Switch Materials Secures C$7.5 Million

By
Dave Forde
Published: January 18, 2010Posted in: Deal FlowTags: , , , ,
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Vancouver-based SWITCH Materials has raised $7.5 million in Series B round of financing. The Business Development Bank of Canada (BDC Venture Capital) led the investment, with participation from existing investors GrowthWorks, Pangaea Ventures and Ventures West. Proceeds will be used for continuing R&D and to complete product commercialization.

“I am excited that an up and coming Canadian clean tech company will be added to our portfolio,” said Geoff Catherwood, Director of Venture Capital at BDC. “The technology being developed at SWITCH carries tremendous potential to address the burgeoning demand for a new generation of window technology. Producing a SMART window solution that can meet the price point required for significant market penetration will enable SWITCH to gain a leadership position in a large untapped market.” In conjunction with the financing, Mr. Catherwood will join the companyís Board of Directors.

Switch develops a product offering dynamic light-control films for architectural and automotive use.



About the Author

Dave "The Connector" Forde has been involved in the technology industry across Canada for over 10 years in sales and marketing roles. Part of my passion is to connect people and help to grow businesses. Chair of Toronto Tech Week and an Advisory Member for ICT Toronto and Founder of Toronto Tech Week. Dave also ran the largest association for Internet Marketing & Advertising professionals with over 7,000 members in Canada, then launched Profectio. Shortly after that he launched PR In Canada as the voice of the public relations industry in Canada. Over the years he has also spoken at a number of industry events and been a judge for a number of competitions across Canada. He has also often been called upon to help assist and advising start ups and business with their go to market strategy strategy.