Sweden nanowire semiconductor LED developer GLO AB has closed an SEK 170 million investment round (approximately USD 25 million), and set up a California-based engineering center to supplement its current efforts in Sweden and Denmark.

Current investors joining in the round in GLO include funds advised by venture capital firms Provider Venture Partners of Stockholm, Hafslund Venture, Agder Energi Venture, and Teknoinvest of Oslo, and VantagePoint Venture Partners of San Bruno, California, all joined by LU Innovation together with LUAB, the investment arm of Lund University (Sweden), as major owners, along with the founders and employees of GLO.

Besides, the Company appointed Fariba Danesh as its newly CEO (VD) of both GLO AB and its wholly-owned US subsidiary, GLO-USA, Inc..

About GLO
Founded in September 2005 , GLO is a technology spin-out from the Nanometer Structure Consortium ("nmC") at Lund University and is focused on commercialisation in the field of light-emitting diodes for general illumination of the heterostructured nanowire technology research of Dr. Lars Samuelson, Professor of Solid State Physics and Head of nmC, and the world-class team at Lund University.