Linköping solar cell manufacturing spinout Epishine has received money from backers including LiU Holding arm after previously securing backing from Chalmers Ventures.
Epishine, a Sweden-based solar cell manufacturer spun out of Linköping University of Technology, has raised Skr11.3m ($1.3m) in a round that included the university’s tech transfer office LiU Holding, Di Digital has reported.
Almi Invest Greentech, a fund operated by VC firm Almi Invest, also participated in the round together with Potential Invest and angel investor Lars Björk.
Founded in 2016, Epishine has designed organic solar cell systems which can be used indoors to generate electricity in poor sunlight conditions. The cells could enable internet-of-things devices such as alarm sensors to run without a fixed electrical installation.
Epishine will use the funding to begin production of its technology, with proceeds also earmarked for product development, sales and marketing.
The company’s scientific research is led by Olle Inganäs, a professor in Linköping’s biomolecular and organic electronics unit. Jonas Bergqvist, chief technology officer of Linköping, is a principal research engineer at the university.
Epishine was previously backed by Chalmers Ventures, an incubator and VC firm linked to Chalmers University of Technology, though further details could not be ascertained.
– This article was amended on October 5 to correct the name of Almi Invest’s fund. We apologise for the confusion.