Applied Ventures, the venture capital arm of Applied Materials and a leading corporate venture firm, announced today that it has participated in a Series B financing round for RayVio Corporation, an advanced UV LED solutions company developing proprietary semiconductor-based technology for manufacturing solid state ultraviolet (SSUV) LED products and applications. RayVio's patented technology is intended to enable large-scale adoption of UV LEDs for the industrial, digital health and consumer sectors, with a variety of applications to benefit society. The funds provided by Applied Ventures will be used to accelerate product development and to enable RayVio to provide next-generation UV LED light sources with improved efficiency, yield and cost. The investment also presents an opportunity for Applied Materials to apply its expertise in precision materials engineering to cutting-edge and potentially disruptive applications in existing and new markets.

"Applied Ventures' strategic investment in RayVio reflects our mission to identify and accelerate innovation around the globe, with an eye for emerging technologies where our leadership in precision materials engineering adds value to new growth markets," said Dr. Om Nalamasu, president of Applied Ventures and chief technology officer for Applied Materials. "We are pleased to expand our portfolio to further develop UV LEDs for promising new medical and industrial applications and beyond."

RayVio's unique, power-dense UV LED technology and materials are compact, instantly available, robust, mercury-free, energy-efficient and long-lasting. Potential applications include improving the effectiveness and accessibility of disinfection techniques for water, food, air and surfaces. This includes industrial and consumer applications to extend food shelf life via enhanced refrigerator systems, and printing and coating applications to conserve energy by avoiding the need for always-on mercury lamps or heat curing. The differentiated solution is of particular relevance to developing countries where access to clean drinking water is scarce, as well as for medical practitioners using UV devices to treat health ailments ranging from vitamin D deficiency to Multiple Sclerosis.

"We look forward to working with Applied Ventures in furthering the UV LED technology roadmap to enable cost-effective solutions to improve our world - from purifying drinking water, to treating major illnesses, to instantly disinfecting surfaces anytime, anywhere," said Dr. Robert Walker, CEO of RayVio. "Applied Ventures brings invaluable resources as a financial and strategic investment partner with critical precision materials engineering expertise that can help commercialize our first products for introduction later this year."

Since forming in 2005, Applied Ventures has invested over $190 million in more than 62 portfolio companies spanning equipment, materials, device and process providers in the clean energy, semiconductor, display, lighting and energy storage sectors. In 2014 alone, the group made four new investments in early stage technology companies.