Tenant Simbeyond enters new phase of growth with investor and partner ECFG.
ECFG has acquired a minority share 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.This is the first financing round for Simbeyond. The financing will be used to accelerate company growth (R&D and sales organization).
Simbeyond offers a software tool, Bumblebee. The software tool is a computer simulation for the use of materials in the engineering process of OLED materials.The current process is often based on trial & error, which means that this is expensive and involves time-consuming and experimental efforts. The software is developed for companies that want to simulate the effects of organic light-emitting or light-emitting diodes at the device level. Customers include research & development (R&D) companies and departments of large tech companies and other relevant R&D institutes (such as universities). The unique approach allows customers to analyze, predict and improve device performance. This leads to a shorter time-to-market and to reduced R&D costs for the electronic devices of today and tomorrow.
Simbeyond is a technology-driven organization. The past few years have mainly been dominated by product development. The goal in this new growth phase for Simbeyond is to become the preferred supplier of organic materials simulation software for the high-tech industry. Additionally, two more application areas will be materialized into an expansion of the current product line: batteries and nanolithography.
“Simbeyond is entering a new growth phase with ambitious goals and a drive for new opportunities. This investment and collaboration mean not only securing the resources to become the number one simulation tool in the OLED market, but also taking a step forward into new products,” said Siebe van Mensfoort, CEO of Simbeyond.
Hans Bloemen of ECFG: “To measure is to know and Simbeyond does that in its purest form. Bumblebee is only just getting ready to really enter the market. It now needs the right commercial attention with the most suitable profession. The investment ensures that this step towards growth can be realized. In addition to further developing the current market, a step can also be taken in a new market, battery technology. Together we hope to bring this technical gem to fruition.”