LED lighting company Digital Lumens secures $23M in financing to speed deployment of IoT
Boston – Digital Lumens, the leader in intelligent LED lighting, announced $23 million in funding from new investors Nokia Growth Partners, Aster Capital, and Goldman Sachs, and current investors, Flybridge Capital Partners, Black Coral Capital, and Stata Ventures. Funds will be used to scale operations, expand product development, and increase sales and marketing as the company rapidly bolsters its global footprint.
“From consumer to industrial markets, the connected world presents new opportunities for efficiency, insight, comfort, safety, and operational intelligence – all delivered via next-generation lighting systems,” said Tom Pincince, President and CEO of Digital Lumens. “Our platform gives customers the most direct access to enterprise-scale building and energy intelligence – through the lens of their lighting network. With deep roots in traditional industrial infrastructure and strong commitments to the IoT [Internet of Things], our investors see Digital Lumens as the embodiment of the connected enterprise, and are excellent partners for our continued technology and market expansion.” Digital Lumens develops an enterprise-scale intelligent LED lighting solution that delivers operational visibility and dramatic energy efficiency to large commercial and industrial customers worldwide. With energy savings of up to 90%, customers deploy the system to meet efficiency objectives, and to gain new levels of building intelligence. Bringing the concrete value of the Internet of Things (IoT) to business operations, the Digital Lumens system is a wireless network of intelligent LED lights that gathers sensor and power meter data for ongoing operational insight, and a broad range of building intelligence. Covering more than 100 million square feet of space across 35 countries, Digital Lumens’ Intelligent LED Lighting System leverages the Internet of Things to bring building and energy intelligence to enterprises worldwide. This approach, based on a strong patent portfolio, is driving widespread adoption, with deployments doubling year over year. "Digital Lumens enables the connected enterprise by bringing physical objects to life through intelligence and connectivity," said Upal Basu, Partner at Nokia Growth Partners. "The company’s focus on sensor and wireless technology and NGP’s expertise across these sectors create strong synergies for both companies. We are delighted to support them as they bring intelligence and connectivity to the rapidly growing enterprise customer base." “With its innovative technology and strong team, Digital Lumens has created a market-leading position in the commercial and industrial sectors,” said Julien Creuzé, Principal of Aster Capital, a VC firm sponsored by Alstom, Solvay, Schneider Electric and the European Investment Fund. “Their Intelligent Lighting solution simultaneously saves customers significant amounts of energy and unlocks valuable operational data. It is transforming the lighting and building intelligence markets.” About Nokia Growth Partners NGP is an independent fund sponsored solely by Nokia investing in companies that are changing the face of mobility. NGP offers industry expertise, capital and an extensive network, enabling entrepreneurs to build disruptive, industry-changing companies and take them to the global market. With offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere. Visit www.nokiagrowthpartners.com for more information. About Aster Capital Aster Capital is a leading European venture capital firm focusing on Energy, Resources and Connectivity. Aster Capital is sponsored by Schneider Electric, Alstom, Solvay, and the European Investment Fund, global leaders in the energy and chemicals industries who jointly invested in its second $140m investment fund. With $250 million under management, Aster Capital proactively leverages the expertise and customer reach of these sponsors to support the profitable growth of its portfolio companies. www.aster.com About Goldman Sachs The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. About Digital Lumens Digital Lumens is a global supplier of enterprise-scale intelligent LED lighting to commercial and industrial customers, delivering 90% energy savings and granular building intelligence. Customers in 35 countries representing 100 million square feet of space have chosen the Digital Lumens solution. Digital Lumens intelligent fixtures and controls with embedded networking and sensors bring the Internet of Things to commercial and industrial lighting environment. LightRules facility- and cloud-based management solution is the foundation for ongoing energy and building management.
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