# ElFys

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elfys

- Industry: Electronics
- Headquarters: Espoo, Finland
- Website: www.elfys.fi
- Total disclosed funding: $0.8M
- Latest round: Seed (Nov 6, 2019)
- Investors on record: 1

## About

ElFys, Inc., based in Finland, specializes in deep technology solutions focused on advanced photodetectors, utilizing proprietary Black Silicon technology to enhance photosensitivity across various spectral ranges for numerous applications.Founded in 2017, ElFys, Inc. is located in Espoo, Finland, and focuses on the design and manufacturing of photodetectors. The company has completed three deals, with its most recent funding round occurring on September 15, 2022, where it raised EUR 3 million led by Samsung Venture Investment and supported by Voima Ventures. The company's founders are Hele Savin and Mikko Juntunen, who also serves as the CEO. ElFys has not undergone any significant pivots or changes in business strategy since its inception.ElFys specializes in the design, development, and manufacturing of advanced photodetectors, providing both customized and standard products for various light detection applications. Their offerings leverage proprietary Black Silicon technology to enhance photosensitivity across a wide spectral range, including ultraviolet (UV) to near-infrared (NIR). The company's key products include the high-performance 4-quadrant detector and models such as QPD-385-Y, SM322, and the PD series, known for their superior sensitivity, low dark current, and rapid response times. ElFys serves a global client base across Europe, Asia, and North America, impacting sectors from consumer wearables to defense technologies.ElFys generated revenue of EUR 332,022.30 in 2022, with an EBITDA of EUR 1,412,262. Revenue is primarily derived from direct B2B transactions, supplying high-performance photodetectors to various industries focused on light sensing solutions. Their pricing is aligned with product specifications and performance capabilities, catering to industries such as health technology and defense, where clients typically place bulk orders or engage in long-term service agreements. The company's strategic focus on high-volume segments, particularly in consumer electronics and medical devices, positions it to meet the rising demand for advanced photodetector solutions.In September 2022, ElFys, Inc. raised EUR 3 million in venture funding, which will be utilized to scale up production in response to increasing industry demand. The funding round was part of a larger EUR 6 million funding initiative led by Samsung Venture Investment, with participation from Voima Ventures. Looking ahead, ElFys plans to expand its product lineup with new photodetector designs and aims to penetrate additional markets in Europe and North America by 2025.

## Funding rounds

- Seed, Nov 6, 2019, $0.8M — Voima Ventures

## Investors

- Voima Ventures (https://capitalatlas.ai/funds/voima-ventures) — Seed