Digital Lumens, a developer of LED-based intelligent lighting systems, announced that it has secured $10 million in Series B funding and a new working capital line of credit.
The round has full participation from the company’s current investors–Black Coral Capital, Flybridge Capital Partners, and Stata Venture Partners–bringing total funds raised to $25 million since the company’s inception. Silicon Valley Bank is providing the working capital line of credit.
Designed for large warehouses, manufacturing and other industrial facilities, the Digital Lumens Intelligent Lighting System integrates LEDs, controls, networking and reporting into a single solution that leverages system-wide intelligence to reduce customers’ energy costs. The Company says its systems can reduce industrial facilities’ lighting energy use up to 90% while improving light levels.
Customers to-date include Americold, United States Cold Storage, Maines Paper and Food Service.
Digital Lumens will use this latest round of capital to expand sales and distribution internationally, further product development, and strengthen its position in LED-based intelligent lighting for industrial customers.
Digital Lumens was named a 2011 World Economic Forum Technology Pioneer and a 2010 Global Cleantech 100 Company, and a 2011 CERAWeek Energy Innovation Pioneer. The company was also recognized with a Plant Services 2010 Best Practices Award and by Building Operating Management as one of the 2011 Top Products.
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