Greenteg accelerates global expansion with new investors

Existing and new investors have invested a total of CHF 10 million in greenteg. With the proceeds from this round the ETH Zurich spin-off focussing on thermal sensors will invest strongly into R&D for medical applications in the wearable market, and further scale its production capacity in Rümlang (Zurich) by a factor of 10 already in 2023.

Founded in 2009, greenteg develops, manufactures, and markets thermal sensors to brands, OEMs and research labs around the world. Applications fields of greenteg’s heatflux sensors include photonics, building insulation, and battery characterization as well as medical and sports applications. CORE, its Performance Sports Wearable brand launched in 2020 and having since received significant recognition, making the headlines being used by the 1st and 3rd ranked 2022 Ironman Hawaii winners and the Hour Record of cyclist Filippo Ganna.

The market for medical applications is particularly promising, as greenteg sensors can contribute to the continuous monitoring of important vital signs and thus create new possibilities in diagnostics and remote monitoring of patients.

The proceeds from the new round enable greenteg to invest strongly into R&D for medical applications and to scale its production capacity in Rümlang. In the coming years greenteg plans to ship tens of millions of its unique heatflux sensors to wearable customers around the globe.

New experienced board members

At this strategically important growth stage greenteg also gained three new Board Members with Gilbert Achermann (former CEO of Swiss medtech group Straumann), Peter Germann (co-founder of the electronics manufacturing services company Variosystems) and Felix Haldner (business angel and former partner at Partners Group). They bring decades of relevant entrepreneurial and industry experience to the team and have scaled companies to global leaders in the past.

Wulf Glatz, greenteg’s Co-founder and CEO, is enthusiastic about the quantum leap of the company: “Over the past year, we have seen a tremendous increase of interest in our caleragt solution for non-invasive and continuous monitoring of core body temperature. Solution providers for work safety as well as manufacturers of medical and consumer wearables have been desperately looking for a viable solution. We enable healthcare professionals, patients, and workers with an easy-to-use and safe experience in monitoring this important vital parameter. We are extremely happy to have attracted renowned experts in our target markets as new investors and Board Members.”

(Press release / SK)