Finland’s Elfys raises €3 million energy efficient wearables

Photodetector company Elfys raises €3M  to ramp up the production for the growing  wearable market that are more energy efficient. The round is lead by deeptech investor Voima Ventures, whose portfolio includes the successful Oura Ring.

Photodetectors are sensors of light most commonly used in devices such as  smartwatches or any other worn devices. Now with an increasing number of people wanting  to track how their bodies are doing the demand for detectors is constantly growing.

ElFys provides light sensors with better sensitivity than anything seen before, literally catching  every ray of light. The technology greatly improves any light sensing application ranging from  health monitoring through security X-ray imaging to autonomous driving.

The performance of ElFys detectors is based on combination of modern  MEMS nanotechnology developments and atomic layer deposition.

Energy efficiency across monitoring solutions

With ElFys’ technology’s sensitivity and energy efficiency the performance of these health  monitoring devices can be remarkably improved universally across solutions. This is  groundbreaking as photodetectors are often the biggest limiting factor for making these  devices better and more accurate.  CEO Mikko Juntunen says in a press release:

“Our customers clearly see the value we offer but until now we have not been ready to scale  up the production. Now we can finally take that step and we are very excited to be able  to serve our customers and ultimately the end user community with ever better devices.”

The company founded in 2017 already has over 40 customers globally and that number is  steadily growing especially now with the investment round bringing bigger scale opportunities  to the table.