Investment firm ECFG has taken a minority stake in Eindhoven University of Technology spinoff Simbeyond. The funding for the developer of OLED simulation software comes from the Eindhoven Venture Capital Fund II, an investment fund of ECFG. Having focused on product development since its foundation in 2015, Simbeyond will use the proceeds to boost R&D and sales.
Simbeyond’s Bumblebee software tool is used in the engineering process of OLED devices. It calculates the effects of combining different materials, which otherwise is largely a costly and time-consuming process of trial and error. Simbeyond is also looking at tapping into the battery and nanolithography market.
“Bumblebee is only just ready to enter the market. It now needs the right commercial attention to get a flying start. The investment ensures that this growth can be realized. In addition to further developing the OLED market, new markets can also be tapped into. Together we hope to give this technical scale-up a significant boost,” comments Hans Bloemen, managing director and partner of ECFG.