TerraLUX, Inc. said it raised Series B funding of $18.3 million in a round led by Generation Investment Management and joined by existing investors Emerald Technology Ventures and Access Venture Partners. Also participating were several private investors as well as founder Anthony Catalano and members of the management team.
TerraLUX Closes Series B Growth Capital Round
Longmont, Colorado – TerraLUX, Inc., a Colorado-based Solid State Lighting company specializing in integrated LED solutions for OEM and Retrofit applications today announced that it has closed a series B venture capital financing round of USD 18.3 million. The round was led by new investment partner Generation Investment Management based in London, with participation from existing investors Emerald Technology Ventures and Access Venture Partners. Also participating were undisclosed private investors as well as company founder Anthony Catalano and members of the TerraLUX Executive Management Team.
Founded in 2003 by Dr. Anthony Catalano, TerraLUX initially targeted the portable device market with considerable success and grew from that foundation into the general lighting market as the underlying technology matured. Since the initial venture capital investment in 2009, TerraLUX has grown significantly in both the illumination market as well as the portable device space, accumulated additional patents, introduced several new LED Engine products, and added strong lighting industry veterans to the management team.
The new capital will be used to accelerate the company’s growth in all segments of the business with a particular development focus on LED Engines and technologies for both OEM and Retrofit applications in general illumination.
“This investment represents a continued endorsement of the accumulated intellectual property, robust and diverse customer base and TerraLUX success in solid state lighting,” said Mark Verheyen, President and CEO of TerraLUX. Chairman Brian Dundon added “We are very pleased to have Generation Investment Management on board, given their global commitment to sustainability and long-term investing, understanding of the sector, and diverse partnerships. We are also pleased with the ongoing support of Emerald Technology Partners and Access Venture Partners, as well as our new private investors. Investment participation by the individuals of the executive management team further reinforces the excitement and level of commitment within our team.”
“We are proud to bring TerraLUX into our investment portfolio” stated Generation Partner Colin le Duc. “With advanced technology such as LEDSense® Thermal Management and Dynamic Transformer Recognition, TerraLUX is poised to accelerate the adoption of energy-efficient solid state lighting by reducing barriers of entry and backing up the promise of extended lifetime and durability.” Le Duc has assumed a new position on the TerraLUX Board of Directors.
About TerraLUX Inc.
TerraLUX Inc. is headquartered in Longmont, Colorado, and invents, designs, patents, manufactures and distributes innovative high power LED lighting solutions for general lighting as well as industrial, commercial, medical and retail markets. TerraLUX produces LED Light Engines and Modules for OEM and Retrofit applications to replace traditional light sources in commercial and residential lighting as well as many popular flashlights and lighting tools. LED lighting is robust and energy efficient and can provide significant relief from current energy consumption.
About Generation Investment Management
Generation Investment Management LLP is dedicated to long term investing, integrated sustainability research, and client alignment. It is an independent, private, owner managed partnership established in 2004 with offices in London and New York. Generation seeks superior performance by taking a long-term investment view and integrating sustainability research within a rigorous fundamental analysis framework. The sustainability research plays an important role in forming its views on the quality of the business, the quality of management and valuation. Its performance fees align its interests with that of its clients by being based on long term performance. Generation Investment Management LLP is authorized and regulated in the United Kingdom by the Financial Services Authority.
About Emerald Technology Ventures Emerald Technology Ventures is a globally recognized brand for venture investments in the areas of energy, water and materials. Founded in 2000, Emerald has been a venture capital pioneer in these industrial sectors. From offices in Zurich, Switzerland and Toronto, Canada, Emerald manages three venture capital funds and two venture capital portfolio mandates totaling over EUR 300 million (USD 400 million). www.emerald-ventures.com
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.