Blue Spark Technologies Announces Closing of $7.5 Million Series B Funding
Cleveland, Ohio, USA — Blue Spark Technologies, Inc., the leading producer of thin, flexible, printed power source solutions, has closed a $7.5 million Series B investment.
Existing institutional venture investors Early Stage Partners and SunBridge Partners were joined by several private investors.
Gary R. Johnson, Blue Spark President and Chief Executive, said, “The Blue Spark team is delighted to have the support of new investors and the continuing confidence of early backers, who have provided additional resources to enable Blue Spark to continue to prosper. I’m pleased to report that applications enabled by printed batteries are developing rapidly as the early adopters of our battery technology transition from development to successful product introductions.”
John Gannon, General Partner of SunBridge said, “Since leading the Series A round in 2007 we have seen the company achieve important milestones in organizational and market development, including generating initial revenue in huge opportunities. We are very pleased to support Blue Spark in this round, which provides resources for its transition into high volumes and profitability.”
“Early Stage Partners,” according to Managing Director Jim Petras, “has focused on funding young Northeast Ohio companies through development into commercialization. Blue Spark has identified and developed outstanding market opportunities that can be served with its world class printed battery technology. Early Stage has supported Blue Spark since its founding. We are pleased with Blue Spark’s progress and with the contribution that high growth companies we have supported are contributing to economic revitalization in Northeast Ohio.”
Blue Spark will focus its resources on ramping manufacturing to support market successes in multiple projects and to the acceleration of new applications that require thin, printed, disposable batteries.