Elfys completed a €700k seed round led by Voima Ventures.

Finland Investments 06 November 2019
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Elfys, an Espoo, Finland-based company manufacturing photodetector technology, announced that it completed a €700k ($775k) capital investment in a seed round.

The capital round was led by the Finnish investment company Voima Ventures, a first deal from its €38 million ($42M) fund announced earlier in 2019.

Elfys, led by CEO Mikko A. Juntunen, was founded in 2017 with the aim to commercialize the innovation of photodetector technologies invented by a group of university researchers at Aalto university. The company claims that it is the first in the world to combine the latest developments in solar cell technology with light detection, and thus, successfully apply black silicon to light sensing. The merger of these two research tracks has led Elfys to create a breakthrough technology that is able to capture virtually all of incoming light rays emitted.