TerraLUX Inc., a Boulder, Colo.-based developer of LED solid-state lighting products, has raised $5.6 million in Series A funding. Emerald Technology Ventures led the round, and was joined by existing backer Access Venture Partners.
Boulder, Colorado-based LED solid-state lighting product company, TerraLUX Inc., announced today the closing of a USD 5.6 million Series A financing. The round was led by Emerald Technology Ventures with participation from existing investor Access Venture Partners. TerraLUX is a leading provider of high brightness, energy efficient LED modules for use in the general illumination and portable device markets. Founded in 2003 by Dr. Tony Catalano, TerraLUX initially targeted the portable device market with considerable success and grew from that foundation into the general lighting market. In 2009, TerraLUX added Jim Miller, formerly VP Sales, Global Geographic Regions from one of the largest LED lighting companies in the world to lead their team as President & CEO.
“We are pleased to have partnered with Emerald given their understanding of the sector, strong track record, international network and philosophy of working together as a team to achieve great success.” said Jim Miller, President and CEO of TerraLUX. “The Series A round recognizes the progress the company has made to date to develop the next generation of lighting products for general illumination and portable device markets.”
“TerraLUX has all the elements we look for in an excellent investment opportunity. It is a capital efficient business, has a superior product platform and demonstrated product performance. Alongside of an established and growing revenue base and a spectacular team capable of executing on high growth markets, TerraLUX uses the latest high-power LED components to produce exceptional products and distributes LED-based lighting solutions to a variety of markets.” said Whitney Rockley, Partner with Emerald Technology Ventures. “We are delighted to work alongside of Jim Miller, Tony Catalano and David Gold (Partner, Access Venture Partners) to grow TerraLUX into a worldclass LED module company.” As part of this financing, Whitney Rockley has joined the TerraLUX Board of Directors.
About TerraLux, Inc.
TerraLUX, Inc. designs, patents, manufactures, and distributes LED-based lighting solutions for a variety of markets. TerraLUX uses the latest high-power LED components from leading manufacturers to produce superior performing products. TerraLUX Light Engines provide significant advantages in energy efficiency, lifetime, and lumen maintenance over incumbent technology such as incandescent or halogen, while offering powerful, constant, quality light output during operation.
About Emerald Technology Ventures
Emerald Technology Ventures is a global leader in cleantech venture capital and operates from offices in Zurich, Switzerland and Toronto, Canada. Founded in 2000, Emerald is a pioneer in this rapidly emerging sector and is focused on innovative technologies in energy, advanced materials and water. Since inception Emerald has managed three venture capital funds and two venture capital portfolio mandates totalling over EUR 300 million (USD 440 million). Emerald is currently investing out of its latest fund and is looking for energetic and passionate entrepreneurs with the vision to build world-class clean technology companies.
About Access Venture Partners
Access Venture Partners is a seed and early stage venture capital fund with offices in Denver and Austin. The fund invests in businesses in the Clean Technology, SaaS, SaaS Infrastructure, Data Integrity, and New Media sectors that have exceptional management teams with the passion to build world class organizations that can redefine markets – and maybe even change the world.