Almost missed this financing announcement last week.

Burnaby's SWITCH Materials Inc., an advanced materials company developing energy saving SMART window solutions, raised $7.5 Million in Series B financing. The Business Development Bank of Canada (BDC Venture Capital) led the investment, with participation from existing investors GrowthWorks, Pangaea Ventures and Ventures West.

Proceeds will be used for continuing R&D and to complete product commercialization.

A timely raise as SWITCH was the recipient of the Best Early Stage Company award in the Cleantech & Advanced Technology category at the 2009 Canadian Financing Forum.

The 2010 Canadian Financing Forum is next week in Vancouver.

Company:
GrowthWorks Capital
Website:
http://www.growthworks.ca/vc/
Location:
Vancouver, British Columbia, Canada

GrowthWorks is a recognized leader in the Canadian venture capital industry, specializing in the management and growth of regionally based venture capital funds. GrowthWorks has combined assets under management of more than $800 million. Rolf Dekleer joined GrowthWorks in 2000, bringing eighteen years of operating experience in the technology sector with Cymbolic Sciences, MacDonald Dettwiler, Agilent... more

Company:
Ventures West
Website:
http://www.ventureswest.com
Location:
Vancouver, British Columbia, Canada

Ventures West is one of Canada's largest privately owned venture capital companies. In addition to providing capital, we contribute a wealth of resources to each investment. With 13 professional technology investment managers, and one of the largest Entrepreneur-In-Residence programs in Canada, the Ventures West team has over 140 years of technology venture investing and hands-on operating experience. Ventures... more

Company:
BDC Venture Capital
Website:
http://www.bdc.ca
Location:
Montréal, Québec, Canada

With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on IT, health and energy/cleantech companies, as well as venture funds, with high growth potential. From seed through expansion to exit, their mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian... more

Company:
SWITCH Materials Inc.
Website:
http://www.switchmaterials.com
Location:
Burnaby, British Columbia, Canada

SWITCH Materials develops revolutionary new materials based on proprietary organic molecules that "switch" optical properties on command. SWITCH’s molecular switches can be developed for a number of applications, especially in the areas of molecular electronics and health sciences, including optical filters, photochromic inks, paints and fibers, high-density optical information storage systems, molecular sensors... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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