Bridgelux, a manufacturer of LED lighting technology, has raised almost $21 million in its latest round of funding, according to a filing with the Securities and Exchange Commission today.
The company specializes in making commercial lighting using light-emitting diodes (LEDs). That&'s the same technology that powers back-lighting for computer screens and televisions, but not traditional light sources like lamps and light fixtures. That&'s because the technology is pretty expensive, though much more energy-efficient than traditional bulbs.
Bridgelux earlier released a LED-powered light source that cost $20, down from the typical cost of around $50 for LED light sources. That&'s still quite a bit higher than traditional incandescent light bulbs, though, which cost anywhere from $2 to $10 per bulb.
To quell some concerns about how stable the technology is, Bridgelux decided to offer a five-year warranty on all of its light fixtures late last year, following a trend started by companies like SolarBridge and SolFocus to pick up some new customers that weren&'t quite convinced the technology was stable enough for every day consumers.
It looks like the most recent round was led by existing investors Vantage Point Venture Partners and venture capital firm DCM, according to the filing. Bridgelux has 138 employees and is based in Livermore, Calif. The company closed a funding round worth around $34 million around the same time last year. The company is also backed by Chrysalix Energy and El Dorado ventures.
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Companies: BridgeLux
Companies: BridgeLux
Matthew Lynley is VentureBeat's enterprise writer. He graduated from the University of North Carolina, where he studied math and physics, in May 2010. He has reported for Reuters. He currently lives in San Francisco, California. You can reach him at mattl@venturebeat.com (all story pitches should also be sent to tips@venturebeat.com), and on Twitter at @logicalmoron.
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