LedEngin Successfully Closes Series E Funding Round
GVT Fund leads Series E financing propelling LED Engin to expand its growth in the global LED market
San Jose, CA, USA: April 23, 2012: LED Engin, Inc., a California-based solid-state lighting company specializing in high lumen density LED lighting components and optics, today announced the successful completion of its Series E financing. GVT Fund, a leading technology fund led the round and was joined by co-investor MSIVC, existing investors WK Technology Fund, Partech International, NGP Energy Technology Partners, and independent investor and Chairman, Dr. Keh-Shew Lu. The Series E funding allows LED Engin to expand operations in response to increasing market demand for its products. The financing will be used to broaden the LED Engin product portfolio, increase manufacturing capacity and to expand its worldwide sales and marketing network. Leveraging its unique and innovative packaging and optical technology, LED Engin is poised to take advantage of robust growth in the LED market.
"The latest round of funding provides LED Engin with the financial resources it needs to accelerate growth" said David Tahmassebi, President and CEO of LED Engin. "The addition of GVT Fund to our existing funding partners brings increased and well- respected energy-focused funds with deep connections and experience in Asia markets. We are excited to have GVT Fund on board."
"We believe that the LED industry is set to grow and we see that LED Engin possesses pioneer technologies with potential to drive the industry," said Herb Lin, Managing Partner of GVT Fund. "We are excited to participate in the company's growth path."
"The cleantech area has been one of our main focuses," said Masayuki Saito, Director of MSIVC, "And we are excited about the opportunity to work and co-invest with GVT in LED Engin. We believe the company's products will serve the Japan market well."
About LED Engin
LED Engin, based in California's Silicon Valley, specializes in ultra-bright, ultra-compact solid state lighting solutions that allow designers and engineers the freedom to create uncompromised yet energy efficient lighting experiences. Their LuxiGen™ Platform - an emitter and lens combination or integration module solution, delivers superior flexibility in light output, ranging from 3W to 90W, a wide spectrum of available colors, including whites, multi-color and UV, and the ability to deliver upwards of 5,000 high quality lumens to a target. The small size combined with powerful output allows for a previously unobtainable freedom of design wherever high flux density, directional light is required.
About GVT Fund, L.P.
GVT Fund, L.P., sponsored by Industrial Technology Investment Company, was established in May 2011 by a group of senior executives, many of whom previously worked and invested together in the venture capital and private equity fields in the Greater China region. The fund is an all encompassing investment firm that provides a unique approach coupled with valuable perspectives to grow and sustain ventures. The fund is primarily dedicated to long-term investment opportunities in Greater China with a proprietary focus on companies developing innovative components, telecom infrastructure, systems, renewable energy, energy efficiency, and other high-growth industries.
About MITSUI SUMITOMO INSURANCE Venture Capital Co., Ltd.
MITSUI SUMITOMO INSURANCE Venture Capital is the venture capital arm of Mitsui Sumitomo Insurance in MS & AD Insurance Group, the largest insurance company in Japan which has a strong sales network comprising over 300 bases in more than 40 countries and regions. Based in Tokyo since 1990, the firm has invested into promising companies across a variety of industry sectors both in Japan and in North America, while helping build significant enterprises. MITSUI SUMITOMO INSURANCE Venture Capital currently has funds under management worth US$ 300million.
Light+Building 2012 SHOW PREVIEW: Booth J20, Hall 4.2
LED Engin to demonstrate leadership in white LED light uniformity, control and Lux-on-Target at Light+Building 2012
San Jose, CA, USA: April 11, 2012: On Booth J20 in Hall 4.2 at Light+Building 2012 to be held between 15 - 20 April in Frankfurt, LED Engin, Inc., a leader in high lumen density LED products, will demonstrate white LED products with high efficiency, intensity, color control and tunability for LED lighting applications. The advantages are derived from a combination of a single, yet powerful, compact LED package with a complementary TIR secondary optic that results in high quality, highly uniform natural illumination. LED Engin is showcasing its latest LED Engin product innovations - ViviLux™, a highly efficient / high color quality LED solution that maximizes targeted intensity (Lux-on-Target performance), and LuxiTune™, an intelligent, single LED that emits a warmer white as it dims like a true halogen source. Both new product families offer the punch of the LuxiGen technology platform and the almost indistinguishable color variation gives customers the freedom to design for a range of lighting experiences while doing so with homogeneous color uniformity.
ViviLux products, which consist of an emitter and complementary TIR Secondary Optic, are based on the LuxiGen multi-die platform. ViviLux provides superior Lux-on-Target performance, CRI (color rendering index) of 90, and a chromaticity variation of two MacAdam Ellipses from emitter-to-emitter, and over time. With efficiencies at 85 lm/W and Center Beam Lux almost double that of other LED solutions of comparable power consumption, LED Engin maximizes lux/Watt efficiency and offers lighting designers flexible, creative solutions for retail, commercial and architectural lighting where consistent white light for directional and accent lighting applications is demanded.
LED Engin will also showcase the world's first single LED emitter capable of halogen-like dimming, LuxiTune, at Light+Building. The new LuxiTune white emitter again takes advantage of the individually addressable die and in-source mixing to produce white light from 3200K to 2400K. Coupling the tunable white emitter with additional control electronics, either separately or in an integrated module, the LuxiTune emits a warm white from 3200K to 2400K smoothly as it dims using standard 0-10V dimmers. The light -is confined within 2 MacAdam Ellipses along the black body while dimming. Like a halogen bulb, LuxiTune dimming offers the appropriate ambience at all illumination levels. This is particularly desirable in hotels, restaurants and bars, where maintaining the right ambience is key.
The light from LED Engin's LuxiGen platform of compact, multi-die emitters and family of Total Internal Reflection (TIR) lenses has a uniform distribution and a smooth profile across the beam. It is produced without hot spots, multiple shadows or uncomfortable glare. The TIR optic contains maximum light within the main beam to minimize glare and Lux-on-Target is typically double that of LED fixtures that use array LEDs with reflectors, rather than lenses, to focus the beam. LED Engin offers products with beams from 8 degrees up to 45 degrees wide which excel at narrow angles that are difficult for other larger LED sources to achieve. These benefits have already been demonstrated in demanding stage and studio lighting applications, where many leading manufacturers of high power lighting fixtures specify LED Engin emitters. In retail applications, these emitters enable fixtures to be made up to four times smaller than those based on metal halide light sources of comparable power, allowing lighting designer's greater creative freedom.
More information on LuxiGen technology and products can be found at: http://www.ledengin.com.
Key points summary: LED Engin at Light+Building