A germ-fighting disinfection technology firm is going through a big growth spurt having just raised millions of dollars for more hiring and international expansion.
Germ-Fighting Tech Firm
The Southern-based Violet Defense Group Inc. has raised $6 million. This is according to an amended U.S. Securities and Exchange Commission document that was filing on September 14th.
Raising at least $20 million since founded in 2012, the maker of ultraviolet light systems for disinfection and agriculture. It also landed customers across the country. Plus grown its staff to 20 employees.
Moreover, the funds are going to help Violet Defense grow in many areas. Vice President of Marketing Jessica Jones said. That is going to include expanded research and development at Violet Defense. It is an agriculture lighting subsidiary Violet Gro. Also ecoSPEARS, water and soil decontamination startup Violet Defense is partnering with.
Expansion of Team
“In fact, this round will be used to support the expansion of the team. The international expansion of Violet Defense Group, as well as the increased research and development efforts across this portfolio,” Jones said. Though, she did not specify how much the company is planning to expand its staff.
Moreover, the company is raising the money as part of an ongoing Series B round. It is expecting to close by the end of September, Jones said. Kirenaga Partners LLC, an investment firm co-headquartered in Orlando and other cities, has led this portion of the round. Kirenaga is a longtime investor in Violet Defense. The Kirenaga Managing Partner Terry Berland is also Violet Defense’s CEO.
Investment capital often is very important for startups since it funds companies as they scale up. In addition, to also providing business expertise and industry connections.
In fact, this deal may mean more growth at Violet Defense. Between January 2020 and March 2021, the firm’s revenue increased 10-fold, Berland said.