Tenant Simbeyond enters new growth phase with investor and partner ECFG.
ECFG has taken a minority stake in Simbeyond through Eindhoven Venture Capital Fund II (EVCF II). Simbeyond has developed simulation software (Bumblebee) that can very accurately measure the effects of OLED materials at the device level. It is the first round of financing for Simbeyond. The funding will be used for expansion (R&D and sales organization).
The software
Simbeyond offers a software tool, Bumblebee. The software tool is a computer simulation for materials deployment in the engineering process of OLED and soon for battery development. The current process is often still based on trial and error, meaning it is costly and time-consuming, and involves experimental efforts. The software was developed for companies that want to simulate the effects of organic light-emitting, or light-emitting diodes (OLED technology) at the device level. Think research and development (R&D) companies and departments of large tech companies, and other relevant R&D institutes (such as universities). It is a huge time saver to test at the R&D stage, to see how material improvement/renewal works in OLED lighting.
Investment Objectives
Simbeyond is a technology-driven organization. The past few years have been entirely dedicated to product development. The goal in this new growth phase for Simbeyond is, to become the preferred supplier of simulation software for organic materials for the high-tech industry. In addition, two more application areas will materialize in an expansion of the current product lines: batteries and nanolithography. In addition to the existing market, there are also opportunities in new markets: the battery and nanolithography markets.
Collaboration
"Simbeyond is entering a new growth phase with ambitious goals and drive towards new opportunities. This investment and cooperation means not only securing the resources to become the number one simulation tool in the OLED market, but also to take a step forward to new products," said Siebe van Mensfoort, CEO of Simbeyond.
Hans Bloemen of ECFG: "Measuring is knowing and Simbeyond does that in its purest form. Bumblebee is only just ready to actually enter the market with. It now needs the right commercial attention with the best suited profession. The investment ensures that that stepping stone to growth can be realized. Besides further developing the current market, we can also take a step into a new market, battery technology. Together we hope to bring this technical gem to maturity."
