New and existing investors have given a total of 10 million Swiss francs to GreenTEG. The spin-off from the Swiss Federal Institute of Technology Zurich was founded in 2009. It develops and produces heatflux sensors for applications in medicine, sports, occupational safety, building energy efficiency, photonics, and data-based research.
According to GreenTEG’s website, its latest development for precise body temperature measurement in the North American market, Feverflux, will soon be approved by the Food & Drug Administration and launched on the market. A press release states that GreenTEG’s CORE brand for performance sports wearables (small computers linked to the Internet of Things that can be worn on the body) has recently received significant recognition, having been used by first and third place in the Ironman Hawaii 2022 and by cyclist Filippo Ganna for the Hour Record.
GreenTEG plans to use the proceeds from this funding round not only to invest heavily in research and development in the wearables market but also to expand production capacity in Rümlang in the Greater Zurich Area tenfold in 2023. Over the next few years, the company plans to deliver tens of millions of heatflux sensors to wearables clients around the globe.
Gilbert Achermann, Peter Germann, and Felix Haldner will join the board of directors. Wulf Glatz, Co-Founder and CEO of GreenTEG, commented: “We are extremely happy to have attracted renowned experts in our target markets as new investors and board members.”
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